News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Blackstone Group Raises Big European Property Fund

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Blackstone Group LP, one of the world's largest private real-estate investors, has closed a EUR7.8 billion fund that will focus on European commercial real estate, the largest of its kind ever raised.

Labor Secretary: Final Review of Fiduciary Rule in Motion

Labor Secretary Alexander Acosta said the first step has been taken in deciding the fate of a landmark retirement-savings rule that goes into partial effect this Friday.

U.S. Consumer Credit Increases by $8.20 Billion in April

U.S. consumer borrowing decelerated in April to a 2.58% annual rate, marking the slowest pace of growth since August 2011, Federal Reserve data showed.

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Santander Buys Banco Popular for EUR1 After Rival Deemed Likely to Fail

Santander has acquired Banco Popular Español in an overnight auction for the nominal amount of EUR1 after the European Central Bank determined that Spain's No. 6 bank by assets was "failing or likely to fail."

SEC to Hire Dalia Blass as Top Regulator of Mutual Funds, ETFs

The Securities and Exchange Commission is poised to hire as its top mutual-fund regulator an attorney whose spouse is about to step down as chief lawyer for the industry's trade group, according to people familiar with the matter.

Trump's Nominee for Financial Post Backs 'America First' Policies

The Trump administration's nominee to be Washington's top financial diplomat, ex-Bear Stearns chief economist David Malpass, advocated an America-first revision of the world's economic architecture as senators reviewed his nomination Wednesday.

ECB Workers Rally in Frankfurt Against IT Staffing Changes at Bank

European Central Bank employees took to the streets to protest ECB plans to change an IT service provider, which the union representing central-bank staff said put more than 100 jobs at risk.

Lansdowne Rebounds With Help From Little-Known Forensic Fund

Lansdowne Partners' tiny Princay fund has gained 13% this year, making it one of the sector's top performers this year.

ECB Critic Holds His Tongue as Race Nears for Bank's Top Job

German central-bank leader Jens Weidmann, who has loudly slashed the European Central Bank's crisis-fighting efforts, has become a quiet ECB defender.

OECD Moves to Limit Tax Avoidance by Multinationals

More than 70 countries and jurisdictions signed an agreement limiting the ability of multinationals to exploit divergences between tax treaties, a practice known as "treaty shopping" that enables companies to pay lower taxes.

(END) Dow Jones Newswires

June 07, 2017 16:15 ET (20:15 GMT)