Lynn Tilton to Face New York Court Fight With Investor
Turnaround executive Lynn Tilton is headed toward trial in New York this fall, after failing to block a long-running lawsuit from an early investor in her Zohar funds, investment vehicles meant to make loans to distressed companies.
Facebook's Libra Bets It Can Bank the Unbanked
Facebook has an ambitious goal for its proposed cryptocurrency, Libra: to bring financial services to the hundreds of millions of people world-wide who don't use banks or other traditional institutions. The cryptocurrency sector has for years tried to do the same and failed.
Bank of New York Mellon Loses Key ETF Customer to State Street
Bank of New York Mellon lost VanEck Associates as a client of its servicing business for exchange-traded funds to rival State Street.
Two Fed Officials Express Opposition to Rate Cuts in TV Interviews
The leaders of the Kansas City and Philadelphia Fed banks both said that while there are risks to the outlook the current path of data suggests lowering short-term borrowing costs doesn't offer much benefit to the economy.
TPG Cuts Fundraising Target for Impact Fund Following McGlashan Departure
TPG has scaled back its ambitions for its latest profit-for-purpose fund after the abrupt departure of former managing partner William McGlashan Jr. earlier this year.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
Powell Faces Challenge Defining Doctrine Around When to Cut Rates
Fed Chairman Jerome Powell's challenge in the weeks ahead is to articulate clearly why the central bank is likely to continue reducing rates absent obvious signs of economic deterioration.
Fannie, Freddie Plan Is Likely Released Next Month
The Trump administration is preparing to release as early as the first part of September its long-awaited plan to return Fannie Mae and Freddie Mac to private-shareholder ownership.
Fed Officials Viewed July Rate Cut as 'Recalibration' of Policy
Federal Reserve officials saw their move to cut interest rates last month as a "recalibration" rather than the start of a more aggressive easing cycle and were reluctant at their latest policy meeting to say how future moves would unfold.
Aflac Shares Fall on Affiliation With Japan Post
Insurer Aflac shares slid on news reports that a scandal at Japan Post Holdings Co. included improper sales of Aflac products.