News Highlights: Top Financial Services News of the Day - Wednesday at 4 PM ET

UniCredit Sees All Options Open for Commerzbank Stake But Won't Seek Board Seat 
 

Italy's UniCredit won't seek a seat on Commerzbank's supervisory board despite a recent move to become the German bank's biggest shareholder, UniCredit's chief executive said Wednesday.

 
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.

 
Financial Services Roundup: Market Talk 
 

Find insight on Sallie Mae, Commerzbank, UniCredit and more in the latest Market Talks covering Financial Services.

 
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.

(END) Dow Jones Newswires

September 25, 2024 16:15 ET (20:15 GMT)

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