Covering the global business of banking, financing, and deal making
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At a star-studded New York event in late April, LendingClub’s Renaud Laplanche was lauded as a leader in “disruptive innovation.” Within two weeks, he’d be fired as the board dug into the firm’s sales practices.
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Employers and advisers are shaving retirement-plan costs as they face pressure to monitor expenses.
In the world of mergers and acquisitions, 2015 was a year of record-breaking deals. This year is one of broken-deal records. That’s bad news for banks.
One day last month, two big companies announced takeovers that had something in common: Neither Comcast nor AbbVie used a banker. They aren’t alone.
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Regulators are ramping up a new approach in policing the hedge-fund industry, focusing on how fairly managers treat their investors. The tack has emerged in recent investigations into how hedge funds value thinly traded holdings.
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Investors dip into savings to offer high-price home loans to borrowers rejected by banks; bigger risks, bigger returns.
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Energy Transfer Equity’s Kelcy Warren wants to restructure or escape a $33 billion agreement to acquire Williams Cos., but it won’t let go.
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For online lenders, the business model of targeting Ivy League student borrowers is starting to backfire. These customers, coveted for their superlow default rates, are proving more anti-debt than anticipated.
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Lawmakers have a new solution for the high cost of college: Make the wealthiest universities pay for it.
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A metric known as ROIC, or return on invested capital, is all the rage, used by companies such as General Motors to placate activist investors.
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Warburg Pincus is leading an investment round of more than $27 million in Varo Money Inc., a startup that may one day take the rare step of seeking its own bank charter.
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One of China’s biggest lenders is planting its flag in the middle of Manhattan, a symbolic move for a bank with ambitions to challenge Wall Street on its home turf.
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At Bank of America’s annual shareholder meeting Wednesday, a 15-year-old brought up the elephant in the room. What is the bank doing to raise the share price?
Alexis Stenfors’s investment-banking career evaporated when he lied about losses, which ultimately cost Merrill Lynch $456 million. Moving on hasn’t been easy.
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Investment banks are trying to stop an exodus of junior bankers by adjusting their advancement models to better suit the expectations of the millennial generation.
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The focus is shifting to possible gaps in the New York Fed’s efforts to pursue concerns about fraudulent payment orders, after thieves siphoned $101 million out of Bangladesh’s account at the Fed.
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Stock of the chain’s parent company Darden Restaurants is up 48% since a rare shareholder coup 18 months ago when Starboard nominees took control of the board and pushed for changes.
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Bank of America’s Andrea Smith is leading the firm’s stress-test submission to the Federal Reserve, a process the bank has fumbled the past three of five years.
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Insurer’s truncated bid for U.S. hotel chain, now back in Marriott’s sights, shows limits of China’s foreign-acquisition binge.
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Deutsche Bank CEO John Cryan, under pressure from regulators and jittery investors, is trying to slash costs and bolster capital.
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Many pension funds, insurers and university endowments are pulling back from hedge funds, with industry results falling behind the total return of the S&P 500 for seven straight years and the high-fee structure raising eyebrows in several states.
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Banks have shut the accounts of some U.S. charities and have held up money transfers by others, hindering their ability to deliver aid to refugees in Syria and elsewhere.
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Bank documents obtained in a probe of Malaysian government investment fund 1MDB show accounts of Prime Minister Najib paid out $15 million for clothes, jewelry and a car.
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Newly released documents reveal several referrals from the Financial Crisis Inquiry Commission to the Justice Department for prosecution. None resulted in individual prosecutions, but they touched some of the biggest names in finance: Citigroup, Merrill Lynch and AIG.
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Who was the source of a crisis-era bombshell on CNBC that helped sink Bear Stearns? The role of a well-known hedge-fund manager has come to light with the release of documents earlier this month.
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The largest U.S. banks paid fines totaling about $110 billion for their role in inflating a mortgage bubble that helped cause the financial crisis. Who got that money? A Journal analysis.
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Former Lehman Brothers CFO Erin Montella’s new memoir offers a unique perspective of the events that led to the financial crisis.
Chart available at Market Data Center
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Mr. Pandit’s new company with a Comcast-backed investment firm will seek stakes in more mature financial-services companies.
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A Bank of America executive accused her employer of misleading trading clients, in a lawsuit in which she called the bank a “bros club” and said it discriminated against her for being a woman.
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Warren Buffett’s Berkshire Hathaway took a new $1 billion position in Apple in the first quarter, an uncharacteristic bet for the firm that was made by the two former hedge-fund managers brought on board as potential successors.
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Credit Suisse plans as early as this week to launch unusual new bonds that would pay investors relatively high interest rates. The catch is the bank could take their principal if incidents lead to massive losses.
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U.S. officials are pushing for a centralized data feed to track trading in government bonds as they move to boost oversight of the $13 trillion Treasury market.
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J.P. Morgan Chase shareholders voted overwhelmingly in favor of the bank’s size and strategy Tuesday, tackling an increasingly common question among analysts and investors of big banks.
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J.P. Morgan Chase & Co. has limited some employees’ access to the Swift global interbank messaging service amid questions about security breaches at a pair of Asian banks that used the funds-transfer platform, people familiar with the matter said.
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U.S. Stocks Drop After Stronger Data Scrambles Rate Math
U.S. stocks fell sharply on Tuesday, continuing the pattern in the market where a good day is followed by a bad day.
The Cheese Glut, and What We're Doing About It - Podcast
On today's MoneyBeat podcast, WSJ reporters Kelsey Gee and Julie Wernau joined us to talk about the "glut" of cheese - an oversupply totaling 1.19 billion pounds' worth of it.
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LendingClub’s business model is breaking down as it admits it may need to start holding loans on its balance sheet.
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