News Highlights: Top Financial Services News of the Day
|06/12/2020 | 12:16am|
Bank Stocks Fall After Fed Projects No Rate Increases
Financial stocks dropped a day after Federal Reserve officials indicated they had no plans to raise interest rates over the next two years.
Coronavirus Took Heavier Toll on Emerging Markets
Companies headquartered in developing economies were more likely to have experienced a mainly negative impact from the pandemic, according to a review of hundreds of earnings reports by Dow Jones Newswires.
Investors Get Ready for the Fed to Cap Rates
Investors are preparing for the Federal Reserve to tap a policy tool untouched since the aftermath of World War II, a move that could change how key financial markets behave and give an even bigger boost to the stock market's best performers.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
Fed Officials Project No Rate Increases Through 2022
Federal Reserve officials signaled plans to keep interest rates near zero for years and said they were studying how to provide more support to a U.S. economy battered by the coronavirus and related shutdowns.
FASB Proposes Delaying New Accounting Rule on Insurance Contracts Again
Insurers may get even more time to implement a new rule on valuing long-term contracts, under a proposal by the Financial Accounting Standards Board.
Investing Giants Gave Away Voting Power Ahead of Shareholder Fight
GameStop shareholders vote this week to resolve a fight over the embattled videogame retailer's board. But the company's largest investors won't cast much of a vote.
China's Companies Find Ways to Avoid Bond Blowups
Chinese companies are avoiding or minimizing bond defaults, even as the economy shrinks for the first time in decades. Some methods include asking creditors to wait longer for repayment or forgo the right to redeem bonds early.
Equifax's Latest Breach Settlement Is Skimpy to Plaintiffs, Critics Say
Most of the money would go to security measures at Equifax, not to community banks and credit unions affected by the breach.
Kirkland & Ellis Resigns From Travelport Over Disputed $1 Billion Debt Deal
Kirkland & Ellis has resigned from representing Travelport after arranging a debt deal for the travel-booking site that is said to have angered some of the law firm's Wall Street clients, according to people familiar with the matter.