News Highlights: Top Financial Services News of the Day

12/30/2020 | 12:17am
Jack Ma
Fed, Treasury Provide One-Week Reprieve for 'Main Street' Program 

The cutoff date for the Main Street Lending Program will be extended from Dec. 31 to Jan. 8 following a surge in demand.

China Eyes Shrinking Jack Ma's Business Empire 

Beijing could potentially take a larger stake in Mr. Ma's businesses, as regulators zero in on the billionaire in a campaign to strengthen oversight of an increasingly influential tech sphere.

'There Was a Piece Missing-We Were All White': One Bank Targets Racial Inequity 

Companies across the U.S. are pledging to hire and promote more women and people of color, in many cases saying they want to make their workplaces reflect their customers. Boston-based Eastern Bank has made sustained efforts yet still says "we have a long way to go."

Green Energy Will Need More Storage Space 

Governments around the world have greatly raised their decarbonization ambitions and it will be necessary to store excess electricity for use in lean times.

How the 2020 QE Boom Might Trip Up Central Bankers 

Conventional central-bank accounting makes bond buying look riskier if interest rates rise, but the circumstances in which it poses a threat may be relatively limited.

Bitcoin Looks to Gain Traction in Payments 

High fees and volatility present obstacles to the soaring digital currency becoming a payments staple, but PayPal's decision to allow customers to buy and sell bitcoin could be a step toward the mainstream.

Covid-19 Deals Different Hands for Family Finances 

The Mallons have bought a second home. Melina Rodriguez's work dried up, but she still had the wherewithal to start a new business. Maria Patton lost her job and now lives out of a car with her son.

Financial Services Roundup: Market Talk 

The latest Market Talks covering Financial Services.

Treasury Warns Banks of Covid-19 Vaccine Fraud 

The department's enforcement unit alerted financial institutions to possible ransomware attacks targeting vaccine distribution networks.

China Tells Ant Group to Refocus on Its Payments Business 

Chinese financial regulators moved to rein in Ant Group, the financial-technology giant controlled by billionaire Jack Ma, telling it to switch its focus back to its mainstay payments business and rectify problems in faster-growing areas.

(END) Dow Jones Newswires

12-30-20 0015ET

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