Crossover Hedge Funds Lost Big in 2022. They're Still Launching in 2023.

Managers say opportunities remain despite an uncertain economic outlook. 


 
Financial Firm Beneficient Asks Court to Keep Misconduct Allegations Sealed

Financial firm Beneficient urged a bankruptcy court to keep sealed details of an investor claim that it siphoned funds from its former parent company, saying that disclosing such allegations would cause further financial damage for the firm and its investors. 


 
Goldman Lost $3 Billion on Consumer Lending Push

The newly disclosed figure reveals a costly toll since 2020 of the Wall Street firm's push to build out Main Street businesses. 


 
U.S.'s Biggest Banks Gird for a Recession

The four big U.S. banks that reported results Friday collectively stowed away $2.8 billion to cover potential loan losses, though lending profits and credit-card spending rose. 


 
Citigroup Profit Drops But Bank Beats Expectations

Citigroup reported a 21% decline in profit to $2.51 billion, or $1.16 per share, and revenue of $18 billion - topping the $1.14 per share profit and $17.96 billion in revenue that Wall Street had forecast. 


 
Wells Fargo Sees More of Its Scandals Concluding

Wells Fargo has been setting aside hefty sums to deal with issues. That's a sign that more of its headaches are on the verge of ending, the bank says. 


 
Banks Face Uphill Battle Even as Rates Rise

After posting a strong quarter, lenders face uncertainty about the path of rates, the behavior of deposits and the economy. 


 
BlackRock Profit Falls 23%

The money-management firm's assets under management increased to $8.6 trillion after three quarters of declines. 


 
FTX Customer Accounts Rise in Value After $5 Billion in Assets Found

Prices offered for FTX accounts stuck in bankruptcy increased this week but the bids still represent a fraction of accounts' listed value. 


 
BlackRock Buys Stake in Small-Business 401(k) Startup

By taking a minority stake in an online 401(k) provider, the company seeks access to an underserved corner of retirement investing.


(END) Dow Jones Newswires

01-16-23 0015ET