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News Highlights: Top Financial Services News of the Day

08/10/2022 | 12:16am EDT
Coinbase Posts Steep Second-Quarter Loss Amid Crypto Meltdown 
 

The largest U.S. crypto exchange posted its second consecutive quarter of losses, hurt by sharp loss in trading fees.

 
Commonwealth Bank of Australia's Profit Rises 
 

CBA posted a 6.0% rise in annual net profit driven partly by volume growth across its core home lending and business banking units, and a revision in pandemic-related provisions. The bank also raised its dividend.

 
Senate Bill's $27 Billion in Green Funds Could Spur Private Investment 
 

The Inflation Reduction Act includes money for green banks that help funnel funds into renewable projects, giving a boost to private lenders that can invest alongside them.

 
Investors Regaining Upper Hand Over Silicon Valley Startups 
 

The broad rout in technology stocks has caused venture capitalists to pull back on their spending of recent years. In the new environment, some investment firms have been able to add stringent conditions to funding rounds.

 
TPG Reports Quarterly Loss as Portfolio Value Slides 
 

TPG reported a loss for the second quarter as its investment portfolio declined, although the private-equity manager saw a significant increase in the fees it collected on its investments.

 
State, City Pension Funds Post Worst Year Since 2009 
 

Simultaneous declines in stocks and bonds hammered public pension funds in the latest fiscal year, adding to pressure on government finances.

 
Avaya's Collapsing Debt Deal Hits Clients of Goldman, JPMorgan 
 

The cloud-communications company cut its earnings forecast by more than 60% a few weeks after borrowing $600 million from the banks' investment clients.

 
Munich Re Holds Profit Guidance But  Warns on Investment Returns 
 

UPDATED: Munich Re maintained its net profit guidance for 2022 but warned of a lower return on investment, faced with a cooling economy and higher interest rates.

 
Nielsen Says Buyout Group Has Reached Deal With Largest Shareholder 
 

WindAcre had previously opposed the $10 billion buyout by private-equity firms.

 
Carlyle Board Didn't Respond to CEO's Early Contract Proposal 
 

The precise reasons behind the board's unwillingness to negotiate with outgoing CEO Kewsong Lee aren't entirely clear, but his departure is exacerbating the underperformance of the private-equity firm's stock.


(END) Dow Jones Newswires

08-10-22 0015ET

Stocks mentioned in the article
ChangeLast1st jan.
COINBASE GLOBAL, INC. 4.12% 64.49 Delayed Quote.-74.45%
COMMONWEALTH BANK OF AUSTRALIA -2.60% 90.7 Delayed Quote.-7.80%
MUNICH RE 0.81% 247.5 Delayed Quote.-4.99%
THE CARLYLE GROUP INC. -1.52% 25.84 Delayed Quote.-52.20%
TOP FINANCIAL GROUP LIMITED -3.09% 12.84 Delayed Quote.0.00%
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