Financial Services


The Senate banking panel said Friday it would vote on the nomination of two of President Trump’s Fed picks this month, suggesting that Republicans are prepared to advance the controversial candidacy of Judy Shelton.


The financial-tech startup filed an application with regulators this week to create SoFi Bank, a Utah-based bank of which it would be the sole owner. The effort comes nearly three years after SoFi abandoned a similar attempt.


One of India’s biggest state-run banks said it had fallen victim to its third multimillion-dollar fraud in as many years, a stark illustration of the bad debts and weak defenses against misconduct that plague the country’s financial system.


The decision to allow a New York prosecutor to review President Trump’s personal financial records breathes new life into a year-long investigation concerning a payment made by Michael Cohen, the president’s former personal attorney, to a former adult-film star who claimed she had an affair with Mr. Trump.

CFO Journal

Prudential Financial planned for a pandemic as severe as the Spanish flu, modeling for a potential crisis that would be more severe than the initial coronavirus outbreak suggested. This prepared the company for some of the financial shocks, such as the difficulty in preserving capital, but not the ultralow interest rates.


More people are dying from Covid-19 in Brazil than anywhere else in the developing world. Yet foreign investors are putting more money into Brazilian stocks than they are taking out for the first time in months.


Beike Zhaofang, a Chinese online property brokerage backed by SoftBank Group, is planning to raise up to $3 billion in an initial public offering in the coming months, according to people familiar with the matter, in what would be the largest listing of a Chinese company in the U.S. in more than two years.


Since the coronavirus pandemic began, companies looking to bolster their balance sheets have rushed to sell stock in record amounts. The result has been a resurgence in fees to Wall Street banks—a bounceback bankers and investors say could last through the fall.

WSJ News Exclusive

A clutch of global investors is throwing its weight behind a financial-technology upstart that facilitates payments between companies and their suppliers, betting that it is well positioned amid the disruption from the coronavirus pandemic.

Central Banks

Federal Reserve Bank of Atlanta President Raphael Bostic said Wednesday some data suggests the U.S. economy’s recovery from the coronavirus pandemic-induced recession may be stalling as some parts of the country appear to not have handled reopening efforts as well as they could have.

WSJ News Exclusive

The Justice Department is examining whether scandal-plagued German payment company Wirecard played a critical role in an alleged $100 million bank-fraud conspiracy connected to an online marijuana marketplace, according to people familiar with the investigation.

CFO Journal

Grant Thornton had a former manager first audit the finances and then prepare the accounts for Conviviality Retail PLC, a liquor store chain that went into receivership in 2018. The regulator ruled that it resulted in a breach of independence.