Global bonds pull back from historic yield peaks as Hormuz traffic thins

Cornerstone Network has reshuffled its relationship team to give firms clearer regional points of contact and focused support. The financial services network has appointed Andrew Needham (pictured, right) as head of network relationships for the North, and he will be supported by Nayanaa Prashar (pictured, middle right), relationship manager.  Graeme Lewis (pictured, middle left)…

Vistry Group, one of Britain’s largest housebuilders, has announced it expects to make a £30m loss in the first half of the year after implementing significant discounts to clear unsold housing stock. The company’s shares fell 8% following the announcement, which also revealed the departure of its finance director. The firm had £600m worth of…

CXMT‘s blockbuster Shanghai debut has put it in the spotlight, but analysts say closing the technology gap in advanced memory chips, not investor enthusiasm, will determine whether it can challenge the global market leaders. The Chinese memory maker’s nearly 466% surge in its Monday market debut has fueled optimism that Beijing’s years-long push to build…

The $800 million mortgage backing Stellar Management’s crown jewel office property has been sent to special servicing.  The transfer, which came at the request of the landlord, will allow Stellar to “explore a potential extension or other consensual modification,” according to Morningstar Credit Analytics data reported by Crain’s.  Stellar acquired the property in 2012 for…

An equipment outage on Monday delayed hundreds of flights bound for Newark, New Jersey, and Philadelphia and forced close to 70 planes to divert to other airports. As of 1 p.m. ET, the disruptions had spread to New York City, where flights into LaGuardia Airport and John F. Kennedy International Airport were also halted by…