News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Vantiv to Buy Back $1.27 Billion in Shares Held by Fifth Third

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Vantiv agreed to buy nearly 20 million of its shares from former parent Fifth Third Bancorp for roughly $1.27 billion in a move that allows the payments-processing firm to avoid stock dilution ahead of its planned acquisition of the U.K.'s Worldpay Group..

Blackstone Buys Billions in Spanish Real-Estate Assets

Blackstone Group said it has agreed to acquire a majority stake in rescued Spanish lender Banco Popular Español's real-estate portfolio, a vote of confidence by the U.S. asset manager in Spain's robustly recovering economy.

Abu Dhabi Sovereign Fund Extends 1MDB Payment Deadline

An Abu Dhabi sovereign-wealth fund said it has extended the deadline for Malaysia's 1MDB to make a payment of about $600 million, giving its former business partner until the end of August to honor its obligations.

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Wells Fargo Faces a New Auto-Loan Headache

Wells Fargo is facing more regulatory scrutiny related to auto-insurance practices, this time over GAP insurance.

Low Volatility Takes Toll on Virtu's Profit Machine

Virtu Financial's stock tumbled after the electronic trading giant reported a steep slide in revenues, driven by stubbornly low volatility across financial markets.

J.P. Morgan Chase Axes Popular Debit Card Feature

J.P. Morgan Chase has quietly canceled a popular program that allowed customers to replace lost debit cards at many of its 5,300 branches, responding to factors including an uptick in fraud.

SEC Ordered to Reconsider Options-Industry Fee Plan

A federal appeals court criticized the Securities and Exchange Commission for approving a fee plan by the options industry's major clearinghouse and told the regulator to redo its work.

Who Ultimately Pays for Corporate Taxes?

An academic debate over whether investors or workers bear the ultimate burden of U.S. corporate taxes has important implications for Republican efforts to overhaul the tax code.

What Could Possibly Ruin Traders' Summer Vacations?

It is the dog days of summer for investors-trading has slowed as stocks have risen steadily around the world. Still, August is known for offering financial markets a range of surprises.

Tools for Cleaning Up Europe's Bad Debt: 18-Wheeler and a 'Strong Stomach'

Efforts have accelerated to combat the bad-loan problem afflicting much of southern Europe, but these efforts are so messy that bank executives and analysts don't expect a resolution of the problem for years to come.

(END) Dow Jones Newswires

August 08, 2017 16:15 ET (20:15 GMT)