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News Highlights: Top Financial Services News of the Day

05/28/2020 | 11:16am EDT
Ill-Timed Health-Care Buyouts Bruise KKR and Blackstone 
 

Envision Healthcare and TeamHealth have faced a litany of problems since KKR and Blackstone acquired the physician-staffing companies in 2018 and 2017, respectively. The coronavirus crisis is their latest challenge.

 
Weakening of Foreign Currencies Opens Up Hedging Options 
 

Companies are seeing a hedging opportunity as several currencies have weakened against the U.S. dollar over the past few months.

 
Rocket Internet Posts Loss as Expected 
 

Rocket Internet reported a first quarter net loss in line with its May 11 forecast, as market disruption from the coronavirus pandemic hit valuations of companies in its portfolio.

 
Franklin Templeton Employee Firing Reflects Emphasis on Diversity 
 

The firing of a Franklin Templeton employee accused of launching a racist tirade against an African-American man in New York City reflects the new corporate emphasis on diversity and inclusion practices, with the goal of becoming more attractive employers, observers said.

 
Financial Services Roundup: Market Talk 
 

The latest Market Talks covering Financial Services

 
Bank of Korea Cuts Rate to Record Low 
 

South Korea's central bank cut its base rate to a record low on Thursday, adding further stimulus as the coronavirus pandemic threatens to drag growth to its lowest in more than two decades.

 
RBA's Lowe Less Downbeat on Australian Economy 
 

Reserve Bank of Australia Gov. Philip Lowe told a parliamentary committee on Covid-19 that the economy is now tracking somewhere between the central bank's earlier published central economic scenario and an upside scenario.

 
Two Chinese Tech Firms Prepare Hong Kong Listings 
 

Two of China's most valuable U.S.-listed companies, NetEase and JD.com, are pushing ahead with multibillion-dollar share sales in Hong Kong as U.S. lawmakers raise pressure on Chinese companies listed in the U.S.

 
Marathon Partners to Launch Proxy Fight With e.l.f. Beauty 
 

Marathon Partners is planning to nominate three directors to e.l.f. Beauty's board, a rare instance of an activist investor launching a proxy fight since the coronavirus shook American corporations.

 
Japan Bank's Foray Into Risky U.S. Debt Leaves $3.7 Billion Hole 
 

Norinchukin, which serves Japanese farmers and fishermen, was the biggest buyer of debt used to fund private-equity buyouts. It has taken a $3.7 billion hit and said it would stop investing in that market.

 
 

Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. 3.80% 5460 End-of-day quote.-11.22%
BASE, INC. 1.39% 1828 End-of-day quote.-6.35%
EURO / US DOLLAR (EUR/USD) -0.02% 1.21179 Delayed Quote.-0.87%
KKR & CO. INC. -2.14% 55.29 Delayed Quote.36.55%
NETEASE, INC. 0.95% 114.16 Delayed Quote.19.20%
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