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A Japanese supercomputer built with technology from Arm Ltd, whose chip designs power most of the world’s smartphones, has taken the top spot among the world’s most powerful systems, displacing one powered by IBM chips. The Fugaku supercomputer, a system jointly developed by Japanese research institute RIKEN and Fujitsu in Kobe, Japan, took the highest …

Hertz Global Holdings is in talks for a bankruptcy loan of up to $1 billion to fund its business reorganization after suspending its plan to sell new shares, The Wall Street Journal reported on Thursday, citing people familiar with the matter. The car rental firm halted its plan to sell up to $500 million in …

Read More: Carl Icahn’s Hertz could face bankruptcy amid coronavirus woes: sources Carl Icahn takes $1.8 billion loss as he dumps stake in bankrupt Hertz Hertz wants to cash in on surging shares amid bankruptcy Hertz may be on verge of liquidation

US bank profits fell by 69.6 percent, to $18.5 billion, in the first quarter of 2020 from the year prior as banks felt the economic impact of the novel coronavirus pandemic, according to data from a banking regulator. The Federal Deposit Insurance Corp. reported that “deteriorating economic activity” caused lenders to write off delinquent debt …

Car rental giant Hertz has filed for bankruptcy because it doesn’t have enough money to pay its debts — and its stock is soaring. Welcome to the coronavirus stock market, where mom-and-pop day traders addicted to free trading apps are taking control. The bankrupt car-rental company announced plans to sell up to $1 billion in …

Goldman Sachs said on Wednesday it had launched a $10 million fund to support the work of organizations addressing racial injustice, structural inequity and economic disparity. The bank will match employee donations to recipient organizations, it told customers of its online bank, Marcus. An e-mail by a Goldman employee about his experiences of racial injustice …

A group of financial lenders is angling to acquire Cirque du Soleil in a possible bankruptcy reorganization — and they may partner with its charismatic co-founder, The Post has learned. The cash-strapped circus — which was forced in March by the coronavirus pandemic to shutter dozens of shows in cities worldwide — on Monday got …

Jamie Dimon’s first public sighting since he underwent heart surgery three months ago has resulted in a photo of him kneeling at a local Chase branch — sparking questions about whether he was “taking a knee” in solidarity with widespread racial justice protests. The 63-year-old CEO of JPMorgan Chase underwent emergency heart surgery on March …

Private equity firm Sycamore Partners is in preliminary talks to acquire JCPenney out of bankruptcy should the US department store chain’s negotiations with its creditors fail, three people familiar with the matter said on Friday. Shares of JCPenney jumped almost 55 percent on the news. JCPenney, which employs roughly 85,000 people, filed for bankruptcy protection …

The long and murky relationship between Jeffrey Epstein and Deutsche Bank has caught the attention of New York regulators. Months of investigation by the New York’s financial watchdog agency, the Department of Financial Services, may spur a punishment of the German lender for its decision to keep the famous sex criminal as a client years …