Why the U.S. Government Has $5 Billion in Bitcoin

Uncle Sam's stash was seized from cybercriminals and darknet markets. What the U.S. does with its bitcoin could cause ripple effects in the digital-asset market. 


 
Australia Proposing Tighter Regulation of Crypto Platforms

The Australian government released a proposal recommending that digital-asset platforms are made subject to existing laws covering other financial-services providers. 


 
Big-Bank Profits May Be Higher, but for How Much Longer?

Despite banks continuing to see benefits of high rates, worries about deposit costs and consumer credit still lurk. 


 
Big Banks Say Trouble Is Coming, but Their Earnings Are Still Strong

Higher interest rates are making lending by the nation's largest banks more profitable, while consumers and the economy remain surprisingly strong. 


 
Wells Fargo's stock gains as third-quarter earnings top estimates by a wide margin

Wells Fargo's third-quarter earnings were boosted by higher interest rates, but mortgage lending fell and deposits shrank. 


 
Citigroup's third-quarter profit edges up and beats lowered expectations

Citigroup's net income remains at about $3.5B as it sells off units and restructures its business to simplify its leadership ranks. 


 
BlackRock Earnings Beat Expectations. The Stock Falls.

The world's largest money manager posted third-quarter earnings per share of $10.91, up from $9.55 a year earlier and better than the $8.34 expected by Wall Street analysts. 


 
PNC's Profit Beats Forecasts Despite Fall in Net Interest Income

Net interest income-a closely watched metric of profit-was $3.42 billion, a 3% drop from the prior year. 


 
Supreme Court to Hear Insurer's Challenge to Kaiser Gypsum Bankruptcy Plan

The U.S. Supreme Court agreed to hear a case in which an insurance company is challenging a bankruptcy reorganization plan that it says doesn't protect it against fraudulent claims tied to asbestos exposure. 


 
Progressive Stock on Pace for All-Time High After Earnings Beat

Earnings per share rise to $1.89 from 20 cents in the same quarter a year earlier. The consensus call on Wall Street was for a profit of $1.72.


(END) Dow Jones Newswires

10-16-23 0015ET