HSBC Profit Slumps on Coronavirus, Trade Tensions
HSBC's net profit fell in the second quarter as the impact of the coronavirus pandemic complicated the bank's efforts to refocus on Asia while dealing with rising U.S.-China political tensions.
SocGen Reports Another Quarterly Loss
Societe Generale vowed to cut costs in its global markets business after the lender swung to an unexpected loss of EUR1.26 billion in the second quarter, as it set aside more money for potential loan losses.
Fed Weighs Abandoning Pre-Emptive Rate Moves to Curb Inflation
The U.S. central bank is preparing to effectively abandon its strategy of pre-emptively lifting interest rates to head off higher inflation, a practice it has followed for more than three decades.
Bitcoin Is Riding High Again as Investors Embrace Risk
The market boom that pushed stocks, bonds and commodities to their best combined four-month spurt in decades has found its way into the most notoriously volatile and speculative asset on the planet: bitcoin.
Wells Fargo Sold Assets Amid Market Turmoil to Stay Within Fed's Limits
Wells Fargo unloaded hundreds of millions of dollars of assets during this spring's market collapse to stay out of trouble with the Federal Reserve.
Fintech Varo Money Gets Rare Green Light to Become Bank
Financial-technology firm Varo Money said it had received a national bank charter, clearing the final hurdle in its quest to become a bank
Why Some Small Businesses Are Breaking Up With Their Banks
When their regular banks didn't come through with PPP loans, some business owners moved their money to smaller rivals.
U.K. Hedge-Fund Manager Crispin Odey Charged With Indecent Assault
Crispin Odey, one of Europe's best-known hedge fund managers, has been charged with indecent assault by U.K. prosecutors.
BNP Paribas Outshines Rivals as Trading Prospers
Shares in BNP Paribas rose as much as 6% as the French lender's earnings suggested it is navigating the coronavirus pandemic better than several other European banks, driven by a boom in its trading businesses.
LSE Mulls Sale of Milan Bourse
London Stock Exchange said it's in exploratory talks to sell its stake in MTS or may even offload the Borsa Italiana as a whole, to get regulatory approval for its Refinitiv deal.