Business

Coming into the week, Tesla was a junk-rated credit at Moody’s, even though Tesla’s financial performance justified much better by Moody’s own calculations. That changed Monday evening after Moody’s upgraded its rating on the electric-vehicle maker. Still, investors might wonder why the rating isn’t even higher. Elon Musk seems to be the reason.

Calling all busboys, dishwashers, line cooks and more, here’s your chance to dine at a Michelin-starred chef’s restaurants with VIP treatment — “at cost.” Chef John Fraser, who has won critical raves for past efforts at Dovetail and Nix, is offering restaurant workers a 70% discount on menu prices at his Big Apple restaurants as … Read more

(Bloomberg) — For all the focus on whether the Federal Reserve is about to pause its interest-rate hikes, there’s another critical policy decision sure to draw plenty of attention come Wednesday: What the central bank does with its massive pile of bond holdings. Most Read from Bloomberg The banking-sector turmoil, combined with a previous increase … Read more

In the wake of unprecedented short squeezes involving stocks like GameStop and AMC in early 2021, a group of retail investors from the Reddit forum r/WallStreetBets (and the spinoff called r/WallStreetSilver) set their sights on the silver market, attempting to challenge Wall Street giants with a so-called “silver short squeeze.” The silver short squeeze movement … Read more

Reuters Credit Suisse Bondholders Enraged As $17B Of AT1 Debt To Be Written Down To Zero: What It Means Credit Suisse Group AG (NYSE: CS) said 16 billion Swiss francs ($17.24 billion) of its additional tier 1 (AT1) debt, a type of bond, will be written down to zero on the orders of the Swiss regulator FINMA as … Read more

A handful of YouTubers famed for their personal finance expertise are being chased hard for more than $1 billion by victims who lost their fortunes in Sam Bankman-Fried’s FTX. The finance influencers are facing a class action lawsuit claiming they were paid “handsomely” to push the FTX brand prior to its collapse, following similar cases … Read more

Mini Nukes – Last Energy A US-based developer of small nuclear reactors has signed a deal to sell 24 of its power plants to UK customers, putting pressure on rival makers including Rolls-Royce. Last Energy said the £100m modular units, which are two-thirds the size of a football pitch, can output 20MW of electricity, enough … Read more

Within hours of its state-backed takeover by UBS Group being announced, memorabilia bearing lender Credit Suisse’s name and logo was being put up for sale in Switzerland, marking the end of an era. Dozens of bars of gold, stamped with the name of the issuer — the 167-year-old Credit Suisse — were uploaded to the country’s most popular online marketplaces, Ricardo.ch … Read more

First Republic Bank remains in crisis mode this week, despite coordinated efforts by large banks to stabilize its finances and the federal government’s guarantee of deposits in two failed banks earlier this month. San Francisco-based First Republic continued to teeter on the edge Monday, with its shares falling more than 47%, briefly hitting an all-time … Read more