SVB Meltdown Brings Another Blow to Cash-Starved Biotech Industry

(Bloomberg) — Biotech companies are racing to assess the damage from the failure at SVB Financial Group, the latest issue facing many of the startups in search of cash.  SVB, which collapsed Friday after a run on assets, plays a large role in financing early-stage life sciences and health-care companies. Venture-backed health companies account for … Read more

Traders Burned by Stock Losses Are Pouring Billions Into Credit

(Bloomberg) — As stock markets take another pummeling, more traders are hiding out in credit markets. They’re finding refuge in top-quality bonds, especially short-term securities. So far this year, global investment-grade credit funds have absorbed almost $70 billion, making it the biggest inflow for this part of the year since EPFR Global started tracking the … Read more

Tesla Offers an Unprecedented Look at the Bench Behind Elon Musk

(Bloomberg) — What they see was an unprecedented number of executives share the stage with Elon Musk, who irked some shareholders by acquiring Twitter for $44 billion last year and funding the deal at least in part by selling billions of dollars worth of Tesla stock. Twitter didn’t come up at all during the roughly … Read more

Reliance, Tata Bid for India’s $2.4 Billion Solar Incentives

Others showing interest include U.S. firm First Solar Inc. and Indian companies JSW Energy Ltd., Avaada Group and ReNew Energy Global Plc, according to the renewable energy ministry. It said a total of 11 companies entered the bidding, though the embattled Adani Group, one of the country’s largest solar panel makers, did not join in.

Fed Inclined Toward More Hikes to Curb Inflation, Minutes Show

“Participants observed that a restrictive policy stance would need to be maintained until the incoming data provided confidence that inflation was on a sustained downward path to 2%, which was likely to take some time,” according to the minutes of the Jan. 31-Feb. 1 gathering released in Washington on Wednesday.

Adani Group Hires Banks to Hold Fixed-Income Investor Calls

(Bloomberg) — Banks are setting up meetings with fixed-income investors over the next week on behalf of Adani Group, Adani Green Energy Ltd and Adani Transmission. The calls are scheduled for Feb. 16 and Feb. 21, according to a person familiar with the matter. Barclays Plc, BNP Paribas SA, DBS Bank Ltd, Deutsche Bank AG, … Read more

HSBC Sees Loan Availability to Drive Growth for India M&A Deals

A logo at a HSBC Holdings Plc bank branch on King Street that is set for closure in the near future on Thursday, in Hammersmith district of London, UK, on Tuesday, July 26, 2022. HSBC are due to report second-quarter earnings on Aug. 1. Photographer: Hollie Adams/Bloomberg

Porsche Rises in Landmark IPO Weathering Tough Markets

Porsche’s listing is a bold move into public markets, which have been largely shut to IPOs for most of the year, with companies shying away from seeking new listings because of the European energy crisis, rising interest rates and record inflation. The sale will help Volkswagen raise funds to plow into its electrification push, while … Read more

This Is What Life’s Like in the World’s Strictest Covid Zero City

Seven times since last March, Ruili—on China’s Myanmar border—has felt the full force of Xi Jinping’s Covid Zero policy.