News Highlights: Top Financial Services News of the Day - Monday at 7 AM ET

A Real-Estate Fund Industry Is Bleeding Billions After Starwood Capped Withdrawals 
 

Redemptions industrywide from real-estate funds are expected to hit $16.5 billion this year while new fundraising dwindles to $5.7 billion.

 
BlackRock to Acquire Data Provider Preqin for $3.22 Billion 
 

The deal is part of the efforts by the world's largest asset manager to bolster data capabilities as it expands into private-market investments.

 
Pro Take: Postpandemic Hiring Boom Brings In Black Workers 
 

The Black labor-force participation rate has climbed above that for white people, with Black men without college degrees major contributors to the increase.

 
VC-Backed IPOs Had a Tepid First Half, Squeezing Venture Capital More 
 

Hopes for a resurgence of venture-backed initial public offerings at the start of the year are petering out, prolonging a drought in exits for venture-capital firms.

 
Supreme Court Kills a Favorite Liability Shield for Private Equity 
 

The Purdue Pharma decision could increase investors' liabilities over bankrupt portfolio companies.

 
Big Banks Boost Dividends After Passing Stress Tests 
 

Goldman, Morgan Stanley and others detailed their capital plans on Friday.

 
Crypto Platforms to Report Tax Information to IRS Starting in 2026 
 

In a long-awaited step against tax evasion in cryptocurrency markets, the Treasury Department adopted a final rule requiring many crypto platforms to begin reporting users' transactions to the Internal Revenue Service.

 
European Banks' Bid to Close Gap With Wall Street Temporarily Stumbles Into Politics 
 

European banks' efforts to narrow the once-significant valuation gap with their American peers have faced what many analysts expect will prove to be a temporary setback.

 
Warren Buffett Gives Us a Preview of His Will 
 

The famed investor, who owns nearly $130 billion in Berkshire Hathaway stock, will direct his fortune into a new charitable trust overseen by his children.

 
Monaco, Venezuela Placed on Global Money-Laundering Watch List 
 

The Financial Action Task Force also removed Jamaica and Turkey from the gray list.

(END) Dow Jones Newswires

July 01, 2024 07:15 ET (11:15 GMT)

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