Franklin Resources to Buy Legg Mason for $4.5 Billion
The deal could help two big players in an industry that is under pressure from shifting investor tastes.
HSBC Plans to Cut 35,000 Jobs, $100 Billion of Assets
Europe's biggest bank said it plans to scale back its operations in the U.S. and mainland Europe, as well as its investment bank, as it reported a sharp fall in net profit.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
Dell Nears Deal to Sell RSA Security Business to Private-Equity Firm STG
Dell Technologies is nearing a deal to sell its RSA cybersecurity business to a private-equity firm for more than $2 billion, according to people familiar with the matter.
Italy's Intesa Bids for Rival, Paving Way for Rare European Banking Deal
Intesa Sanpaolo has made a $5.3 billion takeover offer for a smaller rival, a move that would see the creation of the country's largest bank and might usher in a phase of long-awaited consolidation in Europe.
Companies Seize on Loan Demand With Refinancing Push
Investors' renewed demand for speculative-grade corporate loans is proving to be a boon for businesses, allowing them to cut billions of dollars in borrowing costs in one of the biggest refinancing waves on record.
SoftBank's Boss Bet $22 Billion on Sprint. It Was a Slog.
For Japanese billionaire Masayoshi Son, a U.S. judge's recent approval of a merger between Sprint and T-Mobile is long-awaited payback on his $22 billion investment. But it is far from the triumph he sought when he announced he was taking control of Sprint in 2012.
China's Central Bank Cuts Rate on One-Year Medium-Term Lending Facility
China's central bank on Monday cut a crucial interest rate that could pave the way for lower benchmark lending rates, as Beijing moved to support an economy hit by the outbreak of a deadly coronavirus.
The Bond Market Might Finally Be Nearing Its Limit
For decades bonds have offered a form of insurance for investors, tending to move in the opposite direction to stocks over short periods while making good money over the longer run. But there is reason to believe this win-win might be ending.
RBS Pledges End to Coal Funding, Stricter Oil Rules
Royal Bank of Scotland said it would end financing for coal by 2030 and place stricter rules on oil-and-gas majors it works with, joining other companies that have made similar sustainability moves as investors and the public demand action on climate change.