News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

J.P. Morgan Trading Down 15% From Year Ago

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J.P. Morgan Chase & Co. finance chief Marianne Lake said the bank's trading so far is down about 15% year-over-year though she won't forecast for the coming quarter.

Mobile Wallet Paytm Hits Pay Dirt Amid India's Cash Crackdown

The mobile-payments app Paytm has become India's second-most-valuable startup as the country's crackdown on cash over the past year has left citizens and merchants searching for cashless payment alternatives.

ECB, Athens Clash Over Including Greek Debt in Eurozone QE

Greece's finance minister Euclid Tsakalatos clashed with a top European Central Bank official on Wednesday over the nation's potential inclusion in the ECB's massive bond-purchase program

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ECB Should Prepare to Reduce Dose of Monetary 'Medicine'

It is time to prepare for the end of very aggressive monetary policy, a key eurozone central banker said, in a vote of confidence in the bloc's economic prospects.

BNY Forms Government Securities Unit

Bank of New York said it has formed a new unit to support its growing role in settling trades in the nearly $14 trillion Treasury market.

Big Pension Funds Oppose Election of Six Mylan Directors

A group of institutional investors unhappy over high executive pay at Mylan NV are taking aim at six board members at the EpiPen maker.

Wells Fargo Reinstates Three Executives at Chicago Wealth Branch

Wells Fargo is reinstating three senior executives in Chicago who were suspended amid allegations they inappropriately steered business toward certain individuals in its private-banking unit, after an internal investigation found no disciplinary action was warranted.

Federal Reserve Fines Deutsche Bank $41 Million

The Federal Reserve fined Deutsche Bank AG $41 million for "unsafe and unsound" anti-money-laundering practices on Tuesday, the latest in a series of fines for the lender.

Blackstone Invests in Energy Analytics Firm

Blackstone Group is buying a stake in Entic Inc., a company that uses cloud-based data analytics to identify areas of energy waste in building heat, ventilation, air-conditioning and other systems.

EU Plan May Revive Asset-Backed Securities Market

The European Union has agreed on new measures to revive the region's asset backed securities market while imposing rules on the industry to minimize risk-taking.

(END) Dow Jones Newswires

May 31, 2017 11:15 ET (15:15 GMT)