Credit Suisse Takes $450 Million Hit on Stake in U.S. Hedge-Fund Firm

Credit Suisse is taking a near half-billion-dollar charge on a stake in a hedge-fund business it bought during Wall Street's frenzy for alternative investments a decade ago. 


 
Vaccine Hopes Send Record Funds to Emerging Markets

The amount of money flowing into emerging-market funds last week hit an all-time high, as advances in vaccine development and a weaker dollar boosted investors' risk appetite. 


 
Germany's DAX Index Changes Rules After Wirecard Collapse

Germany's leading stock index expanded its size and changed rules to boost the quality of its constituent companies, a move sparked in part by the collapse of payment company Wirecard caused by a multibillion-dollar fraud. 


 
Yellen Will Confront a Cooling Economic Recovery, Uncertain Stimulus Prospects

President-elect Joe Biden's pick to be Treasury secretary will play a key role pushing for more aid for an economy battered by the coronavirus pandemic and related shutdowns. 


 
Current Joins Mobile-Banking Boom With $131 Million Tiger Global-Led Round

The startup, which offers free mobile-banking accounts, raised $131 million in a Series C funding round led by Tiger Global Management. 


 
Bank Applications Get a Coronavirus Boost

Consumer lender Oportun Financial filed paperwork to start its own bank in California, joining a wave of firms that have applied for banking licenses this year. 


 
York Capital Management to Largely Wind Down Hedge-Fund Operations

Billionaire hedge-fund manager Jamie Dinan plans to shut down York's European hedge funds and to turn its flagship U.S. hedge fund into one running mainly internal money. 


 
Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services 


 
BlackRock to Buy Equity-Index Provider Aperio for $1 Billion

BlackRock is acquiring Aperio Group LLC, a firm that helps build custom portfolios for wealthy individuals, in a push by the world's largest money manager to add more personalization to its offerings. 


 
Phoenix Mulls Options For European Unit

Life insurer Phoenix said it was assessing a number of options to maximize value for its shareholders, including the potential sale of its European unit.

(END) Dow Jones Newswires

11-24-20 1115ET