News Highlights: Top Financial Services News of the Day

05/05/2021 | 12:16am
Yellen Says She Isn't Predicting Higher Interest Rates 

Treasury Secretary walks backs comments she made earlier suggesting that rates might rise.

Fed's Daly: It Isn't Time for Fed to Pare Back Stimulus 

Federal Reserve Bank of San Francisco President Mary Daly said Tuesday that while the outlook for the economy is positive, it isn't time for the U.S. central bank to pull back on the strong levels of monetary policy stimulus it is currently providing the economy

CME Group to Close Most of Its Trading Pits in Chicago 

Floor trading for agricultural commodities has existed in the Midwest hub since the middle of the 19th century.

Bank of America Tech Executives See Promise in 5G, 3-D Printing 

Cathy Bessant, Bank of America's chief operations and technology officer, thinks the bank may one day tap 3-D printing capabilities: 'That technology is much more important than the average person thinks it is.'

Veritas Capital Raises a $1.8 Billion Midmarket Fund 

Veritas Capital, a private-equity firm focused on investments in companies at the intersection of technology and government, has closed its first stand-alone midmarket-focused fund, collecting some $1.8 billion.

Ripple Names New CFO as Cryptocurrency Firm Faces SEC Lawsuit 

The cryptocurrency startup has named Kristina Campbell as chief financial officer.

RBNZ Highlights Housing Risks in Financial Stability Review 

The Reserve Bank of New Zealand said it could further tighten loan-to-value restrictions for home mortgages if needed, or use other tools it is developing, as part of a new requirement to contribute to more "sustainable" house prices.

ANZ's Interim Profit Surges 90% 

Australia and New Zealand Banking Group Ltd. said its interim profit rose by 90%, boosted in part by strong home lending and an improved economic outlook.

MoneyGram's Compliance Program Gets Thumbs-Up After Overhauls 

An independent monitor has signed off on the money-transfer company's anti-money-laundering safeguards, the first step toward concluding a long-running settlement deal with the Justice Department.

KKR Swings to a Profit 

Private-equity firm KKR posted a profit in the latest quarter as it reported positive investment income and revenue.

(END) Dow Jones Newswires

05-05-21 0015ET

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