Credit Suisse’s investment bank is the Swiss lender’s profit engine. But after the Archegos and Greensill meltdowns, it is expected to be scaled back for safety.
The antibody drug reduced the risk of developing symptomatic Covid-19 infection by 81% compared with a placebo in people living with someone infected by the new coronavirus, a study found.
Stock futures ticked down ahead of a busy week of earnings and economic data. Shares of technology giants have taken back control of the rally in U.S. stocks over the past month.
Ant Group, the financial-technology giant controlled by billionaire Jack Ma, will apply to become a financial holding company overseen by China’s central bank.
Prices are surging for raw materials, leading to higher costs for companies from home builders to clothing makers. Higher input costs generally accompany broad economic growth, allowing companies to pass along added expenses and fatten margins.4
Median pay for the chief executives of more than 300 of the biggest U.S. public companies reached $13.7 million last year, according to a Wall Street Journal analysis.235
Iran said saboteurs caused a blackout at the country’s main nuclear-enrichment plant, accusing the alleged culprits of attempting to derail informal talks with the U.S. on reviving a 2015 nuclear accord.
Business & Finance
An average of 30 container ships a day have been stuck outside the Ports of Los Angeles and Long Beach waiting to deliver their goods. The backlog is part of a global supply-chain mess spurred by the pandemic that means consumers could see delivery delays for weeks.
WSJ News Exclusive
Vox Media is acquiring Cafe Studios, publisher of a podcast hosted by the former Manhattan U.S. attorney, part of a bid to expand its growing audio business.
The company is the latest technology provider to look at a public stock offering as pandemic-driven upheaval in supply chains draws more interest to tools that help companies manage the flow of goods.
Heard on the Street
Domestically oriented companies might fare best as the U.S. economy powers ahead and foreign earnings face a tax hike.
U.S.
The president is expected to nominate NSA veterans to key positions, as the White House looks to round out its personnel in the wake of two recent hacks linked to foreign governments.
The remarks indicate the former president’s anger toward Mitch McConnell hasn’t abated since losing the election and highlight the challenges the Republican Party faces in trying to move on.223
State Street
U.S. Rep. Tom Suozzi has taken a leading role in fighting to restore a tax deduction that is important to people who live in and around New York City, and might be laying the groundwork for another gubernatorial run.21
World
Ecuador elected a conservative former banker and supporter of free-market policies as president over his populist opponent, setting the country on a pro-business path.
Retirement
It doesn’t have to be rigid. But knowing roughly what you’ll do and when can keep you both active and grounded.8
It used to be a hobby. Now it’s his passion.
Life & Arts
After a long wait for this summer’s Games, some old hands who had planned to retire are figuring they can also hang on another three years.
The shop at Augusta rapidly sold out of shirts featuring pictures of pimento cheese and egg salad sandwiches. They’re going for way more online.9
With offices opening more, these workers are beyond ready to ditch their sweatpants and leggings.43
Americans who went into the pandemic aren’t the same people coming out, instead emerging with new goals, priorities and concerns.165
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