DJ News Highlights: Top Financial Services News of the Day
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France largest bank BNP Paribas reported a drop in quarterly profit, hurt by record low interest rates and the fallout of the pandemic, but said it expected revenue to bounce back this year as the global economy gradually recovers.
The Treasury Department, SEC and other regulators discussed market functionality and recent trading practices in equity, commodity and related markets.
The Reserve Bank of India kept its lending rate unchanged, while saying that the outlook for growth has improved significantly.
Blank-check company KKR Acquisition Holdings I Corp., sponsored by KKR & Co., in partnership with Glenn Murphy, filed for an initial public offering with the U.S. Securities and Exchange Commission.
The U.S.'s largest life insurer by assets was stung by low interest rates and the economic fallout from the pandemic.
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.
Austria's Raiffeisen Bank said its net profit fell to EUR804 million last year as rate cuts, lockdown measures and weaker currencies in Central and Eastern Europe hit revenue.
The White House said it was open to forgiving debt without a move by Congress after Senate Majority Leader Chuck Schumer urged President Biden to use his executive powers to eliminate $50,000 in student loan debt for all borrowers.
GPB Capital faces a Martin Act complaint in New York and civil fraud claims from the Securities and Exchange Commission.
(END) Dow Jones Newswires
February 05, 2021 07:00 ET (12:00 GMT)
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