Dyer, Tenn.-based Dyer F & M Bancshares Inc. unit Farmers & Merchants Bank will merge into Paris, Tenn.-based Security Bank and Trust Co. Financial terms of the deal
LM Funding America sold all the issued and outstanding shares of its wholly owned subsidiary, IIU Inc., to Craven House Capital North America LLC. LM Funding America originally paid nearly $5.0 million for the purchase of insurance broker IIU in January 2019, which included a negative $720,386 net fair value of assets and about $5.7 million of goodwill. The company estimates the sale of IIU may result in a loss of about $1.5 million to $1.8 million.
A federal jury in Texas determined that Wells Fargo & Co. will have to pay $102.8 million after losing a trial against United Services Automobile Association under a patent infringement case
As part of a five-year plan, Goldman Sachs Group Inc. is looking to double its workforce in China to 600 if the country continues in its trajectory of opening up its financial markets, a source told Bloomberg News reports. Additionally, Todd Leland, co-president of Goldman's Asia-Pacific operations outside of Japan, told the news outlet in an interview that an aspect of the company's expansion into China
The U.S. District Court for the District of Delaware on Jan. 2 granted preliminary approval of the settlement
Sources told Pensions & Investments that asset managers in the U.S. will soon face greater pressure to spend on technology
JPMorgan Chase & Co.'s Nikolaos Panigirtzoglou said the recent increased activity in Bitcoin contracts
In other parts of the world
Asia-Pacific: Yes Bank OKs 100B-rupee issue; China Everbright Bank's new consumer finance unit
Europe: BoE rate cut backed; HSBC kicks off French unit sale; Wirecard chair resigns
Middle East & Africa: Lebanese central bank seeks more powers; Tunisian parliament rejects government
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US private equity deal activity slows in 2019: In total in 2019, 5,272 entries with a gross transaction value of $200.69 billion were reported, compared to 6,043 entries worth a combined $252.37 billion in 2018 — the highest deal volume and transaction value seen across a five-year period — based on available information.
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng was up 1.11% to 28,954.94
In Europe, around midday, the FTSE 100 was up 0.23% to 7,605.06, and the Euronext 100 was down 0.04% to 1,156.90.
On the macro front
The Treasury budget is 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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