Financial news

LendingClub cuts approval rates for high-risk borrowers as coronavirus spreads

LendingClub Corp on Monday cut loan approval rates for some high-risk borrowers and increased income and employment verification requirements, in a sign that alternative lenders could pull back from...

Prophet Capital to dissolve hedge fund amid 'extreme volatility'

Prophet Capital Asset Management LP, an investor in loans and structured credit securities hit by recent market turmoil, plans to temporarily block withdrawals from one of its hedge funds and...

U.S. markets watchdog Clayton says SEC should not ban short-selling of shares

The head of the U.S. Securities and Exchange Commission said on Monday that it should not ban short-selling of shares, amid speculation on further measures the agency might take to arrest a market...

Colombia's ELN guerrillas declare unilateral cease-fire amid coronavirus

The National Liberation Army (ELN), the largest active guerrilla group in Colombia, will observe a unilateral cease-fire for one month from April 1 in an effort to help stem the spread of...

Hedge fund Fir Tree puts $410 million dislocation fund to work

After years of waiting and watching from afar, hedge fund Fir Tree Partners is spending $410 million from its dislocation funds on stocks, pockets of the credit market and other securities, sure the...

Your Money: The one document Americans need now - Power of attorney

If you live in the United States and really want to be prepared for coronavirus, experts say you need a fully executed power of attorney, which designates a trusted person to take over your finances...

Ackman says TV interview did not lead to profit on trades

Billionaire investor William Ackman said a CNBC television interview he gave last week was not designed to profit from any trades, dismissing some media speculation he had purposely pushed markets...

Column: How the $2 trillion U.S. coronavirus relief bill impacts retirement savers

The $2 trillion economic stimulus package racing toward passage in the U.S. Congress contains several important relief provisions for retirees, and for younger workers saving for retirement.

Settlement talks between First United, Driver Management break down

Talks between First United Corp and Driver Management to settle a fight for board seats at the bank holding company broke down when the activist investor rejected the offer, two sources familiar with...

U.S. cruise line company Lindblad names directors backed by ValueAct to its board

Lindblad Expeditions on Thursday said it named two independent directors backed by activist investment firm ValueAct Capital, which owns a nearly 10% stake in the adventure cruise company, to its...

Pay for cleaners, babysitters and dogwalkers hangs in the balance

Lily Reiche has lost nearly half of her dogwalking clients in Los Angeles because of California's coronavirus stay-at-home order. Of the 40 or so accounts at My Dog Spot, which dried up because...

New CEO pay limits loom as investors confront coronavirus crisis

The havoc wrought by the coronavirus crisis could give investors leverage to put new limits on CEO pay packages and link them more closely to a range of social and environmental issues at companies'...

White House not considering three-month tariff deferral: Navarro

The White House's top trade advisor denied on Tuesday that the Trump administration was considering a three-month deferral of tariff payments on imported goods to ease the pain of the economic...

BNY Mellon money fund gets capital infusion after 'shadow price' falls

A New Jersey municipal money-market fund run by BNY Mellon Corp needed an injection of $89,000 after the market value of the fund came under pressure, the bank disclosed on Tuesday in a U.S....

U.S. activist investors Land & Buildings, Engaged raise new capital: sources

Several investors who push management to perform better are trying to raise hundreds of millions of dollars in new cash to buy stakes in companies beaten down by a historic market selloff, four...

U.S. SEC warns against illegal trading during coronavirus disruption

The U.S. securities regulator on Monday warned corporate executives against insider trading during disruption caused by the coronavirus, in an unusual statement that underscores the chaos coursing...

Fed's money market move lifts Northern Trust fund above key threshold

Liquidity at a $2.2 billion prime money-market fund run by Northern Trust Corp fell below the key 30% U.S. regulatory threshold twice last week, but rebounded above that level after the U.S. Federal...

Some U.S. wealth advisers tell clients to stay put as markets fall

The deepest U.S. stock market sell-off since the 2008 financial crisis is prompting some financial advisers to tell wealthy clients to hold steady or even increase their equity exposure if they have...

Your Money - Separation anxiety: Divorce, money and coronavirus

The first few days of staying at home for coronavirus seclusion with my two kids were chaotic, stressful and scary, much like they were for everyone else.

Your Money: Coronavirus fears shake Yale economist Robert Shiller

In scary times like these, it is comforting to talk to someone who has seen and studied a lot of things – booms, busts, and everything in between.

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