A Manhattan district judge dismissed a currency-rigging lawsuit filed by retail foreign currency investors accusing 16 global banks
Goldman Sachs CEO Lloyd Blankfein and President and COO David Solomon, in an email sent to all of the company's employees, committed to have women represent 50% of the company's global talent over time. As a first step, the company is targeting to have women make up 50% of its incoming analyst class by 2021.
Wells Fargo & Co. President and CEO Timothy Sloan defended his compensation package for 2017 — which was up by 35% from 2016 — saying that the gain partly reflected the fact that he had been in the role for an entire year, Reuters reports. Sloan also told reporters after speaking to the Detroit Economic Club that most comments by Sen. Elizabeth Warren, D-Mass., are "both ill-informed and inappropriate." Warren called for his ouster in October 2017, and more recently, called the company "utterly inept" at reimbursing wronged customers.
Banc of California NA expects to record a $13.7 million specific loan loss provision in its first-quarter results, after determining that it had extended a $15 million line of credit to a borrower now believed to have made false representations.
In asset management
BlackRock, meanwhile, elected three new independent directors — William Ford, CEO of General Atlantic LLC; Margaret Johnson, executive vice president of business development at Microsoft Corp.; and Mark Wilson, CEO of Aviva Plc.
Cryptocurrency
In government and regulatory
And Rep. Bill Posey, R-Fla., introduced H.R.5288, a bill that would delay the effective date of the National Credit Union Administration's rule on risk-based capital, which is slated to take effect on Jan. 1, 2019. The bill has been referred to the House Financial Services Committee.
In other parts of the world
Asia Pacific: UBS merging Asia-Pacific units; Punjab National Bank detects more fraud
Europe: Nex, CME in preliminary takeover talks; Brexit transition deal within reach
Middle East & Africa: Saudi Arabia raises rates; Egypt's CI Capital to list shares on stock exchange
The day ahead
Early morning futures indicators pointed to a mixed opening for the U.S. market.
In Asia, the Hang Seng decreased 0.12% to 31,501.97, and the Nikkei 225 declined 0.58% to 21,676.51.
In Europe, around midday, the FTSE 100 was up 0.23% to 7,156.01, and the Euronext 100 was up 0.31% to 1,029.58.
On the macro front
The housing starts report, the industrial production report, the consumer sentiment report, the JOLTS report 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.
