Turkey's Unexpected Rate Rise Gives Lira a Lift
Turkey's central bank raised its interest rates-a surprising step amid recurrent calls by President Recep Tayyip Erdo an to keep them low-in an attempt to counter the country's economic problems.
Even in a Pandemic, Venmo Tells Conned Customers to Pay Up
Venmo has fostered a compassionate public image during the pandemic, touting the popular payments app as a way to virtually tip out-of-work bartenders and give to hospitals. Yet it has taken a harder line against users who ended up overdrawing their accounts.
Banks Love 2020 Market, but Market Doesn't Love Them Back
While investors are still sour on the stocks of big banks, industry executives say parts of the business are booming
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
Fed Officials Step Up Calls for More Government Spending to Speed Economic Recovery
Fed officials say additional fiscal stimulus is needed to avoid an uneven and protracted recovery from the coronavirus pandemic.
Bank to Pay Record Fine for 23 Million Money-Laundering, Terror-Financing Breaches
Westpac, Australia's second-largest bank, said it would pay a $920 million penalty for breaches that included a failure to detect transfers that may have been used to facilitate child exploitation in Asia.
Mitsubishi UFJ Lease & Finance, Hitachi Capital Agree to Merge
The merged Mitsubishi UFJ Lease and Hitachi Capital entity would have 10 trillion yen in assets and nearly 10,000 employees.
Wells Fargo CEO Apologizes for Comment on Recruiting Black Employees
Wells Fargo Chief Executive Charlie Scharf apologized in a letter to employees for his remarks related to recruiting Black talent.
JPMorgan Nears Deal to Settle Spoofing Probes
The bank would pay about $1 billion to wrap up investigations into whether its trading desks manipulated prices for metals and Treasury securities.
GGV Capital Hits the Fundraising Trail Amid Fresh U.S.-China Tensions
GGV Capital is on the fundraising trail seeking about $2 billion for three new funds focused on technology investments in the U.S. and China at a time of heightened tensions between the two countries.