Rather than risk selling shares at lower prices in new fundraising rounds, a growing number of venture capital-backed startups are extending previous rounds—in some cases, extending ones that appeared closed over a year ago.

Extended rounds can help safeguard a startup’s private-market valuation, as shares are typically priced at the same level as the initial round, and terms also tend to be the same, speeding the administrative process for funding, according to analysts.

Rounds...

The number of ships navigating around the island on Friday was far lower than usual, down to a handful of vessels from an average of 240 a day over the past week, according to data from Lloyd’s List Intelligence.

“In this past week with these events, things have really clamped down,” said Stephen Kay, a managing director at insurance broker Marsh who specializes in political risk. “Unfortunately, unless somebody already procured [insurance], they’re not going to be able to get it at least until things calm down somewhat.”

American International Group posted second-quarter earnings that showed further improvement in its big property-casualty insurance operations, although stock-market volatility has delayed an initial public offering of its life-and-retirement business that had been expected by midyear.

The global insurance giant had anticipated a partial sale of shares in the unit in the second quarter, subject to regulatory approvals and market conditions. In March, AIG began rebranding the business, one of the nation’s largest providers of retirement and insurance products to institutional buyers and individuals, as Corebridge Financial.

Rick Rieder, who as BlackRock’s head of fixed income oversees roughly $1.7 trillion in assets, or about 20% of the firm’s total assets, owns a home in Palm Beach County and is expected to work out of the new West Palm Beach office space when he is in Florida, according to people familiar with the matter. About 35 other BlackRock employees are expected to start working there early next year, according to BlackRock. 

WASHINGTON—The U.S. Treasury Department on Monday blacklisted cryptocurrency platform Tornado Cash, accusing the firm of laundering more than $7 billion in virtual currency since 2019, including $455 million allegedly stolen by the North Korean-sponsored hacking collective the Lazarus Group.

The action against the so-called mixer platform—which allows users to exchange cryptocurrencies with relative anonymity—represents another salvo by the Biden administration against the burgeoning blockchain financial markets that many regulators, lawmakers and advocates say requires better oversight. Administration officials, backed by law enforcement, say they are particularly concerned by platforms that allow users the type of anonymity that can facilitate money laundering, terror finance and corruption.

The looming prospect of a recession has Wall Street shifting its bets on which debts Americans will make good on and which could lapse.

Some investors are spurning low-rated bonds backed by pools of consumer loans, preferring safer slices of debt that offer more protection when missed payments mount. Others are steering clear of debt tied disproportionately to people with low credit scores, or demanding higher returns to hold it.

The Japanese technology investor on Monday reported its biggest quarterly loss ever: $23.4 billion for the three months ending in June. Investment losses on its $100 billion Vision Fund and its predecessor amounted to $22 billion for the quarter.

The bipartisan group of lawmakers, including Reps. Maxine Waters (D., Calif.) and French Hill (R., Ark.), has sought for the U.S. to counter global competitors launching digital versions of their currencies. The House Financial Services Committee, which both serve on, might vote on related legislation as soon as next month.

Futures on the S&P 500 gained 0.3% and Dow Jones Industrial Average futures rose 0.3%. The contracts don’t necessarily predict moves after the opening bell.

Carlyle Group Inc. Chief Executive Kewsong Lee is leaving the private-equity firm, as it struggles to expand and its shares lag.

Carlyle said late Sunday after The Wall Street Journal inquired about the matter that Mr. Lee will step down as CEO immediately and will leave the firm when his five-year employment agreement ends at the end of this year. William Conway, a co-founder and former co-CEO of the firm, will serve as interim chief executive until a permanent successor can be found.

United Parcel Service is nearing a deal to acquire Italy’s Bomi Group, according to people familiar with the matter, as the transportation giant looks to bolster its medical-product-distribution business.

The deal, worth several hundred million dollars, could be finalized as soon as Monday assuming the talks don’t break down at the last minute, the people said.

Is it time to rethink the percentage of stocks you hold in your portfolio? The standard ratio is often 60% stocks and 40% bonds. Of course, that varies depending partly on an investor’s age or risk tolerance. But with stocks down, inflation rising and a possible recession being declared, some experts say the conventional wisdom might need adjusting.