Goldman to Pay $2.8 Billion, Admit Wrongdoing to Settle 1MDB Charges

Goldman Sachs Group will pay the U.S. government about $2.8 billion and admit wrongdoing in a Malaysian bribery scandal, settling charges stemming from its work with a corrupt government investment fund. 


 
Travelers' Profit Rose in Third Quarter

Property-casualty insurance company Travelers Cos.'s reported an increase in profit and net written premiums for the quarter that ended last month and reported just under $400 million in pretax catastrophe losses. 


 
UBS Profit Doubles on Trading Surge

The Swiss lender said a surge in client trading and deal making is freeing up cash for dividends and share buybacks despite the coronavirus pandemic. 


 
Swedbank Profit Beats Forecast

Swedbank posted a forecast-beating net profit for the third quarter of SEK5.26 billion, as net income commission was boosted by strong stock market conditions. 


 
Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services 


 
RBA Policy Easing Looks Locked-In for November

The Reserve Bank of Australia gave its clearest signal yet that it will cut interest rates further and announce a multibillion-dollar program of government bond-buying in November to help fast-track the economic recovery now emerging in most states. 


 
Ant Nears Giant IPO After Green Light From Hong Kong's Exchange

Hong Kong's stock exchange gave Ant Group approval to proceed with its long-awaited initial public offering in the city, paving the way for what will likely be a record-breaking share sale. 


 
Household Access to Banks Has Improved, FDIC Says

The proportion of U.S. households lacking a checking or savings account fell to 5.4% in 2019 from 6.5% in 2017 but could be driven up again by the coronavirus pandemic. 


 
U.S. Treasury's FinCEN Issues $60 Million Penalty Against Operator of Bitcoin 'Mixers'

The civil penalty against Mr. Harmon, who already faces charges by the U.S. Justice Department, is the first of its kind imposed by the Treasury's Financial Crimes Enforcement Network against a virtual currency "mixer" or "tumbler"-businesses that charge customers a fee to send virtual currencies to a designated address in a manner designed to conceal the source or owner of the currency, according to the agency. 


 
European Banks Await Green Light for Cash Dividend Payments

The chief executives of some of Europe's biggest banks are hoping regulators will soon let them resume cash dividend payments, easing pressure on their flagging share prices.

(END) Dow Jones Newswires

10-20-20 1115ET