News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bank of America Pays Peanuts for Deposits, but the Money Keeps Flowing In

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Even after the Fed raised rates, BofA has continued to pay depositors next to nothing. Its ability to do so and not lose business highlights the built-in advantages of big banks and changing consumer attitudes.

Buffett Isn't Retiring, but Some of His Lieutenants Are

Warren Buffett is quietly installing a new set of leaders throughout Berkshire Hathaway.

Macron's Win in France Offers a Reprieve for Europe's Single Currency

While Marine Le Pen never offered a plausible path out of the euro and the EU, her critique of both was sound. Emmanuel Macron, the apparent winner of the French election, now has five years to prove her wrong, writes Greg Ip.

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China Forex Reserves Swell to $3.03 Trillion, Beating Forecasts

China's foreign-currency hoard rose for the third straight month in April, thanks to the yuan's recent stability against the dollar, central-bank data showed.

As IPOs Pick Up, Big Startups Hold Out

The market for IPOs is rebounding, but high-profile startups like Uber and Airbnb are hanging back amid concerns their companies would be valued at less than private fundraising rounds.

China Insurance Watchdog Intends to Strengthen Oversight

China's insurance watchdog vowed to tighten regulations and reduce loopholes, part of Beijing's effort to strengthen supervision of the industry amid growing concerns over lax oversight.

Trump's Fiscal Plans, Fed's Asset Unwinding Could Fuel Rate Rise

Two of the most powerful economic forces in Washington could be aligning in coming years to put considerable upward pressure on long-term interest rates.

Goldman's Blankfein Warns on Brexit Risks to London

London's expansion as a financial center could "stall" and banks may need to consider moving staff out of the city because of Brexit, the Goldman Sachs CEO warned.

Virtu CEO Aims to Be the Good Guy of High-Speed Trading

High-frequency trading firms are often cast as villains. Virtu Financial Chief Executive Douglas Cifu is determined to be seen as one of the good guys.

Fannie Mae to Send $2.8 Billion Dividend to Treasury

Fannie Mae said it would send a $2.8 billion dividend payment to the U.S. Treasury in June as the company's delinquency rate continued to fall amid increasing home prices.

(END) Dow Jones Newswires

May 08, 2017 07:15 ET (11:15 GMT)