News Highlights : Top Financial Services News of the Day

05/14/2021 | 12:16am
Coinbase Profit Surges in Exchange's First Report as Public Company 

Its first-quarter top- and bottom-line figures represent records for the company, which was founded in 2012 and is the largest bitcoin exchange in the U.S.

PayPal Plans to Shift Core Applications to Google Cloud 

The migration is part of the digital payments company's ongoing move to host all its applications in the public cloud.

AIA Group's Value of New Business Rises 

AIA Group's value of new business rose 19% in the first quarter as the insurer saw growth in its operations as Covid-19 restrictions begin to ease.

Bank of Canada Says Quantitative Easing Can Widen Wealth Inequality 

The Bank of Canada's extraordinary monetary policy during the pandemic is supporting the economic recovery and helping people return to work, but may also be contributing to an uneven distribution of wealth, the central bank's governor said.

Fed's Bullard Upbeat on Recovery, Not Ready for Monetary-Policy Change 

St. Louis Fed leader James Bullard said that he expects the economy to produce inflation notably above the central bank's 2% target for some time and that the job market is probably much stronger than it appears.

Fed's Waller Says Inflation Jump Likely Temporary, Urges Patience 

The Fed governor said officials need to see "several more months of data" before determining when to adjust policy

Avance Eyes Increase of Debut Fund Cap to $1 Billion 

The firm began marketing its debut fund in the midst of the coronavirus pandemic and was advised to set a lower target of $500 million with an initial cap of $850 million, Mark Evans, principal investment officer at the Connecticut Retirement Plans and Trust Funds, said at the pension system's investment advisory council meeting on Wednesday.

Audit Watchdog Proposes Framework to Help Implement New Trading Ban 

The U.S. audit watchdog has proposed a new framework that would help it implement a new law that bans foreign companies from the country's exchanges if their audits haven't been inspected by American regulators.

Stronger Growth and Inflation Pull European Bond Yields Above Zero 

European government bonds sold off sharply in recent days, with yields following U.S. Treasurys higher and German borrowing costs hitting their loftiest levels in two years.

David Cameron's Payday Preceded Greensill Capital's Collapse 

The former U.K. prime minister made several million dollars as an adviser to Greensill. He is now the subject of a government review into his role.

(END) Dow Jones Newswires

05-14-21 0015ET

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