The U.S. House of Representatives may vote to go to conference with the Senate in order to reconcile the two chambers' legislative packages that would revise large swaths of the Dodd-Frank Act
Investment banks
JPMorgan has acquired a minority stake in London-based fintech startup Mosaic Smart Data, according to Reuters.
PNC Financial Services Group Inc. Chairman, President and CEO William Demchak received $13.9 million in total compensation in 2017. This is 201 times as much as the $69,190 a median employee received.
Asset manager
Meanwhile, China Investment Corp. has divested its stake in Blackstone Group amid increasing trade tensions between Washington and Beijing, the Financial Times reports. The fund had been gradually off-loading its stake in Blackstone in the past 18 months.
Effective in June, Google will ban all advertisements for cryptocurrencies
San Francisco-based Coinbase has been granted an e-money license by the U.K.'s Financial Conduct Authority. The license will allow the digital currency exchange to issue e-money and provide payment services in the country.
And the House Financial Services Committee's Subcommittee on Capital Markets, Securities and Investment will hold a hearing
In other parts of the world
Asia Pacific: ICBC NY branch faces regulatory action; Chinese wealth fund exits Blackstone
Europe: Pru to demerge UK, European ops; EU banks face new bad loan provision rules
Middle East & Africa: Bahrain exits EU tax haven blacklist; Angola issuing bonds to tackle bad debts
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng fell 0.53% to 31,435.01 and the Nikkei 225 dropped 0.87% to 21,777.29.
In Europe, around midday, the FTSE 100 rose 0.26% to 7,157.38 and the Euronext 100 rose 0.24% to 1,026.40.
On the macro front
The Atlanta Fed Business Inflation Expectations and EIA Petroleum Status Report are due out today.
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