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NEW YORK (AP) — Wall Street swung back down on Tuesday, and its former superstars once again led the way. The S&P 500 dropped 1.1% for its latest swerve in a scary ride, where it tumbled by 10% from its record and then rallied for two straight days. The Dow Jones Industrial Average fell 260 points, or 0.6%, and the Nasdaq composite sank 1.7%. Tesla was one of the heaviest weights on the market after falling 5.3%. The electric-vehicle maker’s stock has been struggling on worries that it will lose sales because of anger at its CEO, Elon Musk, who…

(Bloomberg) — Saudi Arabia’s wealth fund is set to tap a broader array of investors and pursue debt sales through its subsidiaries, as it grapples with the scale of the kingdom’s spending ambitions. Most Read from Bloomberg The Public Investment Fund is weighing a debut euro-denominated bond this year and plans to tap onshore US investors for the first time, according to people familiar with the matter. It’s also encouraging subsidiaries to borrow independently, with Neom Co. and AviLease among firms potentially issuing debt, some of the people said, declining to be identified discussing confidential information. These plans represent a…

Jim Mullen took home £1.25m last year – Eddie Mulholland The boss of the publisher behind the Daily Mirror has seen his pay more than double despite anger among staff over recent job cuts. Jim Mullen, the chief executive of Reach, which also owns the Express and regional titles such as the Manchester Evening News, took home £1.25m last year after he was awarded the maximum possible bonus of £662,000. That was up from £564,000 in 2023, when the newspaper boss agreed to forgo a bonus and increase to his base salary. Mr Mullen’s bonus is more than a thousand…

Hanyu Liu; Director, Investor Relations; HUYA Inc Junhong Huang; Acting Co-Chief Executive Officer, Senior Vice President, Director; HUYA Inc Raymond Peng Lei; Acting Co-Chief Executive Officer and Chief Financial Officer; HUYA Inc Thomas Chong; Analyst; Jefferies Nelson Cheung; Analyst; Citi Ritchie Sun; Analyst; HSBC Yiwen Zhang; Analyst; China Renaissance Hanyu Liu (audio in progress) ’24 earnings webinar. I’m Hanyu Liu from the HUYA Investor Relations. (Operator Instructions) Please be advised that today’s webinar is being recorded.The company’s financial and operational results were issued earlier today and are posted online. You can also view the earnings press release by visiting the…

(Bloomberg) — Universities in the US are facing higher risk “across the sector” because of moves by the Trump administration, according to Moody’s Ratings, which lowered its outlook for the US higher education sector to negative from stable. Most Read from Bloomberg Moody’s analysts said in a report on Tuesday that recent and potential federal policy changes “create a more difficult operating environment for colleges and universities.” The outlook reflects the ratings company’s view of credit fundamentals in the US higher education sector over the next 12 months and is separate from the outlook for individual schools. The Trump administration…

The Bank of Japan kept interest rates unchanged, warning about the economic outlook (Richard A. Brooks) The Bank of Japan left its key interest rate unchanged Wednesday in a widely expected move given the global economic uncertainty fuelled by US trade tariffs. Following a two-day policy meeting, the central bank said it was keeping its key interest rate at around 0.5 percent. “There remain high uncertainties surrounding Japan’s economic activity and prices, including the evolving situation regarding trade,” a BoJ statement said. The bank hiked rates in January to their highest level in 17 years on the back of bumper…

(Bloomberg) — European stocks and US equity futures posted small moves in cautious trade before the Federal Reserve’s policy decision later Wednesday. Turkey’s lira plunged more than 10% after authorities detained President Recep Tayyip Erdogan’s most prominent rival. Most Read from Bloomberg The Stoxx 600 edged lower in Europe, with most sectors in the red, while contracts for the S&P 500 and the Nasdaq 100 kept to narrow ranges. A regional Asian share gauge erased an earlier advance. The dollar strengthened and gold rose to a new record. Turkey’s lira weakened to a record low past 40 per dollar, a…

(Bloomberg) — The Bank of Japan kept its benchmark rate unchanged and cited worries over the potential impact from US tariff policies, suggesting that it’s not in a rush to hike for now. Most Read from Bloomberg The central bank added a reference to trade policies to its list of risks to the outlook, its statement showed Wednesday. With around two weeks to go before details of President Donald Trump’s additional reciprocal tariffs come out, Governor Kazuo Ueda’s board voted to keep the policy rate steady at 0.5% at the end of a two-day gathering, a result that was in…

Accounting and business advisory firm Bober Markey Fedorovich (BMF) has elevated Kristian Barr and Michael Bigler from senior managers to directors in the Assurance and Advisory Department of its Northeast Ohio team. Barr, who has been with BMF for several years, specialises in the nonprofit industry as well as client accounting and advisory services (CAAS). Barr is known for his deep knowledge of nonprofit financial reporting, grant compliance, and audit processes. His expertise also extends to the for-profit sector, where he offers financial forecasting, internal control assessments, and acquisition due diligence. In his role within the CAAS group, Barr will…

(Bloomberg) — Oil fell for a second day after an industry report showed US crude stockpiles increased against a backdrop of concerns about global economic growth. Most Read from Bloomberg West Texas Intermediate crude slid toward $66 a barrel. The American Petroleum Institute said nationwide inventories rose by 4.6 million barrels last week, although a draw was seen at the key hub in Cushing, Oklahoma. Official data are due later on Wednesday. Investors will also watch for a Federal Reserve interest-rate decision, plus commentary from Chair Jerome Powell on the economy as President Donald Trump amps up his trade war.…