News Highlights : Top Financial Services News of the Day

05/23/2022 | 12:16am
Saudi Sovereign-Wealth Fund Buys Stake in Royal's Investment Firm 

The purchase further intertwines the government with billionaire Prince al-Waleed bin Talal, a high-profile investor who was once detained by the state over corruption allegations.

Former BitMEX CEO Sentenced to House Arrest on Anti-Money-Laundering Charges 

Arthur Hayes, a co-founder and former chief executive of cryptocurrency derivatives exchange BitMEX, has been sentenced to serve six months of house arrest for violating U.S. law by failing to establish a compliant anti-money-laundering program.

Wells Fargo to Pay $7 Million Over Alleged Anti-Money-Laundering Glitches 

A Wells Fargo unit has agreed to pay $7 million in a settlement with the SEC after alleged glitches in a new anti-money-laundering system let suspicious transactions escape initial notice.

Russia Pays Bond Coupons Ahead of Likely U.S. Payment Block 

Move comes ahead of a likely change in U.S. sanctions next week that is expected to curtail Moscow's ability to keep paying its sovereign debt

SEC Probe Looms Over Auditors' Fastest-Growing Businesses 

A conflict-of-interest investigation of accounting industry practices includes nonaudit services, such as those involving an electric-vehicle startup.

How to Face Up to Buying the Dips 

Buying stocks as they drop is harder than it sounds. Here's one strategy that might help keep you on course in turbulent times.

Analysis: ECB Rate Rise in July Looks a Done Deal 

The accounts of the European Central Bank's April meeting left the prospect of a first deposit-rate rise in July all but certain, and market expectations for a faster pace of monetary tightening are growing.

For U.S. Inflation, China's Slowdown Is a Double-Edged Sword 

China's manufacturing juggernaut is being punished by lockdowns in Shanghai and elsewhere. The impact on prices will spread.

Recession Trade Is On as Market Pain Spreads Beyond Tech 

The monthslong selloff in the stock market has accelerated lately, with the pain spreading to even consumer-staples companies that had been relatively shielded from the turmoil.

Surging Dollar Raises Possibility of Euro Parity 

The euro's slide against the dollar is breathing new life into a two-decade old question: Will this be the year the currencies reach parity?

(END) Dow Jones Newswires

05-23-22 0015ET

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