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News Highlights: Top Financial Services News of the Day

11/25/2020 | 07:16am
Dow's Rise to 30000 Heralds Broader Stock Rally 
 

The index's ascent signals more companies are beginning to participate in the new bull market, offering hope to investors who have long waited for the rally to widen.

 
EU Official Raises Vetting Concerns Over BlackRock Contract 
 

An EU watchdog said the bloc's executive branch failed to properly consider potential conflicts of interest when it chose BlackRock to advise the EU on future banking regulations.

 
Glitches Hit Trading Platforms Run by Bank of America, TD Ameritrade, Vanguard 
 

The popular platforms suffered glitches that rendered them inaccessible or slow to use, frustrating investors on a landmark day for the U.S. stock market.

 
JPMorgan Chase Unit to Pay $250 Million Penalty Over Poor Internal Controls 
 

A top banking regulator fined a JPMorgan Chase unit $250 million over deficiencies in internal controls and internal audit practices.

 
Credit Suisse Takes $450 Million Hit on Stake in U.S. Hedge-Fund Firm 
 

Credit Suisse is taking a near half-billion-dollar charge on a stake in a hedge-fund business it bought during Wall Street's frenzy for alternative investments a decade ago.

 
Federal Reserve Can Restart Emergency Lending If Needed, New York Fed's Williams Says 
 

The Fed is well prepared to navigate the U.S. economy's challenging path to recover from the effects of the coronavirus pandemic and can resume emergency lending if it deems it necessary, Federal Reserve Bank of New York President John Williams said Tuesday.

 
Vaccine Hopes Send Record Funds to Emerging Markets 
 

The amount of money flowing into emerging-market funds last week hit an all-time high, as advances in vaccine development and a weaker dollar boosted investors' risk appetite.

 
Germany's DAX Index Changes Rules After Wirecard Collapse 
 

Germany's leading stock index expanded its size and changed rules to boost the quality of its constituent companies, a move sparked in part by the collapse of payment company Wirecard caused by a multibillion-dollar fraud.

 
Yellen Will Confront a Cooling Economic Recovery, Uncertain Stimulus Prospects 
 

President-elect Joe Biden's pick to be Treasury secretary will play a key role pushing for more aid for an economy battered by the coronavirus pandemic and related shutdowns.

 
Current Joins Mobile-Banking Boom With $131 Million Tiger Global-Led Round 
 

The startup, which offers free mobile-banking accounts, raised $131 million in a Series C funding round led by Tiger Global Management.

(END) Dow Jones Newswires

11-25-20 0715ET

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