Since the Australian market bottomed on March 23, installment-payment company Afterpay’s stock has risen more than ninefold, while 1.6 million new U.S. users started spending through its technology over the past four months.
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.
Bulgaria and Croatia took a big step toward adopting the euro currency, potentially becoming the newest members to the bloc after years of economic crises and shocks.
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.
Lenders face a rough second half as governments unwind the programs that cushioned the initial blow of the coronavirus crisis.
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.
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.
The tumbling real yield on U.S. government bonds has helped drive gold prices higher—and there is little reason to expect yields to rebound in the near future.
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.
The Federal Reserve’s $600 billion lending program for medium-size businesses hasn’t attracted much interest yet, but that is likely to change if the U.S. economy takes a turn for the worse amid rising coronavirus cases, said the official who runs the program.
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.
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.
Allstate said the all-cash deal will help boost its business in the personal property-liability sector.
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.
The Consumer Financial Protection Bureau’s decision to roll back an Obama-era effort to rein in payday lenders was welcomed by banks but denounced by consumer advocates.
Despite European Central Bank President Christine Lagarde’s statement earlier this year that it isn’t the central bank’s job to close yield spreads, that is precisely what it has done.