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News Highlights: Top Financial Services News of the Day - Monday at 4 PM ET

Citigroup Facing New Regulatory Knock on Its Living Will 

The FDIC is preparing to hand Citigroup a failing grade on its living-will plan, the latest rebuke for the megabank that has struggled to stay in the government's good graces.

Harker says air of 'uncertainty' surrounds inflation, sees just one Fed rate cut in 2024 

The chief of the Philadelphia Federal Reserve on Monday said one reduction in interest rates "would be appropriate by year's end" based on the current trajectory of inflation and the U.S. economy.

Former Chicago Fed President Charles Evans says September rate cut is possible 

Economists are divided between a first cut in September or waiting for December. Traders in derivative markets see the Fed cutting interest rates twice starting in September.

Autodesk sued by Starboard to allow for changes to board that 'misled' investors 

Activist investor Starboard Value, which currently has a $500 million stake in Autodesk Inc., said Monday that it is filing a lawsuit against the design software company in order to nominate new directors to the board, which Starboard alleges "misled" shareholders.

Singapore's Temasek to Invest A$300 Million in Australian ETF Provider Betashares 

Singapore's state-investment company Temasek is set to invest up to 300 million Australian dollars, or US$199 million, in Betashares, one of Australia's largest exchange-traded fund providers.

Midsize Companies Are Big Business for Wall Street's Megabanks 

With fewer large deals, banks including JPMorgan are earning more fees from smaller outfits.

Finnish Insurer Sampo to Buy Topdanmark For $4.7 Billion 

Sampo has agreed to buy Danish rival Topdanmark for $4.7 billion in an all-share deal, consolidating its position in the property and casualty insurance market.

ING Outlines Mid-Term Targets 

ING expects to grow its income and for its return on equity to rise in the mid-term, as the lender detailed its financial targets to 2027.

UBS Proposes Payout for Investors Slammed by Credit Suisse Greensill Funds 

UBS said it would repay investors 90% of their remaining fund stakes, but that the payments won't affect its group results or capital .

A Big Bond Rally Is Promising Help for Home Buyers 

The sharp rise in bond prices has pushed down the yield on the 10-year U.S. Treasury note, a benchmark for mortgage rates and other borrowing costs across the economy.


(END) Dow Jones Newswires

June 17, 2024 16:15 ET (20:15 GMT)

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