News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Should Consider Its Own Digital Currency, Prominent Academics Say

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The time is nearly right for the U.S. central bank to launch its own version of a digital currency, according to two well-known economists.

TPG Borrows Page from Activist Playbook in Buying Etsy Stake

Etsy shares soared after private-equity firm TPG disclosed a stake in the online marketplace.

SEC Approves New York Stock Exchange 'Speed Bump' Trade Delay

U.S. regulators have given the New York Stock Exchange a green light to introduce a "speed bump" to one of its markets, a plan widely seen as an attempt to undermine upstart rival IEX Group Inc.

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Quadruple-Levered ETF? SEC Hits Pause on Its Approval of an Exotic Investment

The Securities and Exchange Commission will reconsider its initial approval of a risky, first-of-its-kind exchange-traded fund that promises four times the daily price moves of S&P 500 futures contracts, according to people familiar with the matter.

A Tightening Fed Triggers Unease in U.S. Bond Market

The U.S. bond market is sending a note of caution to the Federal Reserve, which is on track to raise interest rates in June.

H&R Block CEO Bill Cobb to Retire

Tax preparer H&R Block Inc. said Tuesday that Chief Executive Bill Cobb will retire July 31 and Chief Administrative Officer Tom Gerke will serve as his replacement on an interim basis.

Symphony Raises $63 Million From BNP Paribas, Others

Symphony Communication Services LLC, the instant-messaging software company, said it raised $63 million in additional funding from France's BNP Paribas SA as well as its existing investors.

LendingClub Taps PayPal Executive as President

LendingClub is poaching the head of PayPal's credit business to help the online lender push into new groups of borrowers and loan products.

Bond Insurer's Appetite for Puerto Rico Debt Hasn't Waned

Ambac adds to Puerto Rico bond holdings with its own rehabilitation in flux.

China Pumps $24.7 Billion Into Financial System

China's central bank made its biggest one-day cash injection into the country's fragile financial markets in nearly four months, a sign that Beijing is trying to mitigate the damage to investor confidence from its campaign to tamp down speculation fueled by excessive borrowing.

(END) Dow Jones Newswires

May 17, 2017 00:15 ET (04:15 GMT)