TOP STORIES
FED TO EASE STRESS TESTS FOR REGIONAL BANKS
The Federal Reserve will propose easing stress tests
requirements for banks with less than $250 billion in assets, a
senior official said, a major piece of good news for U.S. regional
banks.
STOCKS DOWN AS BANK SHARES FALL
U.S. stocks fell Monday, led by losses in the financial sector,
in the wake of recent central bank meetings that suggested easy
money policies were likely to continue.
CBOE HOLDINGS TO BUY BATS FOR $3.2 BILLION
The operator of the Chicago Board Options Exchange will buy Bats
Global Markets for about $3.2 billion, the latest move in a wave of
consolidation in the exchange market.
FED'S LACKER SAYS THE CASE FOR A RATE INCREASE REMAINS STRONG
Richmond Fed President Jeffrey Lacker reiterated his call for
increasing short-term interest rates, saying the central bank's
employment and inflation benchmarks point to "substantially higher"
rates.
PFIZER THROWS OUT PLAN TO SPLIT INTO TWO COMPANIES
Pfizer said it would remain a single company, deciding not to
split into one business focused on patent-protected drugs and
another on cash-rich older products.
DRAGHI SAYS EUROZONE IS WEATHERING U.K.'S BREXIT IMPACT
European Central Bank President Mario Draghi said the eurozone's
economy had so far proven resilient to Britain's vote to leave the
European Union, but he warned that economic risks remained and said
the ECB stood ready to boost its stimulus again to support
growth.
MERRILL LYNCH TO PAY $12.5 MILLION FINE FOR MINI-FLASH CRASHES
Merrill Lynch has agreed to pay a $12.5 million fine for
maintaining ineffective trading controls that led to at least 15
mini-flash crashes between late 2012 and mid-2014.
MYLAN'S EPIPEN PROFIT 60% HIGHER THAN TOLD TO CONGRESS
Mylan says that the $100 profit per two-pack of its EpiPen
injectors presented by CEO Heather Bresch to Congress last week is
actually 60% higher.
HEDGE FUND GIANT BREVAN HOWARD CUTS SOME FEES TO 0%
Brevan Howard will stop charging a management fee in its
flagship fund for new money from current investors, marking one of
the starkest signs yet of the pressure facing hedge funds.
TECH CHIEF STEFAN KNIRSCH DEPARTING AUDI BOARD
Audi said head of technical development Stefan Knirsch resigned
from the company's board effective immediately.
KASHKARI: MINNEAPOLIS FED TO SUBMIT IDEAS ON TOO-BIG-TO-FAIL TOPIC BY YEAR-END
Minneapolis Fed President Neel Kashkari said the regional bank
is on track to release its recommendations to Congress by year-end
on ways to end the problem of banks that are so big they pose a
systemic risk to the financial system.
YUM BOARD APPROVES SPINOFF PLAN, RAISES DIVIDEND 11%
Yum Brands said its board approved the planned spinoff of its
China unit, which remains on track to close at the end of next
month, as the company also raised its dividend by 11%.
TRANSCANADA TO BUY COLUMBIA PIPELINE PARTNERS
TransCanada Corp. said it had offered $848 million to buy
Columbia Pipeline Partners LP, the master limited partnership
affiliate of its newly acquired Columbia Pipeline Group Inc.
unit.
U.S. NEW-HOME SALES FELL 7.6% IN AUGUST
Sales of newly built homes pulled back in August after surging
the prior month, though the broader trend showed solid momentum in
the market for single-family houses.
IRAN PLAYS DOWN PROSPECTS OF OPEC OIL PRODUCTION DEAL
Iranian officials played down expectations for an oil-production
deal, calling an OPEC gathering in Algiers this week "consultative"
and renewing their vow to pump their output higher.
U.S. INDICTS CHINESE BUSINESSWOMAN, TRADING COMPANY FOR HELPING NORTH KOREA EVADE SANCTIONS
The Justice Department indicted a prominent Chinese
businesswoman on charges that she and her trading company helped
blacklisted North Korean companies evade U.S. sanctions and procure
raw materials, potentially for use in Pyongyang's nuclear-weapons
program.
FEDEX APPOINTS CHIEF OPERATING OFFICER
FedEx said that David J. Bronczek, chief executive of its
time-definite delivery service, will become its president and chief
operating officer starting in 2018.
DEUTSCHE SHARES DROP ON CAPITAL RAISING FEARS
Deutsche Bank shares fell sharply on investor concerns about the
German lender's capital position ahead of an anticipated legal
settlement with the U.S. Justice Department.
INVESTORS IN ISRAELI NATURAL GAS AGREE JORDAN SUPPLY DEAL
Investors in Israel's largest natural gas field have agreed with
Jordan's national power company to supply it with gas worth up to
$10 billion, in a deal that could jump-start Israeli hydrocarbon
exports.
WILLIAMS UNVEILS MORE BOARD CHANGES
Williams named two new members to its board and plans to name
two more before its annual meeting in November, a move praised by
activist investor Corvex Management, which plans to withdraw plans
for a proxy contest.
======= DOW JONES NEWSWIRES ANALYSIS AND COMMENTARIES =======
Election 2016
POLL: DEBATES WILL BE MAJOR INFLUENCE FOR A THIRD OF VOTERS
The campaigns of Donald Trump and Hillary Clinton acknowledged
the huge stakes of Monday's televised presidential debate, saying
the event could shape the opinions of a large number of
Americans.
Heard on the Street
A SYMBOLIC FREEZE AGREEMENT WON'T REVIVE OIL PRICES
An oil producers' meeting in Algeria may be surprisingly
productive but there will be little fundamental impact of a freeze
on a still-glutted market.
(END) Dow Jones Newswires
September 26, 2016 13:15 ET (17:15 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.