News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Brexit Could Cost Banks $17 Billion

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Banks in the U.K. could be on the hook for $17 billion in costs to relocate certain activities to Europe after Brexit, according to a study by a finance trade group-a tab that could weigh on bank profits for years and ultimately hit European Union consumers.

Jana Takes Roughly 5% Stake in EQT

Jana Partners has taken a roughly 5% stake in EQT Corp. and is seeking to scuttle the energy company's proposed $6.7 billion acquisition of Rice Energy.

Hong Kong-Mainland Bond Link Gets Off to Quiet Start

China's bond market showed little reaction as Beijing and Hong Kong opened a trading link giving global investors additional access to the world's third-largest debt market.

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Global Regulators Claim Partial Victory in Tidying Financial System

A report prepared for world leaders by regulators on the Financial Stability Board said that many of the "shadow banking" activities that contributed to the financial crash that pushed the world economy into recession almost a decade ago no longer pose a risk to financial stability.

Bankrate to be Acquired by Marketing Firm Red Ventures

Red Ventures LLC said Monday it has agreed to buy personal finance website operator Bankrate Inc. in a $1.24 billion all-cash deal, as it seeks to expand its presence in the financial-services industry.

How MetLife Spinoff Could Shine Bright

When MetLife spins off Brighthouse Financial, investors will get a leveraged play on higher interest rates.

How Monte dei Paschi Ended Up on the Verge of Nationalization

Italy's expected nationalization of Banca Monte dei Paschi di Siena and its decision to sink billions into two failing banks are raising questions about whether the government's approach to bank oversight has helped or hurt taxpayers.

Bank of England Staff to Strike Over Pay

The Bank of England faces strike action by some of its staff after a ballot of workers in the maintenance, parlors and security departments found 95% supported a series of walkouts.

PBOC Injects $73 Billion Into Banking System

The People's Bank of China said the funds were injected through its medium-term lending facility last month.

Why It's So Easy to Lose Money in Bonds

The tiny hints from central banks about policy normalization shook markets up last week. They were also a reminder of the highly abnormal situation bond markets find themselves in.

(END) Dow Jones Newswires

July 03, 2017 11:16 ET (15:16 GMT)