Bitcoin Price Tumbles After Wall Street Selloff

The cryptocurrency fell more than 20%, hitting its lowest point in months, before bouncing back somewhat. 


 
Allianz Strikes Deal Over Management of $35 Billion in U.S. Annuities

The financial giant's U.S. life insurer reached an agreement to reinsure liabilities of $35 billion in one of the largest transactions of its kind. 


 
AmEx Business Travel Going Public Through Merger With Apollo SPAC

The booking services provider under CEO Paul Abbott is merging with a blank-check company after it made several acquisitions during the pandemic. 


 
Declining Jobless Rate Keeps Fed on Track to Accelerate Taper

The Federal Reserve could act at its meeting later this month, paving the way to raise interest rates in the first half of next year to curb inflation. 


 
Biden Struggles to Win Support From Democrats for Vacant Wall Street Regulation Posts

The slow-moving process could force tough votes for Democrats ahead of next year's midterm elections, while delaying the Biden administration from putting its stamp on financial rules. 


 
Cathie Wood's ARK Innovation ETF Sinks During Selloff

A broad selloff in technology shares is punishing fund manager Cathie Wood's flagship ARK Innovation exchange-traded fund. 


 
Fed's Bullard Is Upbeat on Jobs Data, Presses for Hawkish Monetary Policy

The St. Louis Fed chief said the November hiring data looks quite strong, as he again made a case for speeding the withdrawal of central-bank stimulus for an economy he believes is now in full recovery. 


 
Private Equity Faces Calls for Tougher Rules Against Money Laundering

As Congress considers stricter measures against money laundering, advocates stress risks from fund advisers. 


 
At Block's Base, the Same Square

Changing Square's name to Block might highlight Jack Dorsey's bitcoin bets, but the stock's value rests on much more than that. 


 
Companies Cling to Libor as Key Deadline Nears

Banks can't issue new loans using the troubled rate after Dec. 31, so some companies are looking to pull off one last deal before then.

(END) Dow Jones Newswires

12-06-21 0015ET