Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  News  >  Economy & Forex

News : Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Shares of Banks and Lenders Rise on Economic Optimism -- Financials Roundup

08/24/2020 | 05:08pm EST

Shares of banks and lenders rose amid hopes for a strong economic rebound.

Many investment firms are waiving their charges on money funds to keep the yields that investors earn from dropping below zero.

Money-management giant BlackRock is waiving costs typically borne by customers for certain money-market funds to prop up investor yields, said people familiar with the matter.

Fidelity Investments, Federated Hermes Inc. and J.P. Morgan Asset Management are also ceding some fees to stave off negative yields. The moves are the latest sign of how a roughly $5 trillion piece of the financial system is bracing for new pressure as interest rates plummet.

Meanwhile, Ant Group, the Chinese financial-technology behemoth controlled by billionaire Jack Ma, is preparing for blockbuster share sales in Hong Kong and Shanghai and is planning to file its listing documents with exchanges in both cities this week, according to people familiar with the matter, kicking off a process that could have the company go public by October. The documents could shed light on what has been a closely guarded secret for years: how it actually makes money.

At beleaguered European banks, coronavirus is fast-tracking plans for fundamental restructuring after years of poor performance. Many of the region's most prominent lenders are tearing up old business models, cutting business lines or doubling down on domestic markets as they try to find a formula that works for them.

 

Write to Amy Pessetto at amy.pessetto@dowjones.com

Stocks mentioned in the article
ChangeLast1st jan.
BLACKROCK, INC. -1.67% 703.47 Delayed Quote.39.94%
FEDERATED HERMES, INC. -0.07% 29.28 Delayed Quote.-10.16%
Latest news "Economy & Forex"
01:42pBritain and EU agree to more talks in final push for Brexit deal
RE
01:35pJEFF BEZOS : Bezos says Blue Origin will take the first woman to moon's surface
RE
01:30pU.S. CDC reports 277,825 deaths from coronavirus
RE
01:20pIrish PM calls for 'every effort' to get EU-UK trade deal
RE
11:53aGOVERNMENT OF GEORGIA : In line with a corruption risk-free index published by Trace International, Georgia has advanced to the 28th place in the global listing, while remaining in the European Top 20
PU
11:19aGerman police break up banned coronavirus demonstration
RE
10:59aItalian police arrest two over hacking at defence group Leonardo
RE
10:45aIndia fails to end deadlock with farmers, talks to resume next week
RE
10:42aChina, U.S. need to proceed together with 'good will' - Chinese envoy
RE
09:49aGIYANI METALS : Approval Received for Scoping and Terms of Reference for K.Hill Environmental Social Impact Assessment
PU
Latest news "Economy & Forex"