News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

BofA's New Premium Rewards Card Comes With a Twist

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Bank of America is preparing to join the premium rewards card fray, planning a new twist on hot products geared toward the affluent like J.P. Morgan Chase's Sapphire Reserve card.

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

Ten years ago 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.

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.

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AmTrust Shares Drop On Profit Decline

Shares of AmTrust Financial Service tumbled Wednesday after the company reported a lower second-quarter profit and said it was taking a more "conservative" stance toward its business.

Canadian Private-Equity Giant Catalyst Accused of Fraud by Whistleblowers

Authorities are looking into complaints from whistleblowers who say Catalyst Capital Group and its publicly traded lending arm artificially inflated the value of some of its assets and deceived borrowers about the terms of loans.

Labor Department Seeks 18-Month Delay in Fiduciary Rule

The Labor Department is proposing an 18-month delay in the fiduciary rule's compliance deadline, according to a court document.

Some Avaya Pensioners Rethink Retirement Plans After Bankruptcy Deal

Avaya's recent deal to exit bankruptcy has put some of the telecom company's pensioners at ease, but a small group will lose a significant portion of their retirement income.

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.

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.

(END) Dow Jones Newswires

August 09, 2017 16:15 ET (20:15 GMT)