Morgan Stanley takes over from longstanding CIO and his team.

The reallocation sees the fund increasing its overall investment in private equity by 400 basis points.

The pullbacks of Palihapitiya, Ackman and other investors illustrate the blank-check companies’ rough road.

While the armadas of container ships waiting for berths have shrunk, other problems lurk for cargo transport.

As inflation rises, bank deposits fall by nearly $370 billion in the second quarter—the largest decline in 20 years.