The union-backed Committee for Better Banks is pushing Wells Fargo & Co. to add an employee to the bank
KeyCorp CFO Donald Kimble said the bank will close 40 branches in 2018 in an effort to reduce costs. The company is looking to lower its cash efficiency ratio to a range of 54% to 56% by the end of 2018.
First Mid-Illinois Bancshares Inc. is acquiring SCB Bancorp Inc. in a stock-and-cash deal valued at approximately $70.4 million. The deal is expected to close late in 2018.
Southern Missouri Bancorp Inc. is buying Dexter, Mo.-based Gideon Bancshares Co. in a cash-and-stock deal valued at about $22.7 million.
Wichita, Kan.-based Equity Bancshares Inc. agreed to acquire Guymon, Okla.-based City Bank and Trust Co. from parent company Docking Bancshares Inc. for about $18.9 million. The deal is expected to close in the fourth quarter.
Goldman Sachs & Co. LLC is planning to expand the scope of its depository coverage to reach the goal of adding 1,000 new investment banking clients across various sectors.
Asset manager
Foreshore Exploration Partners Corp., which operates as a capital pool company, is buying cryptocurrency
On Capitol Hill
And the Subcommittee on Capital Markets, Securities and Investment will hold a hearing entitled, "Ensuring Effectiveness, Fairness and Transparency in Securities Law Enforcement" at 2 p.m. ET.
In other parts of the world
Asia Pacific: China eases foreign investment rules; Malaysia to review insurer ownership rules
Europe: SocGen could sell Belgian, Polish units; Czech banks face tougher capital rules
Middle East & Africa: Abraaj to file for provisional liquidation; Swiss Re snaps up stake in Britam
The day ahead
Early morning futures indicators pointed to a mixed opening for the U.S. market.
In Asia, the Hang Seng lost 1.22% to 30,725.15, while the Nikkei 225 rose 0.38% to 22,966.38.
In Europe, around midday, the FTSE 100 gained 0.45% to 7,738.39, and the Euronext 100 increased 0.43% to 1,066.63.
On the macro front
The MBA Mortgage Applications, Atlanta Fed Business Inflation Expectations, EIA Petroleum Status report, FOMC meeting announcement, FOMC forecasts and Federal Reserve Chair press conference are 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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