The national oil company of Venezuela has sold a stake in an oil refinery to a US chemical firm for $2.1bn (€1.6bn). It is the second-largest M&A deal to come from the Latin American country.

Lyondell Chemical, a Texas-based chemical manufacturer, has bought a 41% stake in Lyondell-Citgo Refining, including Citgo Petroleum's portion of the refinery's debt. Citgo is a Houston-based refiner and marketer of oil products and a wholly owned subsidiary of Petróleos de Venezuela, the national oil company of Venezuela.

Shanny Basar in New York

Lyondell Chemical

Morgan Stanley

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Milbank hires private equity M&A rising star in Germany

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

Senior GIC private equity lawyer joins Dechert in London

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US law firm hires private equity specialist from key client

Sales of $10 million-plus paintings have collapsed as high interest rates have flushed speculators out of the market.

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Chinese authorities have placed an exit ban on a China-born executive after she entered the country recently. The bank has suspended travel to China.

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Erica Williams to depart auditing watchdog July 22 at request of SEC chairman.

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The bond manager hasn’t adjusted its portfolio saying it seems unlikely the president will get his way.

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ChatGPT tells me I’m thoughtful and wise, and write as well as a Nobel Prize winner. An ego-boost like that is worth $20 a month.

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Jittery markets are swelling trading revenue and profit, prompting banks to put more money to work on Wall Street.

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Politicians often want lower rates. Central banks seek stable prices.

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Now that AI is screening résumés, it’s time to rethink that commandment about fitting all your work experience onto a single page.

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Many on Wall Street have privately worried that political pressure will undermine the Federal Reserve’s credibility.

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Temperatures have been rising since the world’s oldest underground transportation system opened in 1863, presenting challenges that air conditioning can’t easily fix.

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Aircraft and booze are among imports that would be targeted as EU debates how to respond to President Trump’s latest trade threats.

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The four-day minimum requirement will begin in the new fiscal year, and some leaders will have to relocate to Seattle or Toronto within 12 months.

Starbucks Tells White-Collar Workers to Come to the Office More—Or Take a Buyout

JPMorgan, Wells Fargo lead the banks whose quarterly results may offer clues on how consumers and companies fared during a volatile period. The S&P 500 climbed 0.1%, and the Nasdaq rose 0.3% to a record.

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The bank put $50 billion toward lending to riskier companies to compete with nonbank giants dominating the market. The Walgreens deal was the payoff.

Jamie Dimon Says Private Credit Is Dangerous—and He Wants JPMorgan to Get In on It

More men than women are back in their cubicles, but remaining remote comes with risks. “It creates that barrier.”

In America’s Return to the Office, Women Are Falling Behind

Mexico and Europe are grappling with how to respond to a U.S. administration that is using trade policy for a range of political and economic objectives.

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Continuation vehicles were once used by “zombie funds” but now usually contain top-performing companies.

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The short-term rental company now enables guests to book services at its properties. But hosts worry about liability—and not getting a cut.

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The 59-year-old hedge fund titan made his pro-tennis debut in a competitive ATP doubles tournament alongside a Grand Slam champion, and it ended in a straight-set defeat.

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The president again pushed the Fed to lower rates, helping power the S&P 500 and the Nasdaq composite to fresh record closing highs.

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A new group plans to raise at least $20 million to stop the democratic socialist in the city’s mayoral race.

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Recent graduates who haven’t started their gigs at big banks are being recruited for jobs that don’t start for another couple of years.

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Venezuela sells $2.1bn refinery stake

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