Funding & Business
HSBC’s Swiss Bank Said to Exit 1,000 Mideast Clients Amid Revamp
HSBC Holdings Plc’s Swiss private bank is ending relationships with wealthy Middle Eastern clients, including many with assets exceeding $100 million, as the bank seeks to lower its exposure to individuals it deems high-risk, according to people familiar with the matter.
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Black Rock Coffee Bar Inc., an operator of a drive-through-focused coffee chain, raised $294.1 million in a US initial public offering that priced above its marketed range.
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Global investors are once again warming up to Chinese government bonds, after a selloff driven by a rotation into stocks sent yields to multi-month highs.
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Former Virgin Australia Holdings Ltd. Chief Executive Officer Jayne Hrdlicka left the airline with a final package of A$50 million ($33 million), a windfall that makes her one of the country’s best-paid leaders.
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