News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Chinese Banks Find a Convertible Solution to Capital Problem

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Struggling midsize banks that need to raise equity are turning increasingly to the convertible-bond market.

3i Forecasts Continued Strong Growth

3i Group reported an 8% rise in its net asset value per share in the first half of the year and said it was on track to deliver another year of strong growth in its private-equity portfolio.

Low-Inflation Risk Motivated Bank of Canada's Caution on Rates: Wilkins

The risk posed by low inflation and concern about households immediately paring back spending after two recent rate increases helped motivate the Bank of Canada to embrace a cautious approach in future policy decisions, Carolyn Wilkins, the central bank's senior deputy governor, said Wednesday.

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Activist Peltz Narrowly Wins P&G Board Seat, New Count Shows

Activist investor Nelson Peltz won a proxy fight for a board seat at Procter & Gamble by a slim 43,000 vote margin, a preliminary report says, weeks after the company had declared victory in fending off his bid.

CFPB Head Cordray to Step Down, Paving Way for Change at Watchdog

Richard Cordray, the first head of a consumer regulator created after the financial crisis, plans to leave at the end of November, ending a tumultuous six-year tenure and paving the way for President Donald Trump to restructure the agency.

Republican Sen. Ron Johnson Opposes GOP Senate Tax Package

Sen. Ron Johnson, a Wisconsin Republican, said he opposes the Senate GOP tax package, saying it unfairly benefits corporations more than other types of businesses. His position could undermine the Senate's efforts to pass a tax plan by early December.

Vanguard Predicts a Record $350 Billion in New Cash

Vanguard Group is on pace to collect a record one-year total of $350 billion in investor cash by the end of 2017, Chief Executive F. William McNabb III said after a shareholder meeting in Scottsdale, Ariz.

New Deutsche Bank Investor Cerberus Doubles Down on German Lenders

U.S. private-equity firm Cerberus Capital Management on Wednesday disclosed a 3% stake in Deutsche Bank AG, deepening its bets on European banks and the German economy.

Intelligence Firm Used By Harvey Weinstein Resurfaces In Toronto Suit

West Face Capital Inc. filed a motion with an Ontario court seeking an order to stop Israeli intelligence firm Black Cube from continuing alleged attempts to covertly obtain confidential information from the Toronto firm's former and current employees.

Goldman Partner Says U.K. Would Be 'Like Cuba Without Sun' Under Corbyn

A Goldman Sachs partner made a rare political swipe, calling the weakness of the U.K. government "scary" and warning it could trigger an election win for left-wing opposition leader Jeremy Corbyn that would be a "disaster."

(END) Dow Jones Newswires

November 16, 2017 07:15 ET (12:15 GMT)