JPMorgan Chase & Co. was granted immunity on an investigation into alleged cartel conduct after the bank
Citi became the first corporate bank to enroll as a registered third-party payment provider for open banking in the U.K. The inclusion will allow the bank to start launching new payment and collection services for its clients.
Meanwhile, Wells Fargo & Co. is considering conducting its European business in both Paris and Dublin as it prepares for the U.K.'s exit from the European Union, the Financial Times reports. Should the bank choose two post-Brexit hubs, it would join a growing list of banks that opted against a single alternative base. It is unclear how many London jobs will be affected by the bank's plan to shift some of its businesses to other hubs, the report said.
And Morgan Stanley CEO James Gorman said that the bank is interested in increasing its stake to 51% from 49% and then eventually to 100% in its Chinese joint venture, Morgan Stanley Huaxin Securities, Xinhua News Agency reports. Gorman also said that Morgan Stanley is planning to expand its wealth management business amid the growth of the middle class in China.
In the credit union
Private equity firm
In regulatory
In other parts of the world
Asia Pacific: 2 Australian insurers scrap merger plans; Westpac may shut funds management unit
Europe: UniCredit eyes merger with SocGen; CYBG ups Virgin Money offer; Spain has new PM
Middle East & Africa: Israel eases process for prospective new banks; Nigeria Re said to eye 2018 IPO
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng was up 1.66% to 30,997.98, and the Nikkei 225 rose 1.37% to 22,475.90.
In Europe, as of midday, the FTSE 100 was up 0.31% to 7,701.77, and the Euronext 100 climbed 1.02% to 1,059.77.
On the macro front
The factory orders report is due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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