News Highlights: Top Financial Services News of the Day - Wednesday at 7 AM ET
The Two Big Insurers Still Betting on Fossil Fuels
Most companies have cut back on oil, gas and coal investments after big climate-related losses. But State Farm and Berkshire Hathaway's insurance companies increased theirs.
Justice Department Sues Visa, Alleges Illegal Monopoly in Debit-Card Payments
The largest card network in the U.S. blocked rivals through payments and higher fees levied on merchants, the government said.
Commerzbank CEO to Step Down; Finance Chief Bettina Orlopp Named Successor
The changes come as the German bank continues a battle with UniCredit over its future.
Private-Equity Deal for Smartsheet Could Signal a Rebound in Software Buyouts
The deal with Blackstone and Vista Equity Partners values the work-management software provider at about $8.4 billion.
A Private-Equity Executive Pushes for Workers' Stake in U.S. Companies
A co-head of KKR's global private-equity business wants to change a 1974 law governing employee stock-ownership plans.
SEC Issues $88 Million Fine Against 12 Firms for Record-Keeping Failures
The regulator also highlighted factors that led to one firm receiving no civil penalty.
Fed's Bowman says inflation remains a concern despite recent progress
"While it has not been my baseline outlook, I cannot rule out the risks that progress on inflation could continue to stall," Fed Gov. Michelle Bowman said.
Bank of Canada Gov. Macklem Says Growth Needs to Accelerate to Maintain 2% Inflation
Bank of Canada officials want growth to accelerate and absorb the sizable amount of spare capacity in the economy, Gov. Tiff Macklem said Tuesday, arguing this is a requisite to keep inflation at or near its current 2% level.
Star FTX Witness Caroline Ellison Sentenced to Two Years in Prison
Former crypto executive contributed to a multibillion-dollar fraud.
Justice Department Pushes Companies to Consider AI Risks
Compliance officers should now add artificial intelligence to the list of things they need to worry about, the Justice Department says.
(END) Dow Jones Newswires
September 25, 2024 07:15 ET (11:15 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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