News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed's Bullard Says Markets Have More Dovish View on Rate Path

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Federal Reserve Bank of St. Louis President James Bullard, a deep skeptic of the need to raise rates, reiterated that the central bank and financial markets aren't on the same page when it comes to the outlook for interest rates.

Wells Fargo Sweetens Broker Recruitment Bonuses

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.

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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.

GOP Congressman Issues Plan to Renew Flood-Insurance Program

Legislation put forward by a Republican congressman would renew the National Flood Insurance Program for five years and allow for the creation of a private market to sell policies.

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.

(END) Dow Jones Newswires

May 26, 2017 00:15 ET (04:15 GMT)