News Highlights: Top Financial Services News of the Day

10/19/2020 | 07:16am
European Banks Await Green Light for Cash Dividend Payments 

The chief executives of some of Europe's biggest banks are hoping regulators will soon let them resume cash dividend payments, easing pressure on their flagging share prices.

Runaway ETNs Trap Traders in 'Wild West' 

A number of high-profile implosions have sapped investor demand for the products, spurring a wave ETN of closures by the banks that issue them.

The Dodo Is Getting Into Pet Insurance 

Group Nine Media, owner of the Dodo animal-video brand, has taken a stake in Petplan, the animal insurer. The venture will be rebranded as 'Fetch by The Dodo' next year.

Hong Kong's Exchange to Hold Hearing on Ant IPO After Green Light From Chinese Regulator 

The Stock Exchange of Hong Kong will hold a listing hearing Monday to determine whether Ant Group can proceed with its planned initial public offering in the city, people familiar with the matter said, after the financial technology giant received a notice from the China Securities Regulatory Commission.

Glynn's Take: RBA Set to Remind Markets of Its Firepower 

Markets will adapt quickly to the expanded world of alternative monetary policy, but traders, investors and economists alike will return quickly with bowl in hand outstretched, asking the RBA to do more.

Julius Baer Warns of Goodwill Impairment Hit 

Julius Baer said its 2020 results will be impacted by goodwill impairments totaling CHF190 million related to its Italian asset and wealth management company Kairos.

CICC Poised to Raise $1.97 Billion in Shanghai Listing 

The A-share listing of CICC, a leading brokerage and investment bank in China, comes as the country further opens up its financial markets to foreign firms, which could ratchet up pressure on domestic players.

American Equity Chooses Brookfield Deal Over Takeover Offer 

American Equity Investment Life Holding rejected a takeover offer by Massachusetts Mutual Life Insurance and Athene Holding and said it reached a partnership with Brookfield Asset Management.

SPACs Could Be a Bubble That Never Quite Pops 

Special Purpose Acquisition Companies are seeing a golden era that will fade as speculative appetite does, but they are unlikely to fade away entirely-they are too useful to everyone involved.

LLR Collects $1.8 Billion to Invest in Lower Midmarket Businesses 

Philadelphia-based LLR closed on the capital late last week, after kicking off fundraising for the new vehicle, LLR Equity Partners VI LP, in early March, said Mitchell Hollin, a partner at LLR.

(END) Dow Jones Newswires

10-19-20 0715ET

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