JPMorgan, Citigroup Signal That Economy Isn't Out of the Woods

Both banks reported better-than-expected results, but JPMorgan CEO James Dimon said the U.S. needs another coronavirus relief package. 


 
Capital Group Boosts Stake in Deutsche Bank

The U.S. investor's move sounds a note of confidence in the troubled European banking sector. 


 
BlackRock's Profit Climbs on Steady Inflows, Higher Fee Revenue

Money-management giant BlackRock's third-quarter profit rose 22% as investors turned to many of its funds to quickly get into markets as well as try to beat them. 


 
Blackstone-Backed Lender Is Set for IPO

Finance of America Equity Capital, a Blackstone Group-backed consumer-lending platform, is set to go public with a $1.9 billion valuation in a merger with blank-check company Replay Acquisition. 


 
Credit Suisse Hires Veteran Meissner to Lead New Unit Serving Wealthy Clients

Christian Meissner will be co-head of international wealth-management investment banking advisory and vice chairman of investment banking. 


 
Invesco to Launch Four Funds Tied to Flagship QQQ Tech ETF

At $134 billion, the Qs, as it is known across Wall Street, has grown to become one of the biggest exchange-products in the world and accounts for roughly 42% of Invesco's ETF assets. 


 
IMF Sees Potential 'Major Resilience Test' From Pandemic

Companies that borrowed heavily at low interest rates to cope with the coronavirus crisis may have trouble paying their debts, increasing the risk of bankruptcies, the IMF said in its Global Financial Stability Report. 


 
JPMorgan Profit Shows Resilience in Face of Covid-19

The largest bank in the U.S. by assets set aside just $611 million for potential future loan losses, compared with $10.47 billion in the previous quarter. 


 
Citigroup Profit Falls 34%

The bank set aside billions of dollars in the third quarter to cover potential losses in the coronavirus recession. Still, the results were better than the second quarter's and topped analyst expectations. 


 
Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services

(END) Dow Jones Newswires

10-13-20 1615ET