Business

BlackRock Inc. is resisting the Federal Deposit Insurance Corp.’s demands that the world’s largest asset manager submit to new oversight of its stakes in US banks, seeking to delay negotiations into the Trump administration.

Sub-Saharan Africa’s economic growth is expected to improve to an average 4.2% this year from an estimated 3.8% in 2024, boosted by investments in energy and infrastructure and an expanded services sector, according to Moody’s Ratings.

Britain’s power market is set to remain tight on Friday, capping a week that’s seen prices soar as temperatures plummet.

The potential cost for insurers of the devastation caused by the Los Angeles wildfires is now expected to surpass $20 billion, according to analysts at JPMorgan Chase & Co., doubling their estimate from just a day before.

The company, Epirus, faces a valuation cut in the deal.

Atop Wall Street’s largest investment banks, executives are locking in plans to award traders and dealmakers their biggest bonus increases since the pandemic, with 10% hikes — or more — coming for many desks, according to people briefed on the plans.

Several Federal Reserve officials confirmed Thursday the US central bank will likely hold interest rates at current levels for an extended period, only cutting again when inflation meaningfully cools.

President-elect Donald Trump is planning a flurry of executive orders around immigration, energy, federal workers and regulatory reform in the early hours after his Jan. 20 inauguration, part of a sweeping effort to quickly implement his policy agenda upon taking office.

Direct lenders including Antares Capital, Blue Owl Capital Inc and KKR & Co are preparing to take over insurance claims manager Alacrity Solutions, the latest restructuring in the private credit market, according to people with knowledge of the matter.

American Electric Power Co. has agreed to sell a stake in its transmission business to a strategic partnership between KKR and PSP Investments, the energy company reported.

Two Sigma Investments’ billionaire founders, John Overdeck and David Siegel, are heading to arbitration after a longstanding feud over the direction of the quant hedge fund.

Average asking rents fell nationally to $2,109 in December on a year-over-year basis, marking a 17-month low, according to a new report.

BlackRock Inc. is exiting one of the world’s biggest climate finance groups for investors after being targeted by Republican politicians for its efforts on global warming.

The wildfires sweeping through Los Angeles are unlikely to trigger significant losses in catastrophe bonds designed to capture such risks.

President Joe Biden has spent his final weeks in office looking to Trump-proof some of his biggest policy priorities, from environmental protections to Ukraine support and manufacturing subsidies. The incoming president isn’t amused.