News Highlights: Top Financial Services News of the Day

10/30/2020 | 06:16am
Ant IPO Sets Off $3 Trillion Scramble Among Small Investors 

More than 5 million individual investors lined up for the Shanghai segment of financial-technology giant Ant's IPO, placing orders that exceeded the shares reserved for small investors more than 870 times.

Swiss Re Swings to Loss 

Swiss Re reported a loss for the first nine months of the year as coronavirus-related reserves and claims weighed on its earnings.

ECB Signals Further Stimulus Ahead 

The European Central Bank intends to scale up its support of the eurozone's economy in December, seeking to cushion the region from fallout of a new wave of coronavirus infections that threatens the currency area anew.

New York Banks Need to Brace for Climate Change, Regulator Says 

A New York state regulator set expectations for banks and other financial companies to prepare for risks arising from climate change, and the transition away from fossil fuels.

Fannie Mae, Freddie Mac Third-Quarter Earnings Rise on Mortgage Refinance Boom 

The government-controlled mortgage giants reported improved earnings in the third quarter, as record-low interest rates fueled a refinancing boom that buoyed the companies' results.

Leon Black Offers More Details on Ties to Jeffrey Epstein 

Leon Black, the billionaire chief executive of Apollo Global Management, offered his most detailed public account yet of his ties to the late financier Jeffrey Epstein, a relationship that sparked renewed concern recently among his firm's shareholders and fund investors.

Carlyle Earnings Climb on Strong Growth in U.S., Asia 

Carlyle Group's third-quarter earnings jumped as the value of investments in some of the firm's U.S. and Asia buyout funds posted strong appreciation.

Credit Suisse Targets Share Buybacks Despite Earnings Miss 

Swiss lender Credit Suisse Group said it would restart buying back shares next year as its capital base strengthened despite lower-than-expected third-quarter earnings.

T. Rowe Price Stock Sinks on Third-Quarter Outflows 

Shares of T. Rowe Price Group sank Thursday after the company reported outflows of $5.3 billion for the third quarter.

Small Stocks Topped Large-Caps in October on Hopes for Stimulus 

Small stocks are outpacing larger companies by the greatest amount in years so far this month, underscoring investors' bets on Democrats gaining control in Washington and ramping up spending.

(END) Dow Jones Newswires

10-30-20 0715ET

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