News Highlights: Top Financial Services News of the Day

01/28/2022 | 12:15am
Robinhood's Stock Drops 12% After Loss Is Worse Than Analysts Expected 

Higher technology and administrative costs hurt the brokerage's fourth-quarter results.

Visa stock gains as quarterly revenue tops $7 billion for the first time 

Visa Inc. topped $7 billion in quarterly revenue for the first time, buoyed by a quicker-than-expected resumption in travel spending and sustained growth in categories like e-commerce that had been strong throughout the pandemic.

Citigroup to Sell Taiwan Consumer Banking Business to DBS 

DBS Group Holdings will acquire Citigroup's consumer-banking business in Taiwan in a deal the Singapore lender said will make it Taiwan's largest foreign bank by assets.

SEC Finds Some Private-Fund Managers Mislead Investors on Performance 

The U.S. regulator cited numerous problems uncovered by examiners of private-equity and hedge funds, including the use of inaccurate performance data.

Biden Wants Crypto Rules as National Security Matter 

The order is expected to come in the next few weeks, a person familiar with the plan tells Barron's.

Robinhood Meme-Stock Negligence Suit Is Rejected by Judge 

The ruling comes ahead of the first anniversary of trading restrictions on GameStop and AMC Entertainment shares.

All U.S. Trial Convictions in Crisis-Era Libor Rigging Have Now Been Overturned 

A federal appeals court reversed the convictions of two former Deutsche Bank traders found guilty of rigging the global lending benchmark.

Deutsche Bank Is Betting on a Big Year 

The recovering German lender will need to deliver a step up in performance to meet the targets it has set for the conclusion of its turnaround plan.

GWG Seeks Rescue Financing After Missing Debt Payments to Individual Investors 

The company known for life-insurance bonds faces a cash crunch after accounting issues and the resignation of its auditor prevented it from selling its products.

Behind the Stock Market Turmoil: A High-Speed Investor U-Turn 

The near-certainty of an interest-rate increase is driving an about-face in investor sentiment and strategy.

(END) Dow Jones Newswires

01-28-22 0015ET

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