News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

State Street to Pay $35 Million to Settle SEC Probe

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State Street will pay $35 million to settle U.S. claims that it overcharged customers using secret markups and failed to fully inform other clients about how its platform for trading Treasury securities worked.

Hartford Warns It Could File for Bankruptcy

Hartford officials said it would likely file for bankruptcy in 60 days unless Connecticut provides help for the cash-strapped capital city in the midst of a fiscal emergency.

Citigroup Taps Second UBS Banker This Week

Citigroup Inc. has tapped a UBS Group AG investment banker to head up its chemicals coverage for Europe, the Middle East and Africa, the second time this week the big U.S. bank has announced a new hire from its Switzerland-based rival.

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Low Inflation Gives Fed Pause on Raising Rates Again This Year

Stubbornly low inflation readings are giving Federal Reserve officials second thoughts about whether they will be in a position to raise short-term interest rates again this year.

Trump Banking-Oversight Nominees Clear Hurdle

The Senate Banking Committee advanced two Trump administration banking-oversight nominees: Randal Quarles to be Federal Reserve vice chairman for banking supervision, and Joseph Otting to be comptroller of the currency.

Big Bank Plays Regulatory Hopscotch

Nordea is moving its headquarters from Sweden to the eurozone, where the bank hopes for better tax and capital treatment.

Why Florida Is Largely Insured by Companies You've Never Heard Of

Hurricane Irma will test a Florida insurance market where a wave of large insurers aggressively reduced their footprint, replaced by smaller firms and a state-backed body.

How to Gauge Whether Irma Will Be an Insurance Catastrophe

Hurricane Irma could be the costliest hurricane ever for insurers. But it may take a loss of more than $100 billion to turn the industry's tide of more capital and weaker returns.

A Healthy Dose of Profits at Cigna

Cigna has produced great growth and with pricing power and protection from government rules should keep growing.

Three Dangerous Words for an Investor: Inflation Is Dead

If policy makers and economists can't explain convincingly why inflation is where it is, why are investors putting so much faith in their forecasts of where it will go?

(END) Dow Jones Newswires

September 07, 2017 16:15 ET (20:15 GMT)