HSBC Swings to Fourth Quarter Loss; Announces Share Buyback

HSBC said it would buy back up to $2 billion in shares, coming after impairments pushed its bottom line to a loss in the latest quarter. 


 
National Australia Bank's First-Quarter Profit Fell

The bank said first-quarter revenue grew by 1% when compared with the average of the prior two quarters. 


 
Truist gets better-than-expected price for insurance-brokerage unit as dealmaking heats up

The deal comes at a time when banks are building up their balance sheets ahead of a potential economic downturn and as federal regulators have proposed higher capital requirements. 


 
Barclays Leans Away From Wall Street in Overhaul Plan

The U.K. lender will cap the share of assets devoted to its sprawling investment-banking arm in favor of its home business. 


 
What Consumers Need to Know About the Capital One-Discover Deal

The acquisition, which would give Capital One access to Discover's payments network, aims to create a bigger competitor to Visa and Mastercard. 


 
Justice Department Says Sorrento Therapeutics Lawyers Falsified Bankruptcy Filing

A U.S. trustee says the biopharmaceutical company falsely claimed its principal place of business was a mailbox location in a Houston suburb. 


 
Supreme Court Rejects Lawsuit That Threatened Private-Equity Debt Market

Justices won't hear case alleging banks concealed information about Millennium Health before company went bankrupt. 


 
Barclays Doesn't Want to Be Cool

Few themes have been as unpopular among investors in recent years as European investment banking and the U.K. Barclays wants to double down on both. 


 
New Rules Will Force Buyout Firms to Flag Suspicious Investments

The Treasury Department is extending anti-money-laundering rules to private-equity, venture-capital and hedge funds. 


 
An Executive Bought a Rival's Stock. The SEC Says That's Insider Trading.

Defense lawyers say the case is the first to involve "shadow insider trading."


(END) Dow Jones Newswires

02-21-24 0015ET