News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Trump Team Proposes Broad Rethink of Financial Rulebook

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The Trump administration proposed a wide-ranging rethink of the rules governing the U.S. financial sector in a report that makes scores of recommendations that have been on the banking industry's wish list for years.

Mnuchin Urges Congress to Lift Debt Ceiling Before August Recess

Treasury Secretary Steven Mnuchin said Monday the Treasury can fund the government through "the beginning of September" and urged lawmakers to raise the government's federal borrowing limit before they leave for their summer recess.

U.S. Budget Deficit Widens

The U.S. budget deficit widened through the first eight months of the fiscal year, highlighting challenges for the Trump administration as it looks to cut taxes and rebalance spending prioriti

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High Court Ruling Could Speed Competition in Biosimilars Market

The Supreme Court on Monday issued a ruling that could allow cheaper, copycat versions of biotechnology drugs to be sold more quickly.

Bank of Canada to Assess Whether 'Considerable' Stimulus Still Required

Canadian growth is broadening across industries and regions, and policy makers will assess whether ultralow interest rates are still required should the trend continue, the Bank of Canada's second-highest ranking official said Monday.

Money Fund Rollback Gains Traction

Bipartisan support is growing for a bill that would roll back money-market fund reform. Eight representatives signed on as co-sponsors of the Consumer Financial Choice and Capital Markets Protection Act last week, according to the Library of Congress' website, Although similarly named, the bill is different from the Financial Choice Act, which aims to roll back many of the provisions of the Dodd-Frank Act.

One More Reason for the Productivity Slowdown? Credit Conditions

The postcrisis credit shortage put a serious crimp on global productivity growth, new research suggests.

Stocks Fall; Tech Shares Take Brunt

U.S. stocks were led lower Monday by the technology shares that had been driving this year's stock-market gains.

Oil Ticks Higher After Challenging Week

Crude prices rose for a second consecutive session Monday amid a supply disruption in Nigeria and as major producers said their deal to cut output is working.

U.K. Drifts Away From Europe's Recovery

The U.K. wants to separate from Europe. Judging by economic and political outcomes, it looks like it is getting its wish.

(END) Dow Jones Newswires

June 12, 2017 21:15 ET (01:15 GMT)