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B. Riley shares plummet after taking losses on Franchise Group deal

NEW YORK (Reuters) -Shares of financial services firm B. Riley plummeted nearly 35% on Monday, extending losses for the fourth consecutive session, after it disclosed unrealized investment losses and S&P Global Ratings downgraded a key asset. The boutique Los Angeles-based investment bank said last week that it was forced to mark down the value of its investment in the $2.6 billion take-private deal involving Vitamin Shoppe owner Franchise Group Inc after the company reported a decline in ...
New York United States John Hughes Chibuike Oguh Medha Singh Rick Meckler
Source: yahoo.com

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Eurozone business activity going from 'bad to worse'

Eurozone business activity slumped at a faster pace in October, resulting in job losses, a closely watched Purchasing Managers' Index (PMI) survey put out by S&P Global showed Tuesday."Companies cut employment as a result, representing the first drop in headcounts since the lockdowns of early 2021," S&P Global said in a statement giving the PMI survey result.
Christine Lagarde Hamburg Commercial Bank International Monetary Fund European Central Bank Purchasing Manager Index Cyrus De La Rubia
Source: yahoo.com

US business activity ticks up while euro zone gauge fans recession fears

U.S. business activity ticked higher in October while output in the euro zone took a surprise turn for the worse, surveys showed on Tuesday, underscoring the diverging path for central bankers in the two regions and fanning fears the bloc may slip into recession. In the United States, the manufacturing sector pulled out of a five-month contraction on a pickup in new orders, and services activity accelerated modestly amid signs of easing inflationary pressures. S&P Global said its flash U....
World Bank District Of Columbia United States Israel General United Kingdom Andrea Ricci
Source: yahoo.com

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