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News Highlights : Top Financial Services News of the Day

06/21/2021 | 12:16am EDT
Vivendi Agrees to Sell 10% of Universal to William Ackman 

Vivendi SE on Sunday reached an agreement for a 10% investment in Universal Music Group by William Ackman's Pershing Square Tontine Holdings, valuing the world's largest music company at about $40 billion.

CBA Sells General Insurance Arm to Hollard Group 

Commonwealth Bank of Australia has agreed to sell its Australian general insurance business to the Hollard Group, with the two companies also striking an exclusive 15-year product distribution agreement.

The New Test for Central Bankers' Cool: Booming House Prices 

With consumer prices rising sharply, central bankers are having to work hard to resist the temptation to raise interest rates. A real-estate boom could make the job even tougher.

Fed's Bullard Pencils In Rate Increase in 2022 

The Federal Reserve Bank of St. Louis President James Bullard said the economy is seeing more inflation than he and his colleagues had expected, and that could lead to a rate increase late next year.

Avalanche of Options Trades Fuels Market Pullback 

One measure of trading activity has reached its second-highest level on record.

European Union Lifts Bond-Sale Ban on Banks 

JPMorgan, Citigroup, Bank of America and Barclays are among penalized banks that are now cleared to work on future EU bond sales.

HSBC to Take $3 Billion in Losses on Sale of Troubled French Bank 

A lender controlled by private-equity firm Cerberus will buy HSBC's French retail operations for a symbolic price of one euro, in a sign of the souring fortunes of European banking.

Warburg Pincus Lands $200 Million Pension Pledge Toward $2.5 Billion Fund Pitch 

The Washington State Investment Board is backing the firm's second financial services-focused fund.

Credit Suisse Cuts Business With SoftBank and Masayoshi Son 

The Swiss lender has backed away from lending to SoftBank and its founder, according to regulatory filings and people familiar with the matter, as it tries to limit risk in the wake of the collapse of Greensill and Archegos.

BOJ Introduces Lending Facility for Climate Change 

The Japanese central bank also extended its special lending program for companies affected by the pandemic by six months to March 2022 and reaffirmed that it would keep its current easy monetary policy.

(END) Dow Jones Newswires

06-21-21 0015ET

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