According to people familiar with the transaction, investor Bill Hwang caused a storm in the stock market last week when his firm, Archegos Capital Management, and its banks began reducing their holdings in blue-chip companies, according to people familiar with the transaction. The sale has sent shifts to individual stocks …
Read More »
Following the sudden ouster of the central-bank governor last week, Turkey’s currency fell nearly 8% on Monday, setting the course for its biggest single-day selloff since 2018. According to Factset, the lira touched a low of 2 8,280 compared to 2 7,219. Turkish stock also sank. The uproar erupted after …
Read More »
The Justice Department is investigating whether he has a visa Inc. V. -4.77% According to people familiar with the matter, the debit-card market is involved in anti-competitive practices. People say the department’s antitrust department collects information and asks if the largest network of US cards, Visa, which is always less …
Read More »
WASHINGTON – The Federal Reserve said Friday it would allow ultrasef assets such as Treasury Securities to recreate large bank accounts for up to a year at the end of the month, hurting Wall Street companies that pushed for expansion. Relief. The decision means that banks will temporarily lose the …
Read More »
The country’s three largest banks are urging shareholders to reject racial-equity resolutions after showing solidarity with the Black Lives Matter movement last year. Citigroup Inc. C. + 0.37%, Wells Fargo & Co. WFC, + 1.25% And Bank of America Corp. BAC, + 0.82% It was one of several large U.S. …
Read More »