News Highlights: Top Financial Services News of the Day

09/15/2021 | 12:16am
Stephen Scherr
Goldman Sachs CFO Stephen Scherr to Retire 

Denis Coleman, a leveraged-finance banker who has spent 25 years at the Wall Street firm, will succeed Stephen Scherr, who will leave at the end of the year.

JPMorgan Chases the Online Investing Boom With Senior Hires 

The bank is adding two executives to reinvigorate its online investing platforms, which lagged behind rivals during the pandemic trading boom.

Hartford Increases Boy Scouts Insurance Settlement to $787 Million 

Hartford Financial Services Group struck a revised deal with the Boy Scouts of America that increases compensation the insurer will provide victims of childhood sexual abuse, an agreement that could help the youth group ultimately emerge from bankruptcy.

Pimco Sets Its Sights on Commercial Real Estate 

As the Covid-19 pandemic reduces property values, the bond investor pursues higher yields by acquiring hotels and office buildings.

DeFi Is Crypto's Wall Street, Without a Safety Net 

Decentralized finance allows crypto enthusiasts a do-it-yourself version of investment banking, bringing high rewards and huge risks.

The SPAC Bubble Is Burst. It May Be Time to Invest. 

While the SPAC boom has fizzled, blank-check vehicles are now trading at deep enough discounts for even skeptical investors to consider arbitrage trades.

Stock Buybacks Beat Capital Spending for Many Big Companies 

Some finance chiefs say they have plenty of money to invest in their businesses, but shortages in the equipment and people needed for new projects are limiting how much they can take on, leaving excess cash for buying back stock.

Apple, Google Could Win From App Store Loss 

User friction, developer marketing needs could offset loss of payment exclusivity.

Steven Cohen to Invest in New Crypto Quant Trading Firm 

The hedge-fund manager and owner of the New York Mets agreed to make an initial investment in Radkl, which will be led by partners of high-speed trading firm GTS.

Estate Taxes Are Easy to Avoid. House Democrats Want to Change That. 

Fewer than 2,000 filers paid the estate tax in 2020. Democrats are proposing changes that would likely increase that number.

(END) Dow Jones Newswires

09-15-21 0015ET

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