BOJ Cuts Economic Growth Forecast, Stands Pat on Monetary Policy
The Bank of Japan lowered its economic growth forecast on Wednesday in a reflection of the coronavirus pandemic, and kept its monetary policy unchanged.
'This Is Not a Normal Recession': Banks Ready for Wave of Coronavirus Defaults
The largest U.S. banks signaled that the worst of the coronavirus recession is yet to come, opting to stow away tens of billions of dollars to prepare for an expected wave of loan losses.
Fed's Brainard Sees Substantial Economic Risks and Slow Recovery
Fed governor Lael Brainard said the broad recovery seen in recent months was due largely to "rapid and sizable fiscal support," such as one-time relief payments and unemployment insurance benefits that are set to expire in the coming weeks.
GPB Capital Denies Massachusetts Fraud Claims
The firm has denied fraud and other claims made by Massachusetts securities regulators in May, saying that the state failed to provide evidence to back its case and that it lacked jurisdiction, among other issues.
China Bohai Bank to Raise $1.74 Billion in Hong Kong IPO
The Tianjin-headquartered bank has sold total of 2.88 billion shares for an issue price of HK$4.80 a share. Shares will start trading on the Hong Kong stock exchange from Thursday.
Oat-Milk Company Draws Investment From Blackstone-Led Group Including Oprah
Swedish oat-milk maker Oatly has sold a $200 million stake to a group led by private-equity giant Blackstone Group that includes Oprah Winfrey, Natalie Portman, former Starbucks chief Howard Schultz and the entertainment company founded by Jay-Z.
Fed's Williams: SOFR Rate System Has Performed Well During Crisis
Federal Reserve Bank of New York President John Williams said that a replacement for the scandal-plagued Libor interest-rate reference regime has fared well amid the stresses seen in the financial system during the coronavirus pandemic.
Bridgewater Loses Claims It Brought Against Ex-Employees
The firm lost an arbitration dispute with two former investment staffers who started their own hedge fund, a rare setback for Bridgewater that could hamper its ability to limit ex-employees' options after they leave.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services.
Hedge Fund Challenges Latam Shareholders to Finance Airline's Bankruptcy
Hedge fund Knighthead Capital Management and other investors challenged a proposed loan to carry Latam Airlines Group through bankruptcy, saying the rescue financing would enrich some of the company's largest shareholders.
