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SPAC to Nasdaq: deal hands auto tycoon $39B overnight
NEWS INDUSTRY NEWS AUG 16, 2023
SPAC to Nasdaq: deal hands auto tycoon $39B overnight

But could vulnerability to market swings wipe out fortune just as fast?

UBS to pay $1.4B to settle mortgage-backed securities case
NEWS INDUSTRY NEWS AUG 15, 2023
UBS to pay $1.4B to settle mortgage-backed securities case

The case is one of the firm's longest-running legal issues, dating back to 2006 and 2007.

US futures track lower as global stocks weaken
NEWS INDUSTRY NEWS AUG 15, 2023
US futures track lower as global stocks weaken

Inflation concerns and China growth are main concerns.

Big tech in focus for hedge funds in Q2
NEWS INDUSTRY NEWS AUG 15, 2023
Big tech in focus for hedge funds in Q2

Meta, Microsoft, and Apple were among the top picks for funds.

EMs under pressure give money managers a jolt
NEWS INDUSTRY NEWS AUG 15, 2023
EMs under pressure give money managers a jolt

Emerging markets are heading for their worst month since February.

UBS reaches $1.44B settlement in DOJ mortgage-bond case
NEWS WIREHOUSES AUG 14, 2023
UBS reaches $1.44B settlement in DOJ mortgage-bond case

The case, which dates back to 2006 and 2007, relates to the issuance, underwriting and sale of the securities.

Financial firms hate the term 'ESG' but are sticking with the strategy
INVESTING ESG AUG 14, 2023
Financial firms hate the term 'ESG' but are sticking with the strategy

About two-thirds of respondents to a Bloomberg survey say they'll stop using ESG in conversations with clients but continue to incorporate it in their business.

Schwab says TD Ameritrade deal causing retail, advisory attrition
NEWS INDUSTRY NEWS AUG 14, 2023
Schwab says TD Ameritrade deal causing retail, advisory attrition

Finance chief Crawford says company has stepped back from some custodial relations Ameritrade offered institutional clients.

Stocks and bonds gain as China acts on debt
NEWS INDUSTRY NEWS AUG 14, 2023
Stocks and bonds gain as China acts on debt

Also in focus this week, the latest Fed FOMC minutes.

Former CEO of failed crypto exchange FTX in custody
NEWS INDUSTRY NEWS AUG 14, 2023
Former CEO of failed crypto exchange FTX in custody

Sam Bankman-Fried's bail was revoked for alleged witness tampering.