News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

In GE Shakeup, the Return of GE Capital

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After 36 years under Jack Welch and Jeff Immelt, the conglomerate will soon be run by two GE lifers John Flannery and Jeffrey Bornstein, who spent years working together at the once lucrative-yet-problematic GE Capital.

Investing Firm Tortoise Exploring Potential Sale

Income-investing specialist Tortoise is exploring a potential sale of a majority stake in the firm, Chief Executive Kevin Birzer said.

When a Bank Sells for One Euro, Who Gets the Euro?

It's costing Banco Santander billions to take control of rival Banco Popular, but the auction price for the failing Spanish bank's equity was just one euro. So who did Santander pay? Step forward, Spain's banking regulator.

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U.S. Lawsuit Links $2.2 Billion Deal to Malaysian 1MDB Scandal

U.S. authorities are investigating the $2.2 billion purchase of a U.S. energy company by a Middle Eastern government investment fund that was arranged by Goldman Sachs and netted one investor a $300 million windfall in less than a week, according to a government lawsuit and people familiar with the investigation.

Trump Team Proposes Broad Rethink of Financial Rulebook

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.

Trump Regulation Plan Makes for Pleasant Reading on Wall Street

The U.S. Treasury Department's report on bank regulation recommends several changes that would greatly benefit top Wall Street institutions

Online Lender SoFi Takes Step Toward Becoming a Bank

Online lender Social Finance Inc. has asked federal officials to grant the company a banking license, one of the most advanced efforts by a financial-technology startup to obtain the power to offer bank products and services in exchange for stricter regulation.

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.

James Dimon, Treasury's Mnuchin Sing Same Bank Overhaul Song

The Trump administration's proposal to rethink many of the rules governing the U.S. financial sector sounded a lot like bankers' wish lists.

Allied Irish Banks: Fresh Listing for a Fresh Start

Allied Irish Banks offers investors a good chance to ride the Irish Republic's strong economic recovery, but it comes with just one snag: a still-large chunk of bad loans left over from the hard years.

(END) Dow Jones Newswires

June 13, 2017 11:16 ET (15:16 GMT)