Wednesday , July 8 2020

Tag Archives: financial services

First Black Fed President Warns of Systemic Racism's Economic Toll

Raphael Bostic, the Federal Reserve Bank of Atlanta’s president, is shining a light on how economic and social upheaval have changed how the central bank talks and thinks about racial and economic inequality. Mr. Bostic, an economist whose work has focused on racial disparities in access to capital, has helped …

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Coronavirus Is No Cure for Health-Care Stocks

Investors are struggling to predict where the stock market is headed next. Even so, many are already betting that health-care shares won’t lead the way. The sector offered shelter⁠ for investors—followed by an outsize rebound—during the market turbulence earlier this year. With several companies scrambling to create the first effective …

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Bond Markets Show a Japanese Future for U.S. Banks

Bonds in the U.S. and much of the rest of the developed world suggest the future of interest rates is Japanese. Banking profits and monetary policy options for the U.S. are likely to follow in time. The gap between yields on long-dated government bonds in the rest of the developed …

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Oil Crash Crushes Individual Investors, Prompts Trading Overhaul

For decades, regular people didn’t trade commodities. But electronic trading and new investment products prompted amateur investors to start buying and selling oil. When prices crashed in April, that foray turned into a disaster, spreading billions of dollars in losses to ordinary people. Many of them then missed out as …

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New Ways to Use '529' Plans This School Year

For many years, “529” education-savings plans have been a tax-advantaged vehicle for parents and grandparents to accumulate funds for a child’s college costs. A new law, enacted at the end of last year, has made these plans even more advantageous. The Secure Act—which stands for Setting Every Community Up for …

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Wirecard Executive's Entry Into Philippines Might Have Been Faked

Philippine authorities searching for Jan Marsalek, the former Wirecard AG executive who ran operations for the German fintech company before it went bust, say they believe immigration documents showing he entered the country last month may have been forged. Records appeared to show Mr. Marsalek arrived in the Philippines on …

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Commerzbank's CEO and Chairman to Resign Amid Pressure From Activist Cerberus

Germany’s second-largest lender Commerzbank AG said Friday that its chief executive and chairman have submitted their resignations, as the bank faces pressure from shareholder Cerberus Capital Management for a deep overhaul due to persistent poor performance. “Even if we made strategic progress, the financial performance of the bank has been …

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How Wirecard Went From Tech Star to Bankrupt

Markus Braun built Wirecard AG from an obscure firm based in a small town outside of Munich into a global electronic-payments giant. From its perch at the crossroads of online commerce, Wirecard extracted fees for processing credit-card transactions on behalf of businesses. It pushed into emerging markets, bought up smaller …

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Lemonade Is Priced for Sweet Outlook

Investors currently have a lot of lemons in their insurance portfolios. Now they can finally have Lemonade. The insurance-tech darling is set to begin trading on Thursday in an initial public offering. The upstart uses artificial intelligence and other tools to rapidly underwrite and pay claims via its popular smartphone …

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Fed Debated Options to Provide More Economic Support

Federal Reserve officials last month reviewed how to design more support for an economy reeling from the coronavirus pandemic after they had earlier cut interest rates to zero and sharply expanded their asset portfolio. The central bank on Wednesday released minutes of its June 9-10 meeting, at which officials signaled …

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Harvey Weinstein's Victims Entitled to Compensation From $19 Million Fund

Women who have accused Harvey Weinstein of sexual assault or say they were harassed while working at his former film studio will be entitled to payments from a nearly $19 million fund being created to compensate them, months after the former Hollywood producer was convicted of sex crimes. Money for …

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Weak Demand for Ventas, Healthpeak Senior Housing Bodes Poorly for the Industry

The reopening of admissions at senior housing communities owned by companies like Ventas Inc. and Healthpeak Properties Inc. is slowing but failing to end the downward slide in occupancy rates, the latest sign that the hard-hit industry faces a long slog to recovery. Hundreds of senior housing communities halted admissions …

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Covid-19 Drug Remdesivir to Cost $3,120 for Typical Patient on Private Insurance

Gilead Sciences Inc. detailed its pricing plans for Covid-19 drug remdesivir, saying it will charge U.S. hospitals $3,120 for a typical patient with commercial insurance. The drugmaker on Monday disclosed its pricing plans as it prepares to begin charging for the drug in July. The U.S. has been distributing remdesivir …

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Blackstone Sees Film-Production Facilities as a Hot New Real-Estate Play

Real-estate investors at Blackstone Group Inc. are getting into show business. They are doing it not by making movies or TV shows themselves, but by acquiring stakes in the production facilities and other real estate where companies like Netflix Inc. and the Walt Disney Co. are creating content. Blackstone on …

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