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UBS loses US activism defense staff to BofA, Wells Fargo
NEWS INDUSTRY NEWS AUG 23, 2024
UBS loses US activism defense staff to BofA, Wells Fargo

Sources report several team members have jumped ship.

B. Riley-backed Franchise Group gets slight reprieve from lenders
NEWS INDUSTRY NEWS AUG 22, 2024
B. Riley-backed Franchise Group gets slight reprieve from lenders

A group of first-lien debt holders have made some concessions as the troubled firm tries to dig out of its $1.5B debt hole.

Stocks stall as traders parse jobless claims, Fed policymakers' comments
INVESTING EQUITIES AUG 22, 2024
Stocks stall as traders parse jobless claims, Fed policymakers' comments

Market analysts continue to whet their appetites before the much-anticipated Jackson Hole speech.

TD sets aside $2.6B for money laundering fines, sells Schwab shares
NEWS INDUSTRY NEWS AUG 22, 2024
TD sets aside $2.6B for money laundering fines, sells Schwab shares

Canadian big six bank is expecting matter to be settled by year-end.

Media investor raises Paramount Global bid to $6B
NEWS INDUSTRY NEWS AUG 22, 2024
Media investor raises Paramount Global bid to $6B

It could upset the planned merger with Skydance Media.

Euro-zone data suggests ECB could cut rates again
NEWS INDUSTRY NEWS AUG 22, 2024
Euro-zone data suggests ECB could cut rates again

European economies' outlook has weakened.

Largest crypto platform compliance costs top $200M
NEWS INDUSTRY NEWS AUG 22, 2024
Largest crypto platform compliance costs top $200M

The firm is hiring 1,000 people this year including compliance staff.

Western Asset's co-CIO Leech takes leave of absence amid SEC probe
INVESTING FIXED INCOME AUG 21, 2024
Western Asset's co-CIO Leech takes leave of absence amid SEC probe

The fixed-income star at the Franklin Templeton-owned firm is facing scrutiny over some past trades in Treasury derivatives.

Stocks approach all-time highs as Fed minutes lift rate cut hopes
INVESTING EQUITIES AUG 21, 2024
Stocks approach all-time highs as Fed minutes lift rate cut hopes

Notes from the central bank's July meeting and an expected revision in jobs growth are keeping traders busy ahead of this week's Jackson Hole speech.

How B. Riley went from underdog investment firm to embattled empire
NEWS INDUSTRY NEWS AUG 21, 2024
How B. Riley went from underdog investment firm to embattled empire

The company's investment in a disgraced hedge fund has put Bryant Riley's multibillion dollar "labor of love" at risk of crashing down.