Hong Kong Dollar's Surge Spurs HKMA Intervention

The Hong Kong Monetary Authority intervened to defend the local currency's peg to the U.S. dollar, selling the Hong Kong dollar after it hit the strong end of the trading band against the greenback. 


 
World Bank Sees 5.2% Decline in Global Economy in 2020 From Coronavirus

The global economy is expected to shrink by about 5.2% in 2020 as a result of the coronavirus pandemic, making it one of the four most severe downturns in 150 years, the World Bank said Monday. 


 
Behind HSBC's Rare Foray Into Politics Over Hong Kong

After a century and a half trying to steer a neutral course through the messy geopolitics of east versus west, HSBC has signaled its support for China over the future of Hong Kong. 


 
In the Feud Between Two of U.K.'s Richest Men, Family Members Say They Bugged Uncle

Several members of Britain's billionaire Barclay family admitted to bugging their uncle and cousin, in a court case related to the sale of London's Ritz Hotel that has split the secretive clan. 


 
Relief Spreads to Risky European Bank Bonds

European bank bonds have rallied over the past few weeks, escaping crisis territory thanks to the easing of coronavirus lockdowns and the proposed launch of a European Union-wide recovery fund. 


 
Nasdaq Overtakes NYSE in Coronavirus-Era IPOs

Nasdaq has edged past the NYSE in IPOs this year as the coronavirus pandemic has curtailed activity and reined in celebrations of corporate debuts on the NYSE's historic trading floor. 


 
Wall Street Has No Consensus

Forecasts from analysts about the market and economy are ranging from financial Armageddon to a swift second-half recovery. 


 
Financial Services Roundup: Market Talk

The latest Market Talks covering Financial Services 


 
Fed Debates Whether to Reinforce Low-Rate Pledge With Yield Caps

Federal Reserve officials are studying Australia's program to buy government securities in unlimited quantities to peg some yields at low levels. 


 
People Aren't Visiting Branches. Banks Are Wondering How Many They Still Need.

The pandemic has forced people used to visiting branches to bank on apps and online instead. That shift could speed up plans for closing many branches permanently.