News Highlights: Top Financial Services News of the Day
AmEx Suspends a Director in Foreign-Exchange Pricing Probe
American Express suspended a director in its foreign-exchange department as part of its investigation into pricing practices in the division.
MetLife CEO Steven Kandarian to Retire in April
MetLife President and Chief Executive Steven Kandarian is turning over the reins of the nation's second-biggest life insurer to a top lieutenant, Michel Khalaf, as he sets April 30 for his delayed retirement.
Pledges Made by Italy's Populist Government Come Up Against Economic Reality
Italy's government has offered to shore up an ailing bank with public money, in a sharp U-turn after attacking mainstream politicians for years for bailing out Italian banks with taxpayers' money.
Barclays's Badly Timed Activist Might Be Good For its Board
It may be the wrong time for anything radical at Barclays, but a board seat might still be the right place for activist Edward Bramson.
Cleveland Fed's Mester Expects Higher Rates, But Sees No Urgency
Cleveland Fed President Loretta Mester said the central bank has more flexibility in how it paces future rate increases because inflation appears to be restrained, economic growth is decelerating, and interest rates have moved closer to a neutral setting designed to neither spur nor slow growth.
Fed's Bostic Projects One Rate Increase in 2019
Atlanta Fed President Raphael Bostic said the central bank should raise interest rates just once this year, but he didn't say when and added he would keep an open mind about whether more or fewer moves might be needed.
Nellie Liang Withdraws From Consideration for Fed Board Seat
The White House said Monday that former Federal Reserve economist Nellie Liang, whom the Trump administration had nominated to serve on the central bank's board of governors, has withdrawn from consideration.
Wells Fargo Adds Manufacturing Executive to Board
Wells Fargo & Co. has added a manufacturing executive to its board, which has faced criticism for a series of scandals that has drawn regulatory scrutiny to the bank.
HSH Nordbank Bondholders Sue for EUR1.4 Billion
A group of bondholders are suing shipping lender HSH Nordbank AG in Germany over financial maneuvers they say cost them EUR1.4 billion while delivering a windfall to private-equity investors.
Activist Bramson Seeks Shareholder Vote to Shake Up Barclays Board
Barclays' second largest shareholder, Sherborne Investors, said it wants to shake up the bank's board through a shareholder vote after its request for a board seat was rebuffed.