Goldman Profit More Than Doubles, Powered by Trading

The Wall Street firm's revenue rose 18% above 2019's fourth-quarter level as it benefited from a relatively small loan book and heavy exposure to underwriting and trading securities. 


 
Alibaba's Jack Ma Resurfaces After Months of Laying Low

Jack Ma, the billionaire founder of China's Alibaba and controlling shareholder of financial affiliate Ant Group, made a public appearance, his first since regulators began clamping down on his business empire. 


 
Banks Need a Pickup in Loans to Prosper

Things may improve for banks, but without loan demand, revenue growth will still be hard to come by. 


 
Bank of America Earnings Weighed Down by Low Rates

The bank's profit declined 22% in the fourth quarter as rock-bottom interest rates pose a challenge for lenders. Still, per-share earnings topped analyst estimates. 


 
Global Venture Capital Clusters in Fewer Firms

More venture capital is concentrating in fewer hands, a trend seen around the world. 


 
Blackstone's Pre-Covid-19 Portfolio Shifts Have Turned Out Well

The investment firm boosted exposure in the hot industrial-space category and shifted out of the retail and traditional office space. 


 
After 144 Years, LME Proposes Closing Trading Ring

The London Metal Exchange is proposing closing its open-outcry ring, where traders have swapped metals like copper and lead using shouts and hand signals for 144 years, in a bid to attract more financial players to its marketplace. 


 
Money Managers Look to Blue Seas for Green Investments

Specialist ships catering to offshore wind farms are proliferating as the world reduces its reliance on fossil fuels. The need to finance the vessels has lured money managers chasing investments that check the environmentally friendly box and provide yield. 


 
Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services 


 
Renaissance Says Losses Should Have Been Expected at Some Point

The quant hedge fund told clients that a recent drop of 20% to 30% was partially due to increased market volatility.

(END) Dow Jones Newswires

01-20-21 0015ET