Spanish Lenders BBVA, Sabadell Abandon Merger Talks

Banco Bilbao Vizcaya Argentaria, Spain's second-largest lender by assets, and smaller peer Banco de Sabadell ended their merger talks because of disagreements over pricing, underlining that consolidation in Europe's banking system remains complicated. 


 
Sabadell Talks with BBVA End

Banco Sabadell said it would prioritize the Spanish market as part of a new plan aimed at increasing profitability and creating value, after talks over a potential merger with BBVA came to an abrupt end. 


 
German Prosecutors Examine Ernst & Young's Role in Wirecard Collapse

German prosecutors said they are examining Ernst & Young's role in the collapse of disgraced payments operator Wirecard, ratcheting up pressure on the audit firm. 


 
Outside Monitors Urge Deutsche Bank to Quit Russia

Monitors appointed by New York state's Department of Financial Services told the German lender it should drop plans to expand in Russia. 


 
Aviva Cautious on Outlook, Cuts Dividend

Aviva posted resilient nine-months results, with new business sales up 40%, but gave a cautious outlook and announced a new dividend policy that will see its payout cut. 


 
Fed Signals New Guidance Coming on Asset-Purchase Program

Officials this month discussed plans to provide more information about how long they will keep purchasing Treasury and mortgage-backed securities by linking the time frame for the stimulus program to economic conditions. 


 
Justice Department Clears Intuit to Buy Credit Karma

Antitrust officials cleared Credit Karma's pending $7.1 billion sale to TurboTax maker Intuit after the two companies agreed to divest Credit Karma's burgeoning tax-preparation business. 


 
Investcorp's Rishi Kapoor Sees Promise in Private Equity's Main Street Push

Rishi Kapoor, the co-chief executive officer at the $33.3 billion global asset management firm Investcorp Holdings BSC, recently spoke to WSJ Pro Private Equity's Preeti Singh about how his firm is betting private equity's Main Street push ultimately will pay off. Responses have been edited for clarity. 


 
Dow's Milestone Heralds Broader Stock Rally

The index's ascent to 30000 signals more companies are beginning to participate in the new bull market, offering hope to investors who have long waited for the rally to widen. 


 
Bank of Korea Raises Growth Forecast, Holds Rate

South Korea's central bank raised its growth forecast slightly for this year and kept its policy rate unchanged at a record low of 0.50%, as widely expected.

(END) Dow Jones Newswires

11-27-20 0715ET