News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

World Bank Forecasts Global Economic Growth to Hit Seven-Year High Next Year

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A rebound in trade growth from postcrisis lows should help perk up the global economy next year to its fastest pace in nearly seven years, the World Bank said Sunday.

ECB's Path to Unwinding Easy Monetary Policies Proves Thorny

Three years ago, the European Central Bank became the first major monetary authority to cut a key interest rate below zero. Now, that decision is complicating life for policy makers in Frankfurt as they prepare to plot a route back to normality.

More Chinese Companies Turn to Shadow Banking

Beijing's game of Whac-A-Mole against financial risks is sending some borrowers into darker corners. New loans from so-called trusts in the first four months of this year were nearly five times as much as a year earlier.

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Goldman's Venezuela Bond Trade Wasn't Reviewed by Top Executives

Goldman Sachs's purchase of deeply discounted Venezuelan bonds wasn't reviewed by top executives, and the subsequent uproar over that trade caught the firm's officials off guard.

Futures Trader Banned After Pleading Guilty to 'Spoofing'

A former futures trader at a global bank was permanently barred from the industry after admitting he conspired to manipulate the price of gold and silver futures contracts.

Mortgage Trustees Accept Lehman's $2.4 Billion Bankruptcy Offer

Lehman Brothers Holdings Inc. has won more support for a proposal to pay at least $1 billion to investors holding soured mortgage debt, deepening a divide with hedge funds opposing the bankruptcy deal.

KKR Closes $9.3 Billion Asia Private-Equity Fund

KKR & Co. closed a $9.3 billion fund dedicated to private-equity investments across Asia Pacific, the largest such fund in the region, the U.S. private-equity giant said Friday.

China's Sovereign-Wealth Fund to Buy European Warehouse Company From Blackstone

China's sovereign-wealth fund is buying a European warehouse company from Blackstone Group for $13.81 billion, a sign of the industrial real-estate sector's strength driven by online shopping.

Bitcoin Firm Coinbase Seeks New Funds at $1 Billion Valuation

Coinbase, a bitcoin startup, is in talks to raise about $100 million in new funding at a valuation of more than $1 billion, according to people familiar with the matter.

Citigroup Adds Quant Trader Thomas Chippas to Boost Equities Business

Citigroup has tapped a quantitative trading veteran to help the bank vault into that hot category, as part of a broader build-up of its equities unit.

(END) Dow Jones Newswires

June 05, 2017 00:15 ET (04:15 GMT)