Here is what you need to know.The indicator with an almost perfect record of predicting US recessions is edging towards a tipping point.The spread between 2-year and 10-year Treasury yields has tightened to 45 basis points, its flattest since late 2007.London reclaims the crown as the world's leading financial center.London topped New York as the world's leading financial center, according toDuff & Phelps'Global Regulatory Outlook report. The majority of those surveyed think London will lose the title by 2023.The CEO of Barclays is being fined for trying to unmask an anonymous whistleblower.Barclays CEO Jes Staley has been ordered to pay an undisclosed fine for his attempts to try and identify an internal bank whistleblower back in 2016.Wells Fargo nears a $1 billion settlement for loan abuses.The US Consumer Financial Protection Bureau and the Office of the Comptroller of the Currency reportedly proposed Wells Fargo to pay a $1 billion penalty to resolve probes into auto insurance and mortgage lending abuses, Reuters says.JPMorgan is testing issuing debt on the blockchain.Tests involved the National Bank of Canada, Goldman Sachs Asset Management, and Pfizer, among others, Reuters reports.Deutsche Bankreportedly sent $35 billion to an exchange by accident.The firm realized the error in a matter of minutes and rectified the problem.Qualcomm announces layoffs. As part of its effort to reduce spending by $1 billion,Qualcomm will layoff a total of 1,500 employees across its San Diego and Bay Area locations, according to WARN filings with the state of California.The Murdochs are guaranteed a huge payday once the Disney-Fox deal is finalized.The Murdoch familyRupert and sons James and Lachlanwill receive over $206 million once the Disney-Fox deal is finalized, according to a US Securities and Exchange Commission filing released Wednesday.Stock markets around the world are mixed.China's Shanghai Composite (-1.47%) trailed in Asia and Britain's FTSE (+0.35%) leads in Europe. The S&P 500 is set to open little changed near 2,691.Earnings reports keep coming. General Electric and Honeywell report ahead of the opening bell.Join the conversation about this story Click here to read full news..