News Highlights: Top Financial Services News of the Day

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03/08/2018 | 06:15 am
Charles Scharf

Cigna Nears Deal to Buy Express Scripts

Health insurer Cigna Corp. is nearing a deal to buy Express Scripts Holding Co., according to people familiar with the matter. The deal could be announced as soon as Thursday.

Asian Bond Trading Gets a Push From BlackRock

BlackRock and bond-trading platform operator MarketAxess are expanding a nearly five-year partnership in electronic trading to Asia.

Trump Set to Sign Tariffs Decree Amid GOP Lawmakers' Dissent

President Donald Trump is expected to sign a decree this week laying out his plan to impose new tariffs on steel and aluminum, sparing both Canada and Mexico, after people on both sides of the issue made final pleas.

Fresh Evidence of Flaring Wage Growth Appeared in Fed's Beige Book

Employers across the U.S. said wage growth picked up since the beginning of the year, according to a Federal Reserve report released Wednesday, signaling the tight labor market may be forcing employers to beef up paychecks to compete for workers.

Reports of Problems at Crypto Exchange Send Bitcoin Tumbling

Prices for bitcoin and other cryptocurrencies fell sharply on Wednesday after reports emerged about a major bitcoin exchange having problems executing orders.

SEC Warns Investors on Cryptocurrency Exchanges

The Securities and Exchange Commission warned that cryptocurrency exchanges risk operating illegally because they don't disclose how they prioritize investors' orders or pick tokens that trade on their markets.

Otting Is Recused From Making Decisions on Five Banks

Comptroller of the Currency Joseph Otting will "have to step out of the room" when regulators make decisions on five banks to which he has ties.

Berkshire Unit Ordered to Pay Millions for Asbestos-Related Settlement

Berkshire Hathaway's National Indemnity has to pay more than $68 million of Montana's asbestos-related settlement costs, a state judge has ruled.

KPMG Acts Globally but Keeps Scandals Local

The Big Four accounting firms promote themselves as unified entities, each with one global brand. That implies common leadership and one standard of quality. But how they are organized tells a different story.

Charles Scharf Has Chance to Be the Best Leader at This Bank Since Alexander Hamilton

Charles Scharf, who joined BNY Mellon in July, has laid off staff, consolidated office space and overhauled executive pay as part of broad overhaul. His challenge is to kick-start the bank that has been mired by slow growth and price wars.

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