News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Blackstone Buys Billions in Spanish Real-Estate Assets

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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.

Mexican Development Banks Back Clean-Energy Projects

Mexican development banks are helping to finance large renewable energy projects that are bringing new players into the fledgling power market as a result of the government's long-term electricity auctions.

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

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..

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Prosecutors Drop Fraud Case Against Financier

Benjamin Wey was accused of securities fraud and other charges in 2015 for allegedly reaping millions illegally through reverse mergers.

PHH to Pay $75 Million Over Mortgage Underwriting

PHH Corp. said it agreed to pay the Justice Department $75 million to settle a case over mortgage loans.

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.

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.

(END) Dow Jones Newswires

August 09, 2017 00:15 ET (04:15 GMT)