News Highlights: Top Financial Services News of the Day
|07/03/2020 | 12:16am|
Credit Suisse Funds Under Review Financed Nissan, Kellogg-and a Mogadishu Hotel Owner
Credit Suisse funds run with Greensill Capital have financed established companies, but a roster of lesser-known businesses inject risk into the portfolio, including several firms that got more in financing than they generated in revenue.
How Wirecard Went From Tech Star to Bankrupt
German prosecutors are probing whether the electronic-payments giant used fictitious revenue to inflate its sales and fool investors. The company and its auditors say $2 billion that is missing probably never existed.
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 remote IPO processes could persist even as lockdown orders lift.
Economic Recovery Fuels Bets on Lower Volatility
The Cboe Volatility Index has fallen this week as U.S. stocks staged a rebound amid optimism about an economic bounce and the Federal Reserve's stimulus.
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.