News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Wells Fargo Reshuffles Regional Executives in Retail Banking Unit

Continue Reading Below

Wells Fargo again shuffled the ranks in its retail-banking unit, continuing efforts to untangle the firm from the sales-practices scandal that erupted last year.

Bats to Stop Paying Rebates on One of Its Stock Exchanges

Bats is simplifying fees for one of its stock exchanges, charging the same rate to traders who post orders and traders who remove them-part of a broader shake-up in the pricing models used by U.S. exchanges.

Two Fed Banks Wanted Higher Discount Rate Ahead of May Meeting

All but two of the Federal Reserve's 12 regional banks wanted to maintain the interest rate on discount-window loans ahead of the Fed's May 2-3 policy meeting, according to minutes published Tuesday.

Continue Reading Below

Goldman Sachs Under Fire After Buying Venezuela Bonds

Goldman Sachs is on the defensive in Venezuela after it bought bonds that had been held by the struggling country's central bank in a transaction the opposition decried as a lifeline to President Nicolás Maduro's administration.

LSE to Buy Citigroup's Analytics, Fixed-Income Index Operations

London Stock Exchange agreed to buy a portfolio of fixed-income indexes and related analytics services from Citigroup for $685 million, the U.K. exchange operator's latest bet on the growth of passive investing.

Scotiabank Posts Lower Trading Revenue

Bank of Nova Scotia said profit rose in its latest quarter as a decline in expenses helped offset lower revenue from stock trading.

Singapore Fines Credit Suisse Over 1MDB

Singapore imposed fines on Swiss bank Credit Suisse and a local bank for antimoney-laundering control failures connected with an investigation into alleged misappropriation from Malaysian state fund 1MDB.

Fed Likely to Raise Rates in June, Spell Out Asset-Sale Plan

Federal Reserve officials are likely to raise short-term interest rates at their meeting in two weeks and announce their framework for shrinking a $4.5 trillion portfolio of bonds and other assets later this year.

Steven Cohen's Hedge-Fund Comeback Shoots for a Record Target: $20 Billion

Steven Cohen, the billionaire trader whose former firm pleaded guilty to criminal insider-trading charges less than four years ago, is plotting a return to hedge funds with a giant number in mind: $20 billion.

The $50 Billion Question: What Makes a Bank Big?

As Congress looks to overhaul the Dodd-Frank Act of 2010, a rare point of bipartisan agreement is that $50 billion in assets isn't the right line between big banks and small. So where should the boundary be?

(END) Dow Jones Newswires

May 30, 2017 16:15 ET (20:15 GMT)