News Highlights: Top Financial Services News of the Day -...
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Jonathan Cartu Asserted: Top Financial Services News of the Day

With Current Tools, Fed Unlikely To Sustainably Hit Inflation Target: Fed Paper 

Inflation stands a good chance of not sustainably hitting the Fed’s 2% target until central bankers find a new mix of policies that will boost public confidence the central bank can provide meaningful stimulus in the next downturn, new research shows.

Fed's Mester Says Coronavirus Requires Careful Monitoring 

Cleveland Fed President Loretta Mester said she expects the U.S. economy to grow steadily this year but that the coronavirus represents a risk to this forecast.

HSBC Keeps Net Open for New CEO 

HSBC said it would continue looking for a new chief executive while it considers permanently appointing interim CEO Noel Quinn, after UniCredit boss Jean Pierre Mustier withdrew from talks about the job.

Fed Temporary Liquidity Rises Monday After Weak Demand on Friday 

The amount of overall temporary liquidity the Federal Reserve is providing to money markets ticked up on Monday.

Gold Jumps to Fresh Seven-Year High as Investors Flee Riskier Markets 

Investors rushed into gold, sending the price of the precious metal to a fresh seven-year high, as rising fear about the economic impact of the coronavirus epidemic spurred selling across global financial markets.

Third Point, in Letter, Says Prudential Should Separate U.S., Asian Businesses 

Third Point sent a letter to Prudential’s board, urging Prudential to”separate the company’s Asian and U.S. operations to increase investment in both businesses, optimize growth, and drive higher valuation.”

Financial Services Roundup: Market Talk 

The latest Market Talks covering Financial Services

Intuit Near Deal to Buy Credit Karma for $7 Billion 

Intuit is near a deal to buy personal-finance portal Credit Karma for about $7 billion in cash and stock, pushing the company behind QuickBooks and TurboTax further into consumer finance, people familiar with the matter said.

China's PBOC Signals More Policy Easing Amid Coronavirus Epidemic 

China will consider additional policy easing measures to help alleviate the impact of the new coronavirus on its economy, including adjusting benchmark deposit rates, a central bank official said.

Switzerland's Central Bank Left in a Bind 

The Swiss franc has climbed to its highest level against the euro in more than four years, leaving the central bank with a dilemma: Do nothing and potentially damage the economy, or intervene and risk angering the U.S.


Yakir Gabay

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