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DJ News Highlights: Top Financial Services News of the Day

· 02/05/2021 16:00
India Central Bank Keeps Key Lending Rate UnchangedBNP Paribas Posts Smaller-Than-Expected Drop in ProfitRobinhood Traders: The Taxman Is ComingThe GameStop Dilemma: What to Do if Day Traders Target Your Company Stock'We like the stock!' The Anatomy of a MemeCathie Wood Has Wall Street's Hottest Hand. Maybe Too Hot.SoftBank-Backed Greensill Delays FundraisingRobinhood's Reckoning: Can It Survive the GameStop Bubble?Venmo's Debt-Collection Practices Probed by CFPBGameStop Trader 'Roaring Kitty' May Face Regulatory Scrutiny

Keith Gill, who became one face of the GameStop mania and also worked until last week as a broker, may face legal jeopardy for potential violations of federal rules governing brokers' communications.

The payment app's tactics-including threatening to send debt collectors after customers who are scam victims-have previously come under scrutiny.

The firm that set out to bring investing to the masses has run into the reality of Wall Street, with its tangle of regulations, overseers and byzantine infrastructure.

The supply-chain finance company says it needs money to expand, but it has also faced several client defaults.

ARK Investment's money under management grew more than fivefold from March to the end of last year. But when funds get too big, too fast, they often can't sustain their performance.

Traders on Reddit's WallStreetBets forum have their own language. Their jokes can be just for fun or signals of investing strategies.

GameStop and other companies briefly saw their share prices surge as Reddit-inspired buyers created a short squeeze. For executives, taking advantage of the situation is more complicated than it appears.

If you've been buying or selling GameStop or other hot stocks, here's what you need to know about taxes.

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 Reserve Bank of India kept its lending rate unchanged, while saying that the outlook for growth has improved significantly.

(END) Dow Jones Newswires

February 05, 2021 16:00 ET (21:00 GMT)

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