News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Oaktree Nears Buyout of Fifth Street Asset Management

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Oaktree Capital is nearing a buyout of debt investor Fifth Street Asset Management, according to people familiar with the matter.

Pine River Capital to Spin Off Nearly $2 Billion Hedge Fund

Pine River Capital Management plans to spin off a nearly $2 billion government bond-trading fund into a standalone firm Jan. 1, in what is likely to be one of the biggest new hedge-fund launches next year.

Canada's CMHC Declares Special Dividend for Government

Canada's government-owned and dominant mortgage insurer Thursday declared a special dividend of 4 billion Canadian dollars as part of a new framework aimed at delivering excess cash to the federal treasury.

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U.S. to Sanction Chinese Bank Over North Korea Financing

The Trump administration said it plans to cut off China's Bank of Dandong from the U.S. financial system, accusing it of facilitating financing for companies involved in North Korea's weapons program.

CFTC Won't Prosecute Ex-Citigroup Traders Over 'Spoofing'

Three former Citigroup traders struck nonprosecution agreements with the Commodity Futures Trading Commission thanks to their cooperation in a larger investigation of "spoofing" in U.S. Treasury markets, the CFTC said.

Twisted Geniuses or Bumbling Ex-Academics?

Wild swings in currencies this week show how markets are prone to misconstrue statements of the obvious by leading policy makers.

Fed's Bullard, Seeing No Inflation Pickup, Argues Against Raising Rates

St. Louis Fed President James Bullard said he didn't support raising short-term interest rates again this year, casting doubt on the view that the low unemployment rate in the U.S. would push up inflation.

Chip Makers Cashing In on Digital Currencies, for Now

Graphics processors have long been the mainstay of personal computers tricked out for gaming. But the chips are also useful for a task called cryptocurrency mining.

Fed's Stress Tests: All Banks Cleared on Payouts to Shareholders

Big U.S. banks won approval from the Federal Reserve on Wednesday to return money to shareholders, suggesting regulators believe they are healthy enough to stop stockpiling capital.

20 Years After Handover, China Looms Ever Larger Over Hong Kong Markets

From the ever-rising activity of China's traders to the plethora of Chinese companies listing on Hong Kong's stock exchange, China hangs over Hong Kong's markets in a way few expect to dissipate in the coming years.

(END) Dow Jones Newswires

June 29, 2017 16:16 ET (20:16 GMT)