News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Wells Fargo Sweetens Broker Recruitment Bonuses

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Wells Fargo & Co. is sweetening its signing bonuses for veteran brokers, a move to capitalize on Morgan Stanley's and Merrill Lynch's retreat from the industry's costly recruiting practice known as "prisoner exchange."

Tighter Global Banking Rules Tilt Against Europe's Lenders

Long battle over update to Basel capital rules is finishing closer to U.S. demands.

Canada's Banks Can't Dodge Housing Risks Forever

Risks to Canadian banks from the country's housing bubble should not be overstated, but are very real.

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Royal Bank of Canada's Earnings Rise

Royal Bank of Canada's sales and profit topped expectations in the first quarter, led by gains in fee-based businesses.

Toronto-Dominion Bank's Earnings Jump 22%

TD Bank said earnings for its latest quarter jumped 22%, boosted by volume growth in its Canadian retail business.

CIBC Hauls In Stronger Profit

Canadian Imperial Bank of Commerce reported a stronger profit in its latest quarter as lowering its provision for credit losses helped its bottom line.

BlackRock, Vanguard Mull Pressuring Exxon to Disclose Climate Risks

Two of the world's largest asset managers are strongly considering a public rebuke to Exxon Mobil over climate change at the company's annual meeting next week.

China Takes Aim at Moody's After Rating Downgrade

Moody's is facing a backlash in China against its decision to cut the country's credit rating, a move that has come just as foreign ratings firms are set to receive greater access than ever to the world's No.2 economy.

A Quant Program Is the Reason You Just Bought That ETF

At the exact moment a mom-and-pop investor considers buying bank stocks, an ad pops up on their desktop promoting a financials-focused fund. Beyond investing, firms also are using computer programs to woo retail investors.

Wall Street's Endangered Species: The Ivy League Jock

For decades, banks and brokers stocked trading floors with collegiate athletes. These days, the ex-jocks are getting sidelined by machines; 'It's all going electronic.'

(END) Dow Jones Newswires

May 25, 2017 16:15 ET (20:15 GMT)