SoftBank, Andreessen Horowitz Set Up New Funds to Back Diverse Founders

Two high-profile venture firms unveiled efforts to back startup founders of color, amid an escalation of racial tensions in the U.S. SoftBank's $100 million fund appears to be the largest of its kind. 


 
Abu Dhabi's Mubadala to Invest $1.2 Billion in Jio Platforms

Abu Dhabi-based Mubadala Investment Co. has agreed to invest $1.21 billion in Jio Platforms Ltd., joining the list that includes Facebook Inc. and other foreign firms eager to buy a stake in the Indian telecommunications and technology giant. 


 
BNY Mellon Whistleblower Who Revealed Currency Abuses Gets $50 Million

The Securities and Exchange Commission awarded a former trader at Bank of New York Mellon Corp. $50 million, a record whistleblower payment from the agency. 


 
Euro Jumps as ECB Expands Bond-Buying Program

The euro climbed to a nearly three-month high against the dollar and yields on southern European debt fell as investors cheered the European Central Bank's expansion of its bond-purchase program. 


 
ECB Ramps Up Stimulus Program Beyond $1.5 Trillion

The European Central Bank scaled up its bond-buying program in a bold move that puts the ECB's stimulus effort in line with that of the Federal Reserve, while U.S. unemployment and trade data pointed to a rocky recovery from the pandemic shutdowns that crippled the global economy. 


 
Westpac Says Money-Laundering Breaches Due to Technology, Human Error

The Australian lender said an internal investigation didn't uncover wrongdoing by staff. 


 
Chinese Bond Yields Climb

Chinese bond yields have risen to multi-month highs, as investors have dialed back hopes for more aggressive easing from the country's central bank. 


 
Health Insurers Offer Premium Discounts

Anthem is joining the growing number of health insurers offering premium discounts, as the companies see savings from sharp drop-offs in surgeries and other types of care canceled because of the coronavirus pandemic. 


 
Alaska Permanent Fund Braces for Modest Near-Term Write-Downs

Alaska Permanent Fund Corp. is bracing for declines in its private-equity portfolio over the next two quarters, but the damage might not be as severe as one would expect. 


 
Why Mr. Market Ignores a World in Turmoil

TV gameshows have demonstrated that humans are prepared to make fools of themselves when there is a chance of winning a big pile of cash. Instead of a fast-talking game show host we have Mr. Market.