Revolut Secures French Banking License to Expand European Operations
Europe's most valuable startup is pushing to expand its banking products and services and is seeking regulatory approvals to enter new markets elsewhere.
----
Indonesia Names Destry Damayanti as Sole Candidate to Lead Central Bank
Indonesian President Prabowo Subianto has nominated acting Bank Indonesia Gov. Destry Damayanti as the sole candidate to lead the central bank.
----
U.S. Regulator Rejects Dutch Fintech Bunq's Banking License Application
They cited supervisory and compliance concerns, adding that Bunq's application didn't clearly explain how the company would have sufficient capital in the U.S.
----
Private Credit Is Under Growing Strain, Despite Industry's Upbeat Tone
Default rates are hitting recent highs, and internal reviews of loan health point to tougher times ahead, a WSJ analysis shows.
----
Private-Equity Firms Eager for Exits Pounce on Hot IPO Market
More firms are taking companies public, as sluggish dealmaking has made it hard to find buyers.
----
Monte dei Paschi Weighs Options to Fend Off Intesa Bid
The Italian bank said it is weighing options to preserve its integrity, as its chief executive questioned the impact of Intesa Sanpaolo's $35 billion takeover bid.
----
Allianz Posts Lower Net Profit Amid Portfolio Reshuffle
Europe's largest insurer by market capitalization booked an 11% rise in group operating profit, reaching a new record as it turns to dealmaking to reshape its portfolio.
----
Munich Re Cuts Revenue Outlook After Volume Drop in July Contract Renewals
Both volumes and prices fell at last month's round of reinsurance-contract renewals, but the German reinsurer reiterated its full-year net profit guidance.
----
How a Few Hot Stocks Can Make 'Twin' Funds Act Like Strangers
Index funds that seem to invest the same way are performing very differently this year.
----
Financial Services Roundup: Market Talk
Find insight on Brava Energy, Prio, Munich Re and more in the latest Market Talks covering financial services.
----
Ratings Firm Accused of Grade Inflation Vouched for $40 Billion of Insurer Debt
Egan-Jones says it stands by the integrity and rigor of its ratings, which have been banned by a key regulator and are the focus of a lawsuit brought by former employees.
----
Hedge Fund Turning Up Pressure on Voya Financial to Sell Itself
Toms Capital Investment Management is bringing its push for the asset manager to explore a sale directly to shareholders.
----
Commerzbank CEO Calls For Dialogue With UniCredit
Bettina Orlopp appealed for constructive dialogue with UniCredit after the Italian bank achieved a near majority stake in its German rival.
----
Crypto Trader Wintermute Steps Onto Regulated Wall Street With Broker License
One of many digital currency firms pushing into traditional finance services, Wintermute aims to take on Jane Street, Citadel and other big market makers.
----
BlackRock BDC Moves $523 Million in Loans to Pantheon-Backed Fund
The deal involves nearly half of BlackRock TCP Capital's debt investments and the lender is studying even more drastic moves
----
Prosecutors Probed Whistleblower Claims That JPMorgan Mishandled Fraud Cases
A former executive alleged JPMorgan improperly denied reimbursements of more than $100 million to customers who were victims of financial scams.