News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Goldman Makes Biggest Investment Bank Leadership Changes in Decade

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Goldman Sachs Group is making the biggest changes in a decade to the leaders atop its investment-banking division, which advises companies on mergers and capital raises.

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

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.

Fed's Bullard Says Current Fed Short-Term Target at Correct Level

Federal Reserve Bank of St. Louis President James Bullard reiterated Monday his belief that the U.S. central bank has short-term interest rates where they need to be.

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China Bank Regulator Pushes to Strengthen Loan-Collateral Checks

China's banking regulator is pushing banks to strengthen checks on collateral for loans, the latest in a series of moves by authorities to improve the transparency of lending practices.

Fed's Mester Calls for More Rate Rises

Federal Reserve Bank of Cleveland President Loretta Mester called for additional central bank rate rises and added the U.S. central bank can likely act to start shrinking the size of its massive holdings of cash and bonds later this year.

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

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

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.

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.

Why Macron's Win Is Good for Europe's Worst-Off Banks

Emmanuel Macron's victory as French president should be good news for all European banks, not just those in France, but Greek and Italian ones too.

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.

(END) Dow Jones Newswires

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