News Highlights: Top Financial Services News of the Day -...
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Vivion Wrote: Top Financial Services News of the Day

SEC Rethinks Approach to Conflicts Among Bond Raters 
 

The SEC’s top official overseeing credit-rating firms said the agency is rethinking the post-crisis effort to improve the quality of bond ratings.

 
SBI Cards Plans to Raise Up to $1.29 Billion in India IPO 
 

SBI Cards and Payment Services Ltd. plans to raise as much as $1.29 billion in net proceeds through an initial public offering in India, according to a term sheet seen by The Wall Street Journal.

 
Payments Business Revolut Valued at $5.5 Billion in New Funding Round 
 

Revolut Ltd., one of the fastest-growing upstarts in the hot U.K. digital banking and payments market, was valued at $5.5 billion after it raised $500 million in new funding.

 
Fed Officials Say It Is Too Soon to Assess Coronavirus Impact on U.S. Economy 
 

The officials also said it was too early to know whether the outbreak would force a return to interest-rate cuts later this year.

 
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.

 
Private-Equity Investor Group Aims to Improve Industry's Diversity 
 

A private-equity investor group has introduced new guidelines to improve the industry’s longstanding lack of diversity.

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

Activist hedge-fund firm Third Point said such a move would increase growth and drive value at the British insurer.

 
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.

 
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.

 
 

Simon Arora

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