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

The Fed Isn't First to Cut Rates, but It Is the Signal Other Central Banks Want 
 

Policymakers in the U.K., eurozone and Canada have already cut rates. But India, South Korea and others are, essentially, waiting for the Fed.

 
Legal & General to Sell House Builder Cala 
 

Legal & General has agreed to sell its U.K. house builder Cala, receiving cash proceeds of GBP1.2 billion, as it implements its plan to refocus on its main operations.

 
Bank of Canada Welcomes 2% Inflation, Pivoting Focus to Growth 
 

The Bank of Canada's No. 2 official says inflation returning to 2% in August is welcome news for policymakers, who are now increasingly focused on downside risks and spurring economic growth.

 
JPMorgan in Talks With Apple to Take Over Credit Card From Goldman 
 

The bank could become the new Apple credit-card issuer, but is seeking concessions from the tech company.

 
Mets Owner Steve Cohen to Stop Trading for His Hedge Fund 
 

The billionaire plans to remain at the firm and focus on strategy and mentoring.

 
Fed Prepares to Lower Rates, With Size of First Cut in Doubt 
 

The central bank usually prefers to move in increments of a quarter point. This time, it's complicated.

 
The Fed Rate Cut Is Here. Our Correspondent Explains What's at Stake. 
 

The Federal Reserve is poised to cut rates Wednesday for the first time in years. Fed correspondent Nick Timiraos discusses the historic move and what it means.

 
Prager Metis to Resolve SEC Fraud Charges Over Bankman-Fried's FTX Audits 
 

The advisory and accounting firm agreed to pay $745,000 to the SEC to resolve negligence-based fraud charges over its past audits of Sam Bankman-Fried's trading platform FTX.

 
Companies Prepare to Hang On to High-Yielding Cash Ahead of Fed Rate Cut 
 

The initial playbook for a rate-cutting cycle includes pushing banks to keep deposit rates high and moving cash into money-market funds, corporate advisers say.

 
Carlyle Targets Home-Equity Deals With Stake in Unison 
 

The deal further expands Carlyle's push into asset-based finance.

(END) Dow Jones Newswires

September 18, 2024 07:15 ET (11:15 GMT)

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