U.S. Warns Foreign Banks They Could Face Russia Sanctions 

An executive order authorizes sanctions on foreign banks that even indirectly aid Russia's "war machine."

Sumitomo Life to Buy Singapore Insurer in S$4.6 Billion Deal 

Sumitomo Life Insurance has agreed to buy Singapore Life Holdings in a deal that will value the homegrown insurer at 4.6 billion Singapore dollars (US$3.47 billion).

In 2024, FASB to Nudge Forward Projects on Software, Compensation and Green Credits 

The Financial Accounting Standards Board expects to finalize a rule on income-statement expenses and to propose rules on derivatives and government grants, says Chairman Rich Jones.

Canada Approves Royal Bank Deal for HSBC's Canada Unit 

The deal, at $10.1 billion, marks the largest transaction ever in Canadian domestic banking.

Financial Services Roundup: Market Talk 

Find insight on real estate-secured lending, SBC, eurozone banks and more in the latest Market Talks covering the Financial Services sector.

China's Big Banks Cut Deposit Rates as Growth Plateaus 

China's biggest banks are lowering the deposit rates offered to savers, a move that could pave the way for the central bank to make interest-rate cuts to spur economic growth.

Waving a Red Flag at Bond Bulls 

The drop in long-term rates might seem excessive, but as long as investors' expectation of low inflation readings isn't proven wrong, it could continue.

Odyssey's Keizner Sees Stable Private-Equity Hiring, Pay Into 2024 

Recruiter Anthony Keizner of Odyssey Search Partners said buyout firms are still hiring despite slow fundraising, deal pace.

Wells Fargo Workers in Albuquerque Vote to Form Union, a First for a Megabank 

Workers voted 5-3 in favor of unionizing, and those in other branches have said they intend to hold votes. An Alaska branch is expected to vote Thursday.

Elon Musk tells Cathie Wood he wants to make X a 'giant brain' and financial platform 

Musk spoke in a wide-ranging, 100-minute interview with Cathie Wood, chief executive of investment-management firm ARK Invest, on X's Spaces app Thursday.

(END) Dow Jones Newswires

12-25-23 0015ET