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News Highlights: Top Financial Services News of the Day

09/28/2022 | 12:16am EST
Banks Fined $1.8 Billion Over Use of Banned Messaging Apps 
 

Eleven banks and brokerages, including Goldman Sachs and Bank of America, admitted they violated rules that require storage of written communications.

 
Goldman Sachs Banks $9.7 Billion for Buyouts 
 

Goldman Sachs's asset-management arm collected $9.7 billion for its latest private-equity fund to invest in buyouts after almost two years of raising capital for the vehicle.

 
Celsius CEO Alex Mashinsky Steps Down 
 

The crypto lender, which filed for bankruptcy in July, said it had more than $20 billion in assets at its peak.

 
U.K. Market Turmoil Ripples Into Home Loans 
 

Some British lenders paused new mortgage lending amid uncertainty about the path of interest rates.

 
Kashkari Says Fed Needs to Keep Tightening 
 

Minneapolis Fed President Neel Kashkari said the U.S. central bank needs to tighten monetary policy until underlying inflation is declining, and then wait to see whether it has done enough.

 
Hurricane Ian Is Blow to Florida's Struggling Home Insurers 
 

The storm will test the state's unusual home-insurance market, where dozens of small to midsize carriers and a state-run insurer of last resort play a leading role in paying claims.

 
Biden's Student-Loan Forgiveness Faces Early Lawsuit 
 

Some other potential challengers plan to go to court once the Education Department rolls out the program.

 
António Horta-Osório Adds Cerberus Role to Post-Credit Suisse Portfolio 
 

The veteran banker has joined Cerberus Capital Management as a senior adviser in Europe, adding to a set of new roles since he was forced to resign from Credit Suisse.

 
Cathie Wood's ARK Launches Venture Fund Open to Individual Investors 
 

The fund is set to invest in businesses similar to those held by ARK's high-growth, technology-focused exchange-traded funds.

 
Fed Official Rejects Raising Inflation Target Above 2% 
 

St. Louis Fed President James Bullard warned Tuesday that a higher inflation target would sow "chaos" globally.


(END) Dow Jones Newswires

09-28-22 0015ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) -0.02% 0.679 Delayed Quote.-6.20%
BANK OF AMERICA CORPORATION -1.29% 36.08 Delayed Quote.-18.90%
BRITISH POUND / US DOLLAR (GBP/USD) 0.03% 1.229 Delayed Quote.-9.40%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.01% 0.742 Delayed Quote.-5.91%
EURO / US DOLLAR (EUR/USD) 0.07% 1.054 Delayed Quote.-7.41%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.11% 0.012297 Delayed Quote.-8.26%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.63% 0.64084 Delayed Quote.-6.84%
TOP FINANCIAL GROUP LIMITED 2.96% 4.87 Delayed Quote.0.00%
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