News Highlights: Top Financial Services News of the Day

California Teachers' Pension Mulls Co-Investment Expansion  

The roughly $306.7 billion pension system could save millions of dollars in fees and incentive payments by expanding its co-investment program to a fifth of all private-equity commitments, the system’s private-equity investment leaders said in a recent public presentation to pension trustees.

 Nasdaq to Spin Out Market for Pre-IPO Shares  

The deal could help drive more transactions to Nasdaq Private Market, the exchange operator’s trading platform for shares of companies that haven’t yet had an IPO.

 UBS Profit Jumps on Wealth Management Boom  

UBS posted better-than-expected second-quarter earnings from strong client activity in the world’s buoyant markets.

 Car Owners Return to Highways, and Their Insurers Pick Up Tab for Accidents  

A pandemic-related windfall for car insurers is diminishing, as millions of vehicle owners are back on the nation’s roads again.

 GHO Capital Closes Third Healthcare Fund at Over $2.36 Billion  

The London firm collected the fund in less than four months.

 Apollo in Talks to Join Consortium for Morrisons Offer  

Apollo Global Management is in talks with SoftBank to form part of the consortium bidding for the U.K.’s Morrison Supermarkets, ruling out a rival offer.

 Financial Services Roundup: Market Talk  

The latest Market Talks covering Financial Services

 Biden to Tap Former Hill Aide for Top Treasury Post Overseeing Financial Rules  

Graham Steele, a former aide to Sen. Sherrod Brown, is a proponent of treating climate change as a systemic risk to the financial system.

 Vietnam Tells U.S. It Won't Weaken Currency to Boost Exports  

The State Bank of Vietnam has agreed to improve the flexibility of its exchange rate, part of an agreement with the U.S. Treasury to resolve tensions over Vietnam’s widening trade surplus.

 ANZ Plans Up to $1.1 Billion Share Buyback  

Australia & New Zealand Banking Group Ltd. said it plans to buy back shares worth up to $1.1 billion, starting next month.


(END) Dow Jones Newswires

July 20, 2021 11:15 ET (15:15 GMT)

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