News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Guggenheim in Talks to Sell Retail Funds Business to Invesco

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Guggenheim Partners is in talks to sell its retail funds business to Invesco Ltd., according to people familiar with the matter.

Millennium Health Trustee Targets J.P. Morgan Over Soured $1.8 Billion Loan

A trustee for creditors of Millennium Health LLC is suing J.P. Morgan Chase & Co. for funds to repay an ill-fated $1.8 billion loan, accusing the bank of concealing a federal investigation into the drug-testing company's billing practices that later drove it into chapter 11.

Departing GE Executive Joins Blackstone's New Infrastructure Unit

Steve Bolze, a General Electric Co. executive who was recently passed over for GE's top job, is joining Blackstone Group LP to help run its new infrastructure-investing business.

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J.P. Morgan Chase Settles Allegations Over Checking Account Denials

J.P. Morgan Chase agreed to pay $4.6 million to settle allegations it didn't properly inform people about why their account applications were denied.

Investors Pile Into Private Equity at Greatest Clip Since 2013

Apollo Global Management LLC, Carlyle Group LP and their private-equity peers are growing their assets at an accelerated clip as investors seek alternatives to richly priced stocks and bonds.

Insurers' Operating Incomes Rise

AIG posted better-than-expected operating results in its first quarter with Brian Duperreault at the helm, while competitor MetLife reported results for the last quarter before the spinoff of its historic core life-insurance unit.

Iraq Set to Raise $1 Billion in Bond Sale

Iraq is set to raise $1 billion through its first independent international bond sale in more than a decade, bankers aware of the transaction said on Wednesday, as the war-torn country looks for cash to support its finances.

U.S. Loan Risk Falls Slightly

The riskiness of big loans held by U.S. banks and investors "declined slightly but remains elevated" because of debt tied to corporate buyout deals and the oil-and-gas industry, according to regulators.

Pricewaterhouse to Settle Brokerage Audit Allegations for $1 Million

Accounting firm PricewaterhouseCoopers LLP agreed Wednesday to pay $1 million to settle a regulator's allegations that its audit of Bank of America Corp.'s Merrill Lynch brokerage had been inadequate.

Chicago Open Outcry Floor Wins Approval

Box Options Exchange won approval from the U.S. Securities and Exchange Commission to launch an open outcry floor in Chicago, the first of its kind in decades.

(END) Dow Jones Newswires

August 03, 2017 00:15 ET (04:15 GMT)