News Highlights: Top Financial Services News of the Day

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Energy Capital Partners Near Deal to Buy Calpine

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Private-equity firm Energy Capital Partners is nearing a deal to buy power-generation company Calpine Corp., according to people familiar with the matter.

Blackstone Group to Buy Midstream Investor Harvest Fund Advisors

Blackstone Group LP has a deal to buy Harvest Fund Advisors LLC, an investment-management firm with more than $10 billion in assets under management that focuses on midstream energy assets.

Yellen to Speak on Financial Stability at Jackson Hole Next Week

Federal Reserve Chairwoman Janet Yellen will speak at the central bank's annual economic symposium in Jackson Hole, Wyo., next week, the Fed announced Thursday.

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Fed's Kaplan Urges Patience on Raising Rates

Dallas Fed President Robert Kaplan reiterated that a rise in inflation would help him offer support for another rate increase by the U.S. central bank this year.

MassMutual to Sell Asian Unit to Jack Ma-Backed Company

Massachusetts Mutual Life Insurance Co. agreed to sell its Hong Kong-based operations for about $1.7 billion to a group of Asian investors that includes two companies affiliated with Chinese billionaire Jack Ma.

Ernst & Young Chairman on Advising Trump: A Balancing Act

In a memo to employees, Ernst & Young's CEO said that 'as much as I believe in engagement,' it was 'appropriate' for business leaders to disband the Trump administration's advisory panel on which they had served.

Standard Bank Profit Rises 14% in First Half

Standard Bank Group, Africa's biggest lender by assets, reported a higher half-year profit, citing robust earnings in markets on the broader continent, including Angola, Ghana, Mozambique, Nigeria and Uganda.

Bank of America to Pay $6 Million to Bankrupt Couple Evicted From Home

Bank of America Corp. has agreed to pay more than $6 million to a California couple who a federal judge said had been harassed and illegally foreclosed on by the bank's mortgage unit, ending an eight-year-long dispute.

Pension Funds Sue Six Banks, Claiming Stock-Lending Abuses

Three U.S. pension funds sued six major global banks, saying they conspired to block competition in the stock-lending market.

Students Who Took Private Loans Through Corinthian Eligible for Relief

Former Corinthian Colleges Inc. students who took out 46,000 private loans through the now-defunct school will be eligible for $192 million in loan relief, based on a settlement announced by 13 state attorneys general and the Consumer Financial Protection Bureau.

(END) Dow Jones Newswires

August 18, 2017 00:15 ET (04:15 GMT)