JPMorgan Chase & Co.'s asset management unit has been in discussions with potential acquisition targets — including ETF Securities' U.S. subsidiary and Global X Management Co. LLC — as it looks to grow its exchange-traded fund business, Bloomberg News reports, citing "people familiar with the matter."
In Oklahoma, Liberty Federal Savings Bank is merging into Great Plains National Bank, the Enid (Okla.) News & Eagle reports.
In litigation news, FMR LLC and units Fidelity Global Brokerage Group Inc. and Fidelity Brokerage Services LLC are being sued after a technical glitch on Fidelity's trading platform allegedly prevented traders from placing their orders amid stock market volatility.
Days after completing a $30 million capital raise, First Capital Bancshares Inc. announced several changes in its board and management team, as well as a change in its base location. The company is moving its headquarters to Charleston, S.C., from Laurinburg, N.C. Among several appointments, Harvey Glick replaced Paul Rush as chairman, and Frank Cole Jr. replaced Charles Rivers as CEO and board member.
And in government and regulatory news, House Financial Services Committee Chair Jeb Hensarling, R-Texas, wants Federal Housing Finance Agency Director Melvin Watt to explain his decision to continue payments to the Housing Trust Fund and Capital Magnet Fund in the wake of Fannie Mae and Freddie Mac's latest infusion of taxpayer funds from the Treasury. In a Feb. 16 letter, Hensarling said the government-sponsored enterprises' payments to the funds is "deeply troubling."
In other parts of the world
Asia Pacific: Bangladesh bourse picks Chinese bid; National Australia Bank to cut 1,000 jobs
Europe: Spain's De Guindos set to take key ECB post; HSBC FY'17 profit up on Asia growth
Middle East & Africa: Saudi cabinet approves bankruptcy law; Capitec Bank 'back to normal'
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng dropped 0.78% to 30,873.63, and the Nikkei 225 dropped 1.01% to 21,925.10.
In Europe, around midday, the FTSE 100 was down 0.11% to 7,240.23, and the Euronext 100 was down 0.03% to 1,016.14.
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