Move scrambles asset management giant’s plans to eventually replace founder Larry Fink

Lawsuit follows lengthy settlement talks between justice department and the private equity group

Saba ranked

Larry Fink is used to brickbats, but this is a serious escalation

Company deserves a better valuation than a bank but is not as attractive as payments specialists

Trump administration must avoid fuelling excessive risk-taking, says FDIC chief Martin Gruenberg

Rating agency KBRA also warns on possible rise in defaults in fast-growing sector

Slip-up risks denting confidence in FCA as it seeks to defuse criticism of its disclosure reforms

LNG industry worries it could be ‘impossible to comply’ with new regulations, hindering the bloc’s ability to import the fuel

Both countries agree to examine a UK-China Wealth Connect scheme

Executive ‘recovering well’ and will return to office by February, says oil major

Chancellor to use meetings with watchdogs to call for action

Plus CPI jitters, and measuring liquidity

Also in this newsletter: Rome’s war on scooters gains speed

Talks with banks about portfolio sale come ahead of highly anticipated New York IPO

Military regimes in the Sahel have turned to tactics including arrests to assert control over critical mineral supplies

S&P finds ramp-up of exports could add $1.3tn to American economy in next five years with capacity expected to double

Investors are still not pricing in enough risks from fallout of US-China tensions

Broker agrees $45mn settlement as part of data breach while Blackstone and KKR among those penalised by US regulator

Lawmakers tell SLB, better known as Schlumberger, to quit country or risk penalty