Need Financing? Here, Have a Blank Check
Nikola, DraftKings and other upstarts are turning to reverse mergers as a way of going public during the economic downturn. These "blank check" deals offer opportunities-and plenty of risk.
Muni Defaults Surge, but Yields Don't Follow
The coronavirus has dealt a harsh blow to state and local government finances. But the municipal bond market rolls on.
Libor Troubles Deepen as Deadline for Benchmark's Demise Approaches
Regulators and investors say the move to a replacement rate remains on track despite setbacks including the coronavirus pandemic.
Duck Creek Valuation Tops $3.5 Billion as IPO Priced Above Views
The insurance software and services company priced its initial public offering of 15 million shares at $27 apiece.
An AmEx Manager Says She Spoke Up About Sales Problems, Then Got Pushed to the Side
Sophia Lewis was a rising star at American Express. She says she saw co-workers mislead the company about cards they sold. "It was when I started raising red flags," she said, "that things started going downhill."
Finance Chiefs Are on the Move as Pandemic Adds Strain
Finance chiefs are changing jobs again after a slowdown in exits and recruitment in the spring, as the pandemic is forcing them to rethink their business models and adding to an already high workload.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
Trump Administration Criticizes New Fannie Mae, Freddie Mac Mortgage Fee
The administration criticized a move by the mortgage-finance companies to charge a new fee on certain mortgages, saying it would harm consumers.
China Broadens Digital Currency Pilot Program
China's commerce ministry unveiled a pilot program to use a digital currency across major cities, expanding on an initiative to launch the first electronic payment system by a major central bank.
Citigroup Pays Revlon Lenders Nearly $900 Million by Mistake
The bank paid nearly $900 million by mistake to Revlon lenders and is asking for the money to be returned, according to people familiar with the matter.