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News Highlights: Top Financial Services News of the Day

10/21/2020 | 07:16am EDT
Leveraged Buyouts Come Roaring Back 

Deals including Blackstone's agreement to buy genealogy researcher Ancestry are sparking an LBO revival after an assessment of the damage from the pandemic shutdown on private-equity firms' portfolio companies.

More Corporate Bonds Are Rated Triple-A in China Despite Pandemic 

China's credit-rating firms are doling out more triple-A bond ratings, a trend that has continued this year in spite of the coronavirus pandemic and greater borrowing by companies in the world's second-largest economy.

Applying for PPP Forgiveness? Here Are Some Things to Know. 

The Small Business Administration in August started accepting applications to have some of the more than five million Paycheck Protection Program loans forgiven.

Apollo Board Panel to Review Leon Black Ties With Jeffrey Epstein 

The law firm Dechert has been selected to examine the business dealings between the private-equity firm's CEO and the disgraced financier.

Handelsbanken Profit Disappoints 

Handelsbanken reported a 7% fall in third-quarter net profit and said it has started an investigation into the sale of its Ecster subsidiary and its card acquiring operations.

Former RBA Board Member Urges Stepped Up Bond Buying 

Former Reserve Bank of Australia board member John Edwards has urged the central bank to ramp up government bond buying, saying it is the best option for further supporting the economy as it tries to shake off the Covid-19 recession.

Traders Pick Up Pieces After European Exchange Outages 

A glitch at bourses owned by Euronext left traders with unintended exposures and unsure whether a portion of the trades they placed Monday had gone through.

Berkshire to Pay $4.1 Million to Settle Allegations of Violating U.S. Sanctions on Iran 

Berkshire Hathaway has agreed to pay roughly $4.1 million to settle allegations that a Turkish subsidiary violated U.S. sanctions on Iran.

U.S. Banking Regulator Backs New Liquidity Requirements 

The board of the Federal Deposit Insurance Corp. voted 3-1 to adopt a final rule to set a so-called net stable funding ratio, obliging large banks to hold enough funding to meet their needs for up to a year.

Goldman to Pay $2.8 Billion, Admit Wrongdoing to Settle 1MDB Charges 

Goldman Sachs Group will pay about $2.8 billion and admit wrongdoing to end a bribery probe that stretched from Southeast Asia to Hollywood and reinforced a reputation for scandal that the Wall Street firm has spent years trying to shed.

(END) Dow Jones Newswires

10-21-20 0715ET

Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. -0.26% 58.27 Delayed Quote.19.38%
BERKSHIRE HATHAWAY INC. -0.29% 416557.5 Delayed Quote.18.66%
SVENSKA HANDELSBANKEN AB 0.04% 96.54 Delayed Quote.16.83%
THE GOLDMAN SACHS GROUP, INC. 0.03% 357.32 Delayed Quote.32.28%
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