News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bank of England to Overhaul How it Handles Conflicts of Interest

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The Bank of England is set to implement in full a suite of recommendations to overhaul its approach to managing conflicts of interest, after the failure of a senior official to disclose a potential conflict led to her resignation.

Vantiv Seals $10 Billion Worldpay Deal

Ohio-based Vantiv agreed to acquire U.K. payments processor Worldpay Group for about $10.4 billion in cash and stock, one of the biggest deals in the fast consolidating sector.

Aug. 9, 2007: The Day the Mortgage Crisis Went Global

Ten years ago this Wednesday, the first glimpses of the global financial crisis came into view. That day didn't expose just the disarray of the global financial industry. It also illuminated behavioral patterns that helped accentuate the crisis.

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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.

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..

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.

(END) Dow Jones Newswires

August 09, 2017 07:15 ET (11:15 GMT)