News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Why Goldman Sachs Seized a Client's 217-Foot Yacht

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The story behind Goldman's nautical trophy catalogs the inevitable outcome of Wall Street's latest gold rush: lending to wealthy clients, the loans backed by everything from Warhols to fine wine.

SEC Delays Decision on Sale of Chicago Stock Exchange to Chinese Investors

The Securities and Exchange Commission said it would postpone approval of the sale of the Chicago Stock Exchange to a group led by Chinese investors, despite a recommendation from its staff to certify the deal.

BofA's New Premium Rewards Card Comes With a Twist

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.

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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.

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.

(END) Dow Jones Newswires

August 10, 2017 07:15 ET (11:15 GMT)