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Goldman, Morgan Stanley Limit Losses With Fast Sale of Archegos Assets
Goldman Sachs Group Inc. and Morgan Stanley were quick to move large blocks of assets before other large banks that traded with Archegos Capital Management, as the scale of the hedge fund’s losses became apparent, according to people with knowledge of the transactions. The strategy helped limit the U.S. firms’ losses in last week’s epic …
Dow Futures Rise Despite Unrelenting Covid-Case Increases. Here’s What the Market Might Be Watching.
Text size Jeenah Moon/Getty Images 7:18 a.m. Cases of coronavirus continue to rise. Earnings season is getting ready to start. And Dow Jones Industrial Average futures are rising. That’s not as contradictory as it sounds. The stock market picked up Monday right where it left off on Friday. Dow futures have advanced 205 points, or …
‘We Need to Be a Technology Company.’ Wells Fargo Struggles With Aging Systems.
At 5 a.m. one day last February, construction work tripped a sophisticated fire-extinguisher system in a Minnesota data center used by Wells Fargo WFC -0.44% & Co., knocking out power to servers housed in the building. Customers soon noticed: the bank’s online and mobile banking systems were out for hours. The outage brought into public …
