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News Highlights: Top Financial Services News of the Day

05/29/2020 | 12:16am EDT
House Passes Bill Loosening Rules on PPP Small-Business Loans 

The bipartisan measure would ease requirements on hundreds of billions of dollars in loans issued under Paycheck Protection Program to aid employers struggling to stay open during the pandemic.

Turkey Borrowed Foreign Currency as Lira Tumbled 

Turkey's central bank ramped up foreign-currency borrowing from local banks to a record high last month, as it moved to reverse a steep fall in the local currency.

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.


Stocks mentioned in the article
ChangeLast1st jan.
BASE CO., LTD. -2.62% 5570 End-of-day quote.-9.43%
BASE, INC. 1.82% 1682 End-of-day quote.-13.83%
EURO / US DOLLAR (EUR/USD) 0.13% 1.19438 Delayed Quote.-2.33%
KKR & CO. INC. 1.30% 60.13 Delayed Quote.48.51%
NETEASE, INC. 1.00% 107.6 Delayed Quote.12.35%
US DOLLAR / TURKISH LIRA (USD/TRY) -0.06% 8.6875 Delayed Quote.16.27%
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