Riskier Chinese Property Bonds Suffer as Evergrande Struggles

Bonds from lower-rated Chinese property developers have fallen steeply in price after warnings of a potential default at Evergrande sent investors rushing to protect against trouble elsewhere in their portfolios. 


 
Bank of America Overhauls Top Management Ranks

The bank named a new chief financial officer and added three women to its senior ranks in its biggest leadership reshuffling in more than a decade. 


 
Switzerland Gives Green Light to Crypto Trading Exchange

Stock exchange SIX said its new SIX Digital Exchange will be underpinned by 'the highest Swiss standards of oversight and regulation.' 


 
Fed Prepares for November Reduction in Bond Buying

Phasing out the Federal Reserve's pandemic-era stimulus by the middle of 2022 could clear the path for an interest-rate increase. 


 
Hong Kong's Financial Ties to China Deepen as Wealth Link Launches

The wealth link, a cross-border investment program for individuals, forms part of China's plans under President Xi Jinping to more closely integrate the region. 


 
Wells Fargo Fined $250 Million for Problems in Its Mortgage Business

The Office of the Comptroller of the Currency, one of the bank's top regulators, said the lender had failed to fix problems first identified in 2018. 


 
Spark Capital Shoots for $2 Billion for Next Pair of Funds

The backer of companies like fintech Plaid and messaging startup Discord is raising bigger funds, in line with broad trends in the venture world 


 
TPG Growth Is Rapidly Deploying Its Latest Fund

The strategy's fifth fund closed on almost $3.56 billion in mid-August and nearly half has been committed so far, people familiar with the matter say. 


 
Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services, published exclusively on Dow Jones Newswires. 


 
Democrats Advance Plan to Require Employers to Offer Retirement Plans

A Democratic provision in the $3.5 trillion healthcare, education and climate bill would impose fines on employers with more than five workers who don't deduct a portion of workers' paychecks for retirement savings.

(END) Dow Jones Newswires

09-13-21 0015ET