Wall Street Firm Will Pay Junior Bankers Not to Work

Evercore Partners is offering to pay incoming junior bankers up to $25,000 to delay starting their jobs during the coronavirus pandemic. 


 
HSBC Throws Support Behind China on Hong Kong Security Law

A top HSBC executive signed a petition supporting China's move to impose security legislation on Hong Kong, putting the bank squarely on the side of Beijing in the fight over the future of the territory. 


 
Westpac Says Money Laundering Breaches Due to Technology, Human Error

Westpac Banking said millions of breaches of anti-money-laundering finance laws were caused by technology shortcomings and human mistakes, but an internal investigation had not found intentional wrongdoing by any of its staff. 


 
U.S. Labor Department Allows Private Equity in 401(k) Plans

Americans saving for retirement could soon find it easier to invest in private-equity funds, as the Labor Department on Wednesday approved including the asset class in defined-contribution plans like 401(k)s. 


 
Fed Expands Municipal-Lending Facility to More Localities

The Federal Reserve said it would again broaden the number of local governments eligible for a new lending program as Illinois announced it would be the first borrower to access the facility. 


 
Davos Meeting Going Ahead Next Year, Says World Economic Forum

The World Economic Forum will go ahead with its annual meeting of corporate and policy-making heavyweights in the Swiss mountain resort of Davos in January, billing the gathering as an opportunity to examine the impact of the new coronavirus on the world's economies and societies. 


 
Actis Sees Investors 'Doubling Down' on ESG After Pandemic

More investors may look for the environmental, social and governance aspects of investments, particularly in emerging markets, Actis's Shami Nissan says. 


 
Lockdown Winners and Losers Shouldn't Both Be Rallying

The stock market is sending a contradictory signal about the global economy. Bulls ought to be wary. 


 
Investors Channel Over $150 Billion Into Coronavirus Bonds

The coronavirus pandemic has led to a new class of bonds, paving the way for fund managers to springboard from socially responsible investing to putting money toward the health crisis. 


 
Fed Promised to Buy Bonds but Is Finding Few Takers

The central bank thawed credit markets in March by promising a whatever-it-takes program to buy corporate bonds. Ten weeks later, the Fed has yet to buy a single bond.