News Highlights: Top Financial Services News of the Day - Wednesday at 12 AM ET

Fengate Acquires Canada Data-Storage Firm eStruxture in $1.3 Billion Deal 
 

Toronto-based Fengate Asset Management has acquired control of a data-center services provider in one of the biggest privately-led Canadian deals of the year.

 
Inside Citigroup's Most Mysterious Business 
 

A business that has long stood in the shadows of pretty much everything else in Citi's portfolio makes up half of its total profit. An investor day Tuesday highlighted its hidden value.

 
Plan for New Accounting Rules on Software Costs Moves Forward 
 

The Financial Accounting Standards Board's scaled-back proposal would take more software off the balance sheet for companies that internally use it.

 
Crypto Collective Hector Files U.S. Bankruptcy to Stave Off Lawsuit 
 

Cryptocurrency collective Hector DAO has filed for bankruptcy protection in the U.S. after token holders accused it of breaching its duties to users.

 
The Mega Commission That Got Away From a Veteran Insurance Agent 
 

A real-estate billionaire's policies set off an eight-year battle over the payout.

 
Vanguard, the low-cost investing pioneer, will now charge $100 to close an account - unless you're a multimillionaire 
 

The account-closure fee is a first for Vanguard, long a provider of low-cost investing options and a pioneer in passively managed index funds, and it's not sitting well with some customers.

 
Pro Take: Latin America Cools Off on Rate Cuts as the Fed Holds Steady 
 

Higher for longer rates in the U.S. may lead to slower policy easing in countries like Brazil and Mexico, but other forces also are also at play.

 
Financial Services Roundup: Market Talk 
 

Gain insight on a growing appetite for gold, shelter costs, ING Groep, and more in the latest Market Talks covering Financial Services.

 
Apple Is Shutting Down Its Buy Now, Pay Later Service 
 

The decision comes just over a year after Apple Pay Later was introduced.

 
Citigroup Facing New Regulatory Knock on Its Living Will 
 

The FDIC is preparing to hand Citigroup a failing grade on its living-will plan, the latest rebuke for the megabank that has struggled to stay in the government's good graces.

(END) Dow Jones Newswires

June 19, 2024 00:15 ET (04:15 GMT)

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