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News Highlights: Top Financial Services News of the Day

01/19/2022 | 12:16am EDT
Goldman Pays Up for Talent, Sending Profits Down 

The Wall Street giant's compensation expenses soared 33% in 2021, contributing to a fourth-quarter earnings decline. JPMorgan and Citigroup also spent more on pay.

Blackstone Property Fund Targeting Small Investors Passes $50 Billion 

Blackstone Real Estate Income Trust, started five years ago, has scooped up rental-apartment buildings, warehouses, office buildings and casinos, among other types of properties.

Puerto Rico Released From Bankruptcy as Problems Persist 

A federal judge approved the largest-ever restructuring of U.S. municipal bonds, easing the island's re-entry to capital markets.

Charles Schwab Stock Tumbles as Earnings Miss Estimates 

Fourth-quarter adjusted earnings of 86 cents a share missed analysts' estimates by 2 cents. Halts Withdrawals After Suspicious Account Activity 

CEO Kris Marszalek said no user funds were lost. The company will offer a full report after it completes an investigation.

Wells Fargo Names Derek Flowers Its Chief Risk Officer 

Mr. Flowers, a 24-year veteran at the bank and previously its head of strategic execution and operations, replaces Amanda Norton in the role.

BJ's Wholesale Club to Move Credit Cards to Capital One, a Blow to ADS 

The warehouse club sued Alliance Data Systems, saying the card issuer isn't moving fast enough to transfer accounts.

EQT Aims to Raise Almost $23 Billion for Buyout Fund 

EQT AB expects to raise at least EUR20 billion, equivalent to about $22.81 billion, for a 10th buyout fund to further expand its U.S. presence, according to Per Franzen, a partner and global head of private capital's advisory teams.

TCV Aims for $5.5 Billion for Latest Growth Fund 

Technology Crossover Ventures, which has backed vacation rental company Airbnb, exercise equipment maker Peloton and video streaming service Netflix, has returned to the fundraising circuit and is targeting $5.5 billion for its latest flagship private-equity fund, according to people familiar with the effort.

Melody Collects $1.95 Billion for Digital Infrastructure Fund 

Melody Investment Advisors has raised $1.95 billion for a new fund to invest in cell towers, optical fiber, data centers and other digital infrastructure, aiming to seize on growing data volumes.

(END) Dow Jones Newswires

01-19-22 0015ET

Stocks mentioned in the article
ChangeLast1st jan.
AIRBNB, INC. -5.77% 114.44 Delayed Quote.-31.26%
BJ'S WHOLESALE CLUB HOLDINGS, INC. 3.19% 64.33 Delayed Quote.-3.94%
BLACKSTONE INC. -2.89% 104.7 Delayed Quote.-19.08%
BREAD FINANCIAL HOLDINGS, INC. -2.37% 49.8 Delayed Quote.-25.19%
CAPITAL ONE FINANCIAL CORPORATION -2.14% 113.97 Delayed Quote.-19.73%
CITIGROUP INC. -0.38% 47.46 Delayed Quote.-21.41%
CRYPTO.COM COIN (CRO/USD) -5.06% 0.1932 End-of-day quote.-67.00%
EQT AB (PUBL) 1.10% 275.1 Delayed Quote.-44.71%
JPMORGAN CHASE & CO. -0.70% 118.26 Delayed Quote.-24.79%
NETFLIX, INC. -0.60% 186.51 Delayed Quote.-69.04%
ON SEMICONDUCTOR CORPORATION -1.83% 55.15 Delayed Quote.-18.80%
S&P 500 -0.39% 4008.01 Real-time Quote.-15.57%
THE CHARLES SCHWAB CORPORATION -2.39% 64.04 Delayed Quote.-23.85%
WELLS FARGO & COMPANY -1.01% 42.21 Delayed Quote.-12.03%
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