Credit Suisse Shakes Up Management at Investment Bank
Credit Suisse Group said it had appointed new leadership to head its investment banking and capital markets division, as the Swiss bank struggles to boost revenue.
Boston Fed President Warns Central Banks Have Limited Tool Kits
Eric Rosengren warned on Monday many top central banks have a limited tool kit to deal with the next downturn, and added efforts to rollback regulations on banks may be exacerbating risks to the financial sector.
UBS Fined for Misleading and Overcharging Wealthy Clients for a Decade
UBS overcharged and misled wealthy clients for a decade without detection, Hong Kong's securities regulator said, as it fined the bank and demanded millions of dollars in customer compensation.
Bank Share Buybacks Are a Limited-Time Offer
Share buybacks worth a total of $4 billion offer a rare reason to get excited about Europe's beleaguered banking sector right now. Investors should enjoy the boost while it lasts.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
JPMorgan Deal Shows Possible Path to Smaller Fannie and Freddie
A move by JPMorgan to shed risk on some of its mortgage loans is stirring hope that the tactic could help reduce the government's role in the $11 trillion mortgage market.
Executives Convicted in Long-Running Italian Banking Scandal
A Milan court on Friday convicted 13 former and current executives of Banca Monte dei Paschi di Siena, Deutsche Bank and Nomura International in a long-running judicial saga tied to losses at the troubled Italian bank.
Carlyle's Acosta Strikes Creditor Deal For Prepackaged Bankruptcy
The agreement has the support of more than 70% of Acosta's lenders and more than 80% of its bondholders, the company said Friday. As part of the deal, investors agreed to convert their debt to equity while committing to inject $250 million in new capital, Acosta said.
As WeWork Grew, Wall Street Lent It Money, Credibility
Banks jockeying for a role in WeWork's public debut wooed founder Adam Neumann with sky-high valuations that would make him a billionaire many times over. Their loans to the company told a different story.
Blackstone Takes Controlling Stake in Owner of Dating App Bumble
Blackstone Group is taking a majority stake in the owner of dating app Bumble as part of the private-equity giant's broader push to invest more in fast-growing companies.