Wall Street has an unfortunate habit of pushing financial innovations to such extremes that they break. This is essentially the problem facing special purpose acquisition companies: They’ve oversaturated the market and are now dysfunctional.
The Russian currency and bonds retreated, trimming a rebound earlier in the week after U.S. President Joe Biden said he thinks Moscow will “move in” on Ukraine, fueling concern tougher sanctions could be on the way.
Eleusis, a health-care company focused on using psychedelic drugs as medicines, is going public through a merger with a blank-check firm, according to people with knowledge of the matter.
A sharp increase in worker compensation will help the European Central Bank justify raising interest rates in early 2023, according to economists at ING Group.
Bets on luxury carmaker Aston Martin Lagonda and Swiss bakery firm Aryzta AG helped Ironshield Capital Management reach a 30% return on its opportunistic credit strategy in 2021, according to a person familiar with the matter.
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