Turkish Lira's Borrowing Cost Shoots Up on Offshore Markets
The interest rate attached to swapping dollars for lira reached 1,000%, traders said, as Turkey restricted access to a currency that was once a darling of emerging-market investors.
KKR Reports Second-Quarter Profit Amid Financial-Market Recovery
The result marked a rebound for the asset-management company after it logged a large first-quarter loss.
Beleaguered Public Pension Funds Make Record Gains in Second Quarter
Double-digit stock gains gave a welcome boost to investment returns of many public pension funds, yet many remain far off long-term targets.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
AIG Swings to Quarterly Loss
Global insurer American International Group swung to a loss for the second quarter driven in part by substantial costs tied to the pandemic.
Manhattan Prosecutor Seeking Trump Taxes Says Request Is Justified
The Manhattan district attorney's office says it is justified in seeking financial documents from President Trump and his company as part of a complex investigation into alleged insurance and bank fraud.
Commerzbank Names New Chairman, Defying Big Investor Cerberus
German lender Commerzbank appointed former state bank executive Hans-Jörg Vetter as its new chairman, ignoring opposition from its second-largest shareholder, Cerberus Capital Management.
Société Générale Retreats From Risky Structured Products
Société Générale, stung by coronavirus-related trading losses earlier this year, plans a retreat in its investment banking unit and posted a surprise loss, even as rivals thrived on the increase in stock and bond trading.
HSBC Profit Slumps on Coronavirus, Trade Tensions
HSBC's net profit plummeted 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.
