News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

U.S. Chamber of Commerce Asks SEC to Reject New Auditor Disclosure Rule

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The business group is asking the Securities and Exchange Commission to block a new rule that would require auditors to tell investors more about what they find when they audit a company's books.

Deutsche Bank Names Tom Patrick as Americas CEO

Deutsche Bank named global equities chief Tom Patrick to oversee the Americas region, the third executive to hold the title of Americas CEO since early 2016.

KPMG to Pay $6.2 Million to Settle SEC Claims of Audit Failures

KPMG agreed to pay $6.2 million to settle SEC allegations that the accounting firm botched its audit of an oil-and-gas company, and the lead partner on the audit agreed to a suspension from auditing public companies.

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Massachusetts Probes Retail Brokers Over Exchange Payments

Massachusetts is investigating whether retail brokerages hurt investors by routing orders to stock exchanges that pay them rebates, creating a potential conflict of interest, a top state official said.

Why Blackstone Is Betting $7 Billion on Natural Gas

Private-equity firm Blackstone is making one of its biggest bets on the growth of natural gas production, wagering that even if gas prices remain stuck at depressed levels, it can profit.

Amazon Plans Debt Offering to Finance Whole Foods Deal

Amazon.com is on track to sell as much as $16 billion of bonds Tuesday to help fund its purchase of Whole Foods Market Inc., making a relatively rare trip to the debt market as it looks to become a major player in the grocery industry.

Johnny Depp's Former Business Managers Face Federal Probes

Federal investigators from three agencies are looking into a top Hollywood business-management firm facing fraud allegations from a former client, actor Johnny Depp, according to people familiar with the matter.

Fed Minutes May Offer Clues on Start of Portfolio Wind-Down, Rate Rise Plans

The Federal Reserve on Wednesday will release minutes from its July meeting, when it left interest rates unchanged and indicated it could begin shrinking its bond portfolio as soon as September.

Defaults Increase for 'Green' Loans

PACE loans are designed to help homeowners make eco-friendly upgrades to their homes. But the number of people defaulting on their payments is on the rise, according to tax data.

Warren Buffett Cashes Out on GE, Cashing In on Crisis Loan

Warren Buffett's Berkshire Hathaway is getting out of one of America's oldest companies: General Electric. Berkshire received most of the shares after the investor lent roughly $3 billion to GE in October 2008 during the depths of the financial crisis.

(END) Dow Jones Newswires

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