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DJ News Highlights: Top Financial Services News of the Day

· 02/04/2021 16:00
GameStop Highlights Buyback Risk. Take Bed Bath & Beyond.Deutsche Bank Posts Profit as Investment Banking BoomsGameStop Mania Drives Scrutiny of Payments to Online BrokersBond Market Volatility Boosts Online Trading PlatformsCarlyle Group Turns Profit as Market Lifts Its InvestmentsYellen Says 'We Need to Act Big' on Covid ReliefPayPal Should Have More Growth In-StoreU.S. Bank Hires Wealth Executive From JPMorgan ChaseGPB Capital Faces Claims Over 'Ponzi-Like Scheme' Involving $1.7 BillionCredit Suisse Was Alerted to Banker's Misconduct Years Before Charges

The Swiss bank overlooked red flags for years while a rogue private banker stole from billionaire clients, according to a report by a law firm for Switzerland's financial regulator.

GPB Capital faces a Martin Act complaint in New York and civil fraud claims from the Securities and Exchange Commission.

Scott Ford will serve as president of U.S. Bank's wealth management division for affluent clients. Previously, he was a regional director of wealth management for New York at JPMorgan Chase.

After a huge 2020 for digital spending PayPal has momentum in a new realm, in-store payments.

Treasury Secretary says President Biden wants to advance a new coronavirus relief package with bipartisan support but that the administration must act forcefully with a deal that supports families and businesses.

The private-equity firm reported a December-quarter profit of $518.8 million, up from a loss of $8.3 million in the fourth quarter of 2019.

Average daily trading volume on Tradeweb's online bond trading platform topped $1 trillion in January. Other firms are also seeing a surge in trading.

The Reddit-fueled frenzy in stocks such is prompting calls for regulators to reconsider a decades-old practice in the U.S. stock market: payment for order flow.

The results come at a key time for the lender after it promised investors it would remake itself following years of disappointing results and legal troubles.

Most companies caught in the Reddit-fueled rally don't mind the extra bump in their share prices. For others, it is a shot in the arm that hurts.

(END) Dow Jones Newswires

February 04, 2021 16:00 ET (21:00 GMT)

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