Tencent Posts Surprise Profit Growth Despite Economic Slowdown 
 

The Chinese social-media and videogame juggernaut has cut costs and reduced head count to improve profitability.

 
Huawei Bets on Another Premium 4G Phone 
 

Would you buy a premium-priced smartphone that doesn't have 5G? Huawei thinks its customers will, at least in China.

 
How the Last-Ditch Effort to Save Silicon Valley Bank Failed 
 

The bank couldn't get loans, and withdrawals accelerated before its seizure.

 
First Republic Bank Taps Lazard for Help With Review of Strategic Options 
 

The California bank seeks to regain its footing after the failure of two other lenders caused its depositors to flee.

 
Silicon Valley Bank's Former Parent Says FDIC Seized About $2 Billion of Its Cash 
 

The Federal Deposit Insurance Corp. says the former parent, SVB Financial, might have to shoulder costs related to the bank failure.

 
TikTok CEO Shou Zi Chew Promises Firewall to Shield User Data 
 

In his prepared remarks to Congress, the CEO will say that TikTok 'will not be manipulated by any government.'

 
Ares Forms $1 Billion Credit Secondary Venture With Mubadala 
 

The venture will acquire portfolios of credit-fund stakes from institutional investors, many of which are selling assets to make up for liquidity shortfalls.

 
GameStop Shares Surge After It Posts Surprise Profit 
 

The videogame retailer recorded its first quarterly profit in two years.

 
Nike Sales Jump as It Works Through Inventory Glut 
 

Profit at the sneaker maker fell 11% as it relied on higher markdowns.

 
UBS to Buy Back Some of Its Own Bail-In Notes 
 

UBS is launching a tender for senior bail-in notes worth EUR2.75 billion in aggregate that were issued last week, just before its agreement to take over Credit Suisse.

(END) Dow Jones Newswires

March 22, 2023 07:15 ET (11:15 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.