CNN — When customers at Silicon Valley Bank rushed to withdraw billions of dollars last month, venture capitalist Arlan Hamilton stepped in to help some of the founders of color who panicked about losing access to payroll funds. As a Black woman with nearly 10 years of business experience, Hamilton knew the options for those […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — Americans have grown used to corporate executives treading the well-worn paths of the Northeast […]
New York CNN — Three stocks with ties to former President Donald Trump surged Friday after two sources familiar with the case told CNN that Trump faces 30 counts related to business fraud in an indictment from a Manhattan grand jury. It’s not clear why investors sent shares of those companies soaring Friday, although the […]
Hong Kong/London CNN — UBS is bringing back its former chief executive, Sergio Ermotti, to manage the hugely complex and risky task of completing the bank’s emergency takeover of rival Credit Suisse (CS). The surprise appointment, announced Wednesday, highlights the scale of the challenge facing the Swiss lender as it executes a first-of-its-kind merger of […]
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. New York CNN — It’s difficult to overstate the influence that Silicon Valley Bank had over the startup […]
Hong Kong/Seoul CNN — BTS agency HYBE says it has called off a takeover bid for SM Entertainment, ending weeks of corporate mudslinging that has dominated headlines in South Korea. HYBE said Sunday it made its decision “after observing that the market has been showing signs of overheating due to competition with both Kakao and […]
New York CNN — Silicon Valley Bank collapsed Friday morning after a stunning 48 hours in which a bank run and a capital crisis led to the second-largest failure of a financial institution in US history. California regulators closed down the tech lender and put it under the control of the US Federal Deposit Insurance […]
Hong Kong/Seoul CNN — Kakao, one of South Korea’s top internet giants, has doubled down on its quest to take control of SM Entertainment, the iconic K-pop music agency. The tech firm announced Tuesday that it would seek to buy up to 35% of the music label, just days after a previous share sale between […]
Seoul/Hong Kong CNN — HYBE, the management agency behind superstar boy band BTS, will become the biggest shareholder of its K-pop rival, SM Entertainment. The move strengthens HYBE’s dominance in South Korea’s music industry, where it is already the biggest player, even as it seeks to expand abroad. The South Korean entertainment giants announced the […]
Davos, Switzerland CNN — Jeff Maggioncalda, the CEO of online learning provider Coursera, said that when he first tried ChatGPT, he was “dumbstruck.” Now, it’s part of his daily routine. He uses the powerful new AI chatbot tool to bang out emails. He uses it to craft speeches “in a friendly, upbeat, authoritative tone with […]
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