Amidst growing regulatory concern, PayPal Holdings Inc. is looking at backtracking its support for Facebook Inc.'s Libra
While Facebook COO Sheryl Sandberg has tentatively agreed to testify at a House Financial Services Committee hearing on Oct. 29 to answer questions about Libra, the panel does not intend on officially scheduling a hearing until CEO Mark Zuckerberg
Fidelity Investments and T. Rowe Price Group Inc. vehicles purchased a collective stake of 14.4%
Vanguard Group Inc. has been testing a new currency trading method
Goldman Sachs Group Inc.'s bets on Uber Technologies Inc., Avantor Inc., HeadHunter Group PLC and Tradeweb Markets Inc. have turned against it as the investment banking giant faces losses worth approximately $260 million, Bloomberg News reports. As of June 30, the company's own-account investments in the four companies represented about 55% of its public investment portfolio
Lobbying efforts on behalf of Mastercard Inc. and Visa Inc. by U.S. trade officials paid off as Indonesia agreed to relax its rules concerning its domestic payment network
In a news release, the California Department of Business Oversight said as long as state-chartered banks and credit unions comply with the guidance issued by the federal government on cannabis banking
Gov. Gavin Newsom signed a bill, which allows Californian counties and cities to establish public banks
Traders expect the Federal Reserve to announce another rate cut
In other parts of the world
Asia-Pacific: Bank inquiry in Australia; some LSE investors urge HKEX to raise bid
Europe: Danish banks face extra capital buffer; banks lose in Poland case; Deutsche move
Middle East & Africa: Nigeria levies 500B naira fine on 12 lenders; Abu Dhabi eyes more digital banks
Now featured on S&P Global Market Intelligence
New York community banks growing, but not as profitably as rest of US in Q2 : New York's community banks and thrifts posted loan and deposit growth that outpaced the U.S. as a whole in the second quarter, but the state's banks were not as profitable as their peers nationwide.
Headwind from mix shift to time deposits lets up : When interest rates were rising, a rotation into pricey time deposit accounts added to the funding cost pain for U.S. banks. Now, with cuts to short-term rates and an even steeper drop in intermediate-term rates, that particular headwind appears to have dissipated, and some banks say they are poised to reap the benefits of maturing certificates of deposit.
The day ahead
Early morning futures indicators pointed to a lower opening for the U.S. market.
In Asia, the Hang Seng fell 1.11% to 25,821.03, while the Nikkei 225 rose 0.32% to 21,410.20.
In Europe, around midday, the FTSE 100 was up 0.35% to 7,102.21, and the Euronext 100 increased 0.27% to 1,057.94.
On the macro front
The employment situation report, the international trade report and the Baker-Hughes Rig Count 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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