Fed Sees Need for Additional Support but Is Vague on Timing

Federal Reserve officials said at their meeting last month they expected the economy would require greater support recovering from the coronavirus pandemic but were hazy about when they should deploy their tools. 


 
Traders Accused of Market Manipulation Allege Misconduct by Prosecutors

The traders have asked U.S. District Judge John Z. Lee to order a prosecutor to search Justice Department files for evidence that could be exculpatory. 


 
Insurance Executive Greg Lindberg Sentenced to Seven Years and Three Months in Prison

A federal judge sentenced insurance executive Greg Lindberg to seven years and three months in prison for attempting to bribe an insurance commissioner with campaign contributions to secure more favorable regulatory treatment for his insurers. 


 
Scotiabank Fined $127 Million for Price Manipulation, False Statements

The Bank of Nova Scotia agreed to pay more than $127 million to settle civil and criminal allegations in connection with its role in what authorities described as a massive price-manipulation scheme. 


 
Citi Widens Hunt for Revlon Loan Payments

Citigroup widened its effort to claw back money it wired to Revlon lenders, suing more investment firms that say they don't believe a major financial institution sent them portions of a $900 million payment by mistake. 


 
Stride Consumer Partners to Hit the Road With $300 Million Fund Pitch

The new private-equity firm plans to use an RV to bring its pitch to investors in the Midwest in today's pandemic environment. 


 
AIA's Value of New Business Slumps

AIA Group said its value of new business declined to $1.41 billion in the first half, while the new-business margin also slipped to 54.4% due to the Covid-19 restrictions. 


 
Fund's Woes Highlight Risks Lurking in Commodity ETFs

The U.S. Oil Fund has been warned by securities regulators that it could face enforcement action related to its overhaul after oil crashed earlier this year. 


 
The Latest Pain Trade on Wall Street: Banks

Hedge funds that invest in banks are getting bloodied this year, leading to double-digit losses and shutdowns for some funds. 


 
Good Grounds for American Exceptionalism in Stocks

Investors might be surprised that equities are rebounding to record highs despite the coronavirus pandemic. But based on countries' economic policies, it's no surprise the U.S. got there first.