News Highlights: Top Financial Services News of the Day - Thursday at 12 AM 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 26, 2024 00:15 ET (04:15 GMT)
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