News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Pimco Threatens to Scuttle Novo Banco Sale

Continue Reading Below

Pacific Investment Management Co., or Pimco, and other bondholders in troubled Portuguese lender Novo Banco are threatening to derail a sale of the bank to private equity group Lone Star Funds, saying they would rather buy it themselves.

Chinese Banks Face Up to Funding Squeeze

Household deposits, long the foundation of China's economy, are now fleeing the country's banking system.

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

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.

Continue Reading Below

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.

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.

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.

Citadel Securities Hires Barclays's Electronic Equities Chief

Barclays PLC's head of electronic equities trading is leaving to take one of the top jobs at electronic market-making firm Citadel Securities. Joseph Mecane will be Citadel's head of execution services.

(END) Dow Jones Newswires

June 05, 2017 11:15 ET (15:15 GMT)