Fed's Clarida Sees Third-Quarter Growth, Slow Recovery
Federal Reserve Vice Chairman Richard Clarida said he expects the economy to grow in the third quarter, adding that activity could return to pre pandemic levels by the end of 2021.
Treasury Expects Borrowing Needs to Remain Elevated Amid Coronavirus Spending
The Treasury Department expects the government's borrowing needs to moderate somewhat this quarter but remain elevated amid an unprecedented surge in federal spending to combat the coronavirus pandemic.
Commerzbank Takes Hit on Wirecard Loan
Commerzbank, Germany's second-largest lender, took a big financial hit from its exposure to fintech firm Wirecard.
Allianz Confident on Outlook
Allianz reported a fall in second quarter operating profit to EUR2.57 billion following weakness at its property-casualty business, but said it expected "a solid financial performance" for the rest of 2020.
Quicken Loans Parent Prepares for a Big IPO
A red-hot mortgage market could propel the country's top mortgage lender to one of the biggest public offerings this year.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
Insurers Report Mixed Results From Covid-19
Two giant sellers of insurance to consumers-Allstate and Prudential Financial-reported results that reflected the far-ranging impact of Covid-19.
Blackstone Joins Clearlake and Insight in Backing Software Maker Diligent
Blackstone Group is joining investors in Diligent in a deal that values the maker of corporate-governance software at north of $4 billion.
RBC Seeks to Pump Up Its AI Models With a New Platform
Its new AI private cloud can analyze more than 13 million client records in under 20 minutes, the bank says.
Turkish Lira's Borrowing Cost Shoots Up on Offshore Markets
The interest rate attached to swapping dollars for lira reached 1,000%, traders said, as Turkey restricted access to a currency that was once a darling of emerging-market investors.
