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Home>News Highlights: Top Financial Services News of the Day

News Highlights: Top Financial Services News of the Day

News Highlights: Top Financial Services News of the Day


 Ashish Thakkar to Leave African Banking Group He Co-Founded 

Atlas Mara co-founder Ashish Thakkar is leaving the group, and other officials are also departing, to make way for directors being installed by new shareholder Fairfax Africa.

 Hurricane Maria Packs a One-Two Punch for Insurance 

The losses in Puerto Rico as a result of Hurricane Maria may surpass the more than $50 billion caused by Harvey and Irma, proving very costly for insurers.

 Finance Chiefs Centralize to Cut Costs, Make Smarter Decisions 

Companies are opting to centralize finance functions to cut costs and be more efficient.

 U.K. Pension Funds Catch Infrastructure Bug With Airports Approach 

U.K. pension funds under pressure to improve returns without taking excessive risk are joining the global rush to buy airports, wind farms and other infrastructure.

 Citi's Lehman Settlement Closes Door on 2008 Post-Mortem 

Citigroup will hand over $1.74 billion to walk away from disputes with now-defunct Lehman Brothers, a deal that cuts short an autopsy of the banks' crisis-era derivative-trading practices.

 Regulators Disagreed Sharply on Freeing AIG of Federal Oversight 

U.S. regulators disagreed sharply about whether to remove AIG from federal oversight, including over whether Friday's vote to release the company was legal, documents released Monday show.

 Fed's Kaplan Has Open Mind On December Rate Rise 

Federal Reserve Bank of Dallas President Robert Kaplan said Monday the door remains open to raising short-term interest rates this year.

 Wells Fargo CEO to Apologize for Scandal at Hearing 

Wells Fargo Chief Executive Timothy Sloan is expected to apologize for the bank's phony-account scandal Tuesday and tell Senate lawmakers that his firm has rehired about 1,800 employees who left over shortcomings with its sales practices.

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