trending Market Intelligence /marketintelligence/en/news-insights/trending/5eP0VbZsifkm2fX-akAVBg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Warren asks CEOs about arbitration rule; ADP chief calls Ackman 'spoiled brat'

Street Talk Episode 68 - As many investors zig away from bank stocks, 2 vets in the space zag toward them

Street Talk Episode 66 - Community banks tap the debt markets while the getting is good

Street Talk Episode 67 - Veteran investor tabs Mick Mulvaney to help with latest financial stock-focused fund

Street Talk Episode 65 - Deferral practices trap US bank portfolios in purgatory

Warren asks CEOs about arbitration rule; ADP chief calls Ackman 'spoiled brat'

Elizabeth Warren is asking large financial institutions to weigh in on the Consumer Financial Protection Bureau's arbitration rule. "If your lobbyists are taking such strong positions against the rule, is there a reason both you and your bank have been unwilling to take a public position?" Warren wrote in a letter addressed to CEOs at JPMorgan Chase & Co., Bank of America Corp., Wells Fargo & Co., Citigroup Inc., U.S. Bancorp, PNC Financial Services Group Inc., TD Group US Holdings LLC, Capital One Financial Corp., HSBC North America Holdings Inc., Charles Schwab Corp., BB&T Corp., SunTrust Bank, Barclays US LLC, Ally Financial Inc., American Express Co. and Citizens Financial Group Inc. The Massachusetts Democrat wants them to respond by Sept. 1.

In an interview with CNBC, Automatic Data Processing Inc. President and CEO Carlos Rodriguez said Pershing Square Capital Management LP CEO William Ackman reminds him of a "spoiled brat in school asking a teacher for an extension for their homework." Pershing Square had taken an 8.3% stake in the fintech company, and Ackman wanted an extension on the deadline to nominate members to the ADP board. The deadline was Aug. 10, but Ackman sought an additional 30 to 45 days. On Monday the hedge fund nominated three directors to the company's board, including Ackman himself. Previously Pershing Square aimed to nominate five directors and push out Rodriguez as CEO.

Walter Investment Management Corp. said "substantial doubt" has been raised over its future. The specialty lender expects to continue for at least the next 12 months. However, the company said it may be unable to maintain sufficient liquidity to operate its servicing and lending businesses because it is unable to renew, replace or extend various financing or facilities on favorable terms.

In more banking news, at least three lawsuits have been filed against OceanFirst Financial Corp.'s proposed acquisition of Sun Bancorp Inc., all claiming that the latter's board is in breach of its fiduciary duty.

Capital One is laying off about 400 call center employees in Rolling Meadows, Ill., noting a decline in call volumes, the Chicago Tribune reports.

And Coinbase announced on its blog that it secured $100 million in Series D funding. The digital currency exchange plans to use the new capital to open an office in New York City for professional trading platform GDAX, invest in Ethereum network browser Toshi and expand the engineering and customer support teams.

In other parts of the world

Asia-Pacific: National Australia Bank's Q3 cash profit up 5%; HK regulator may penalize CBA

Europe: Old Mutual's H1 profit up 87%; Nationwide's Q2 profit drops; Co-op loss widens

Middle East & Africa: Saudi banks see NPL rise; Zenith posts Q2 profit; Mozambique, Zambia cut rates

The day ahead

Early morning futures indicators pointed to a lower opening for the U.S. market.

In Asia, the Hang Seng dropped 2.04% to 26,883.51, and the Nikkei 225 slipped 0.05% to 19,729.74.

In Europe, around midday, the FTSE 100 was down 1.21% to 7,300.56, and the Euronext 100 was down 1.06% to 986.29.

On the macro front

The consumer price index and the Baker-Hughes Rig Count report are due out today.

The Daily Dose is updated as of 7:30 a.m. ET. Some external links may require a subscription.