News Highlights: Top Financial Services News of the Day

07/02/2020 | 11:16am
Lemonade Is Priced for Sweet Outlook 

The insurance-tech darling is set to begin trading on Thursday in an initial public offering.

Companies Find a Lot to Like About Virtual IPOs 

Bankers and stock-market operators say IPOs roadshows done remotely could persist even as lockdown orders lift.

Hong Kong Market Accentuates the Positive After New Security Law 

Investors have overcome initial discomfort at China's tightening grip on the city, focusing instead on how the law could curb unrest and encourage an influx of mainland money.

Financial Services Roundup: Market Talk 

The latest Market Talks covering Financial Services

SoftBank Seeks to End Partnership With Wirecard 

SoftBank is looking to distance itself from Wirecard, after the Japanese tech conglomerate helped arrange an investment months before the German payments company went bust.

Hedge Fund Star John Paulson Calls It Quits 

John Paulson made billions of dollars anticipating the 2008 financial collapse. But after running into difficulties in recent years, Mr. Paulson will now convert his hedge fund firm into a private investment firm.

Kennet Partners Hauls in $250 Million for Latest Fund 

Kennet Partners, a growth-equity investor in European technology businesses, has wrapped up raising its fifth fund, which includes a significant commitment from British Patient Capital, a firm executive said.

Wall Street Knows It's Too White. Fixing It Will Be Hard. 

Large financial firms have spent a decade talking up diversity, but have little to show for it. Internal practices and client biases make it hard for Black employees to get in the door or obtain big client accounts.

Wirecard Administrators to Sell Assets as Investigators Search Offices 

Bankruptcy administrators for Wirecard, the scandal-hit German payments company, have begun the process of selling some of its businesses as they try to stabilize its operations and raise money to pay off its heavy debt burden.

Serial Acquirer Mercer Buys 2 More RIAs 

The acquisitions of Argosy in Los Angeles and ClearRock Capital in Sun Valley, Idaho, bring Mercer's client assets close to $20 billion, Barron's reports.


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