News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

AmTrust to Sell Most of Stake in National General Holdings for $211.7 Million

Continue Reading Below

AmTrust Financial Services Inc. said Friday it would sell most of its stake in fellow insurer National General Holdings Corp. for about $211.7 million.

Deutsche Bank Declines to Disclose Trump's Account Information

Deutsche Bank told U.S. Democratic lawmakers the German lender can't disclose details requested about its banking relationship with President Donald Trump, citing customer privacy rules.

Hedge Funds Jump on Sterling's Slide

Hedge funds seized on opportunities to profit Friday in the immediate aftermath of the U.K.'s election turmoil and a slump in the value of the pound.

Continue Reading Below

China Market Regulator Steps Up IPO Rejections

China's securities watchdog, which has vowed to prevent fraudulent stock listings, is rejecting a far larger portion of initial public offerings this year; as of May 19 the approval rate was 73%, down from 92% in 2016.

How Low Has the Dollar Sunk? Even Some Rappers Prefer Euros

As hip-hop becomes increasingly global, more artists are snubbing 'Benjamins' to rhapsodize about foreign bills. 'Purple yen and blue dirham'

Fiduciary Rule Is Now (Partially) in Effect

When President Donald Trump took office, many in the financial industry were confident that a looming retirement-savings rule they had opposed for years would soon be dead. To their dismay, the core principle of the rule was implemented Friday.

Berkshire Unit Settles With California Regulator Over Workers Comp Insurance

A unit of Berkshire Hathaway will be able to sell a revised version of its controversial workers' compensation insurance policies in California following a settlement with the state's top insurance regulator.

A Dimon Heir Will Leave J.P. Morgan

J.P. Morgan said Matthew Zames, its chief operating officer who was once seen as a possible successor to CEO James Dimon, is leaving the bank.

Goldman Sachs Joins Bond ETF Party

Goldman Sachs Group launched an exchange-traded fund Thursday that gives investors a cheap way to invest in corporate bonds.

Private-Equity Funds Place Multibillion-Dollar Bets on Asia

Morgan Stanley and Hong Kong-based All-Stars Investment are separately planning to raise billions of dollars to invest in Asian companies, in a sign of how the region is becoming a hotter draw for global money.

(END) Dow Jones Newswires

June 09, 2017 11:15 ET (15:15 GMT)