The Federal Bureau of Investigation and the Office of the Comptroller of the Currency are investigating the pricing practices of American Express Co.'s foreign exchange international payments unit, sources told The Wall Street Journal. The payments company
Citigroup Inc. is combining the biggest divisions of its investment bank
U.K. lender Lloyds Banking Group PLC has dropped U.S. investment banking giant Goldman Sachs Group Inc. from the auction of a £109 billion investment contract, a source told the Financial Times. The remaining bidders in the auction dubbed "Project Swift" are New York-based BlackRock Inc. and London-based Schroders PLC according to the report.
Korea Post, which oversees $112 billion, sought Goldman Sachs to learn more about the cryptocurrency
On the M&A
AG Mortgage Investment Trust Inc. is entering the single-family rental business with its $140 million deal to buy a stabilized portfolio of 1,225 single-family rental homes from funds affiliated with Connorex-Lucinda LLC.
A group of business development companies
In litigation
In people
In other regulatory
And during a Chicago Council on Global Affairs event, Federal Reserve Bank of Atlanta President Raphael Bostic said the central bank should keep raising interest rates to move its policy stance to a neutral level, noting that the economy is in a "very solid position" with little sign of overheating. Bostic votes on the Federal Open Market Committee this year.
In other parts of the world
Asia Pacific: Westpac weighs financial planning arm sale; Anbang taps JPMorgan for Vivat deal
Europe: Deutsche may have stalled illicit Danske money; Commerzbank falls out of DAX
Middle East & Africa: Saudi insurers end merger talks; Bahrain's Investcorp invests in Swiss lender
Now featured on S&P Global Market Intelligence
Deposit betas are catching up with loan betas at US banks: Deposit costs are poised to rise more quickly than loan yields during the remainder of 2018, threatening margin expansion for some banks.
The day ahead
Early morning futures indicators pointed to a mixed opening for the U.S. market.
In Asia, the Hang Seng fell 0.99% to 26,974.82, and the Nikkei 225 was down 0.41% to 22,487.94.
In Europe, around midday, the FTSE 100 was down 0.22% to 7,367.23, and the Euronext 100 fell 0.15% to 1,031.10.
On the macro front
The Automated Data Processing Inc.'s employment report, the jobless claims report, the productivity and costs report, the Services Purchasing Managers' Index, the factory orders report, the Institute For Supply Management's nonmanufacturing index, the Energy Information Administration's natural gas and petroleum status reports, the Fed balance sheet, and the money supply report 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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