AIG Swings to Profit on Private-Equity Investments, Premium-Rate Increases

The global insurance conglomerate was helped by the absence of pandemic-related charges. 


 
Robinhood Stock Drops After News of Early Investors Set to Sell Shares

The investing platform's shares fell after a filing with the SEC indicated that early investors in the company can sell up to about 98 million shares, currently valued at almost $5 billion, over time. 


 
RBA Debated Suspending QE Taper; Monitoring Covid Crisis

The Reserve Bank of Australia debated suspending a planned reduction in its weekly government bond buying program at its policy meeting Tuesday, but elected to allow fiscal stimulus to do the heavy lifting as the country faces a potential plunge back into recession amid a worsening Covid-19 outbreak. 


 
Bankruptcy Appeals Are Dismissed Too Quickly, Appellate Court Says

Setting aside bankruptcy appeals without meaningful review under the legal doctrine of "equitable mootness" shouldn't become the norm, an appeals court says. 


 
Cryptocurrency Compromise Emerges for Infrastructure Bill

A key senator negotiating the roughly $1 trillion bipartisan infrastructure bill signaled a willingness to compromise over a provision that seeks to raise money through tougher tax enforcement of cryptocurrency transactions. 


 
U.S. Investor Michael Calvey Found Guilty of Embezzlement in Russia

The verdict against the American private-equity chief came more than two years after his arrest in a case that shook the foreign business community and exacerbated U.S.-Russia tensions. 


 
FASB Mirrors IRS Rules for Valuing Shares Tied to Equity Pay for Private Firms

The U.S. accounting standard setter is aligning its rules for how private companies measure the value of shares tied to stock options and other forms of equity compensation with those of the Internal Revenue Service, a move aimed at reducing the burden on businesses. 


 
Moody's to Buy RMS in Bid to Boost Climate Risk Business

The ratings company said it had agreed to acquire the catastrophe risk-management and modeling firm from its U.K. parent Daily Mail and General Trust PLC for about $2 billion. 


 
Former Executive With Collapsed Insurers Receives Five-Year Prison Sentence

Andrew Scherr pleaded guilty last year in U.S. District Court in Dallas to two criminal counts stemming from the insurers' collapse. 


 
EU Takes Another Step to Harmonize Anti-Money-Laundering Rules

The European Banking Authority has proposed guidance for financial-sector compliance officers, part of a wider revamp of how the EU deals with money laundering.

(END) Dow Jones Newswires

08-06-21 0015ET