CME, Nasdaq to Launch Water Futures Contract
Farmers are known to pray for rain. Now they can hedge against unanswered invocations. CME Group and Nasdaq are planning to launch a futures contract later this year that will allow farmers, speculators and others to wager on the price of water.
SocGen Mulls Merging its French Retail Units
Societe Generale said it's looking at merging two banking networks in France to create a major new retail lender in the domestic market.
SEB Faces Fresh Laundering Accusations
Sweden's SEB might have been used to launder around $930 million through its Estonian branch between 2007 and 2016, national broadcaster SVT has claimed.
Bank of East Asia Plans Sale of Life Insurance Business
Bank of East Asia plans to sell its life insurance business as part of its strategic review to enhance the bank's financial position and focus on its core business in Hong Kong and China.
United Wholesale Mortgage to Go Public Via Merger With Gores SPAC
The biggest wholesale mortgage originator in the U.S. is merging with a special-purpose acquisition company in a deal that will take the lender public at a valuation north of $16 billion.
KKR to Invest $754.9 Million in Reliance Industries' Retail Unit
Reliance Industries said that U.S. private-equity company KKR's investment would represent a 1.3% stake in Reliance Retail Ventures Ltd.
September Brings a Reality Check for Stocks
September is living up to its well-known reputation as a poor month for stocks. Investors may grow to appreciate it.
New York Regulator Pushes Insurers on Climate Change
The effort comes amid concerns that severe weather related to climate change is spurring more losses for insurance companies.
Mnuchin, Powell Urge More Spending to Help Economy Recover
The U.S. Treasury secretary and the Fed chairman told lawmakers that emergency loan programs to support the coronavirus-stricken economy were largely working as intended and that more government spending would be needed to sustain the recovery.
Italian Bonds Rally on Election Results
The yield on Italian benchmark 10-year debt fell on Tuesday after the nation's latest election results soothed investors' worries about its historically volatile politics and their impact on the eurozone.