Dow Jones Top Financial Services Headlines at 4 PM ET: Stablecoins Fall Short as Cornerstone of Monetary System, Central Banks Say | Prediction ...

Stablecoins Fall Short as Cornerstone of Monetary System, Central Banks Say

Crypto assets shouldn't be the mainstay of the future monetary system, a group representing the world's top central banks said.

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Prediction Market Kalshi Hits $2 Billion Valuation in New Funding Round

The $185 million round will help the trading startup integrate with more brokers, CEO said.

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Global Dealmaking at 20-Year Low as Uncertainty Abounds

The worldwide tally of mergers, acquisitions, divestitures, financings and joint ventures so far in 2025 was down 16% year-over-year, according to Mergermarket.

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HDB Financial Starts Taking Orders for Nearly $1.5 Billion IPO

One of India's largest non-banking financial companies has begun testing investor appetite for its nearly $1.5 billion initial public offering, amid a renewed risk-on sentiment in global equity markets.

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The Big Loser From the 'Genius Act' Is $156 Billion Crypto Giant Tether

A bill laying out rules for stablecoins would force issuers like Tether to be audited and end risky practices.

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Banca Monte Dei Paschi Gets ECB Approval for Mediobanca Bid

The European Central Bank has given the green light to MDP's direct acquisition of a controlling shareholding in investment bank Mediobanca.

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Former Swiss National Bank Chair Named Adviser for Asset Manager Muzinich & Co

The appointment comes after Thomas Jordan left Switzerland's central bank last year. The company aims to combine in-house policy insight with credit expertise.

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Financial Services Roundup: Market Talk

Find insight on BBVA, Deutsche Bank and more in the latest Market Talks covering financial services.

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Spain Blocks Legal Merger of BBVA and Sabadell for Up to Five Years

The Spanish government said it would approve BBVA's hostile takeover of Banco de Sabadell on condition that the banks temporarily be managed independently and kept legally separate.

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These Small Conservative Law Firms Are Raking In Business

Trump ties help power some small firms' ascent as larger competitors come under fire.

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Xero to Buy Melio for Initial $2.5 Billion in U.S. Growth Play

The Australia-listed accounting-software provider Xero will partly fund the largest acquisition in its 19-year history with a $1.2 billion institutional placement.

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Big Banks, Worried About Being Trump's Next Target, Race to Appease Republicans

Texas and Oklahoma have banned some banks from state contracts, saying they discriminate against the gun and fossil-fuel industries.