News Highlights: Top Financial Services News of the Day

02/01/18 04:15 PM EST
Mastercard Revenue Rises But Tax Law Dents Earnings 

Mastercard beat revenue expectations in its latest quarter, but its profit took a hit as it implemented U.S. tax law changes.

Blackstone, Apollo Results Improve 

Private-equity firms Blackstone Group and Apollo Global Management reported improved quarterly results and offered a window into how private-equity firms are digesting the new tax law.

Alibaba Snags Ant Stake in Possible Prelude to Public Offering 

Alibaba said it will acquire a 33% stake in its financial services affiliate Ant Financial Services Group, in a move that could signal that Ant is being readied for a public offering.

Apollo's Assets Under Management, Revenue Rise 

Apollo Global Management reported rising assets under management and advisory fee growth in its latest quarter as the firm readies to invest its largest fund to date.

Bitcoin Brawl: A New Twist In Tezos's $232 Million Coin Offering 

Some investors in Tezos, a stalled, high-profile initial coin offering, are turning to the equivalent of an old activist trick-proposing a new board of directors-to get the new-age technology project back on track.

Tesla Raises $546 Million in Its First Asset-Backed Securities Deal 

Tesla Inc. sold $546 million of bonds backed by lease payments on Model X and Model S vehicles on Thursday, continuing its wide-ranging search for cash as it tries its ramp up production of its first mass-market car.

Charity Funds Take Off as Tax Law Reshapes Giving 

U.S. taxpayers late last year flooded into charitable-giving vehicles known as donor-advised funds that distribute to nonprofits over time, a sign that the new tax law could reshape how Americans give away money for years to come.

U.S. Regulator Floats New Way of Measuring Global Swaps Market 

CFTC Chairman J. Christopher Giancarlo wants to change the way it measures the size of the global swaps market, following years of criticism that the current metric is meaningless and not illuminating.

High-Interest Lenders Benefit From Trump's Deregulatory Stance 

The Trump administration's revamp of a powerful consumer-finance regulator is reaping dividends for high-interest lenders and alarming some consumer advocates.

India Plans Crackdown on Cryptocurrency Misuse 

Indian Finance Minister Arun Jaitley signaled the South Asian nation was planning to crack down on the misuse of cryptocurrencies, saying it didn't recognize the digital money as legal tender.


(END) Dow Jones Newswires

February 01, 2018 16:15 ET (21:15 GMT)

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