Fed's Williams: SOFR Rate System Has Performed Well During Crisis

Federal Reserve Bank of New York President John Williams said that a replacement for the scandal-plagued Libor interest-rate reference regime has fared well amid the stresses seen in the financial system during the coronavirus pandemic. 


 
Bridgewater Loses Claims It Brought Against Ex-Employees

The firm lost an arbitration dispute with two former investment staffers who started their own hedge fund, a rare setback for Bridgewater that could hamper its ability to limit ex-employees' options after they leave. 


 
Oat-Milk Company Draws Investment From Blackstone-Led Group Including Oprah

Swedish oat-milk maker Oatly has sold a $200 million stake to a group led by private-equity giant Blackstone Group that includes Oprah Winfrey, Natalie Portman, former Starbucks chief Howard Schultz and the entertainment company founded by Jay-Z. 


 
Hedge Fund Challenges Latam Shareholders to Finance Airline's Bankruptcy

Hedge fund Knighthead Capital Management and other investors challenged a proposed loan to carry Latam Airlines Group through bankruptcy, saying the rescue financing would enrich some of the company's largest shareholders. 


 
London Banks Urged to Pay Reparations for Links to Slavery

The Black Lives Matter movement is reinvigorating a yearslong campaign to push some of London's oldest financial institutions to pay reparations to the descendants of slaves. 


 
Jefferies Names Barclays Executive as New Finance Chief

The former CFO of Jefferies, Peg Broadbent, died from complications related to Covid-19-the disease caused by the novel coronavirus-in late March. 


 
New Zealand Banks Tighten Lending to Hard-Hit Industries

New Zealand banks have tightened lending to industries worst hit by the pandemic and expect lower demand for credit despite easier monetary conditions, according to a central bank survey. 


 
Blank-Check Boom Gets Boost From Virus

With the IPO market rattled by Covid-19 and wild volatility, using a blank-check company has become a more attractive way to go public. So far in 2020, new listings of such vehicles have raised $12.1 billion. 


 
Why Covid-19 Won't Stop the New Shadow Banks

Funds that extend loans directly to companies face some trouble, but the big players will likely use the crisis as an opportunity to expand. 


 
Investors Find New Safe Place to Hide: Chinese Bonds

Foreign capital flowed into locally denominated Chinese government bonds in the second quarter at the fastest pace since late 2018.