Wells Fargo Warns of Severance Costs Up to $1 Billion 

The sector has had to grapple with higher funding costs and tepid loan demand and deal-making activity.

Mastercard Raises Dividend; Board Authorizes $11 Billion Share-Repurchase Plan 

Mastercard last raised its dividend, to 57 cents, in December 2022.

RBC Fined C$7.5 Million Over Money-Laundering Lapses 

Canada's financial-intelligence agency said it has fined Royal Bank of Canada for failing to comply with the country's rules aimed at deterring money laundering.

SoftBank Corp. to Invest in Software Provider for Connected Vehicles 

The mobile unit of Japanese technology investor SoftBank Group plans to take a 51% equity stake in Cubic Telecom.

Bank of Canada Expected to Hold Rates Steady on Deteriorating Outlook 

The Bank of Canada is expected to hold its benchmark interest rate unchanged Wednesday as data show the economy slowing, unemployment rising and inflation cooling.

SEC's Chief Accountant on What Worries Him 

Paul Munter talks about the assessment of risks by auditors, firm culture and the importance of cash-flow statements.

Binance Copped a $4 Billion Plea but Is Still Fighting the SEC 

Prosecutors and the Treasury Department had more leverage to get a settlement with the cryptocurrency exchange.

Tight monetary policy, economic headwinds fuel negative outlook on banks from Moody's 

Higher cost of capital will cause profitability gains to slow down while impacting loan growth. Banks are expected to build up reserves to shore up their balance sheets in an economic slowdown.

Financial Services Roundup: Market Talk 

Find insight on Disney and Nelson Peltz, Canada's big banks, Wells Fargo, Barclays and more in the latest Market Talks covering the Financial Services sector.

The New Green Investment: Getting Clean Energy to Big Cities 

EnergyRe, a startup backed by real-estate executives, raises $1.2 billion for transmission lines to carry renewable electricity to urban areas.

(END) Dow Jones Newswires

12-06-23 0015ET