News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Raises Rates, Sets Out Plan to Shrink Asset Holdings Beginning This Year

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The Federal Reserve said it would raise short-term interest rates and spelled out in greater detail its plans to start slowly shrinking its $4.5 trillion portfolio of bonds and other assets this year.

York Capital Names Two Eventual Successors for Founder Jamie Dinan

Jamie Dinan has named two successors to lead his hedge-fund firm York Capital Management in the future.

IBM Launches Watson for Financial Regulation

IBM on Wednesday formally launched a Watson product for financial regulation, rolling out artificial-intelligence tools to help financial institutions comply with rules and detect possible financial crimes.

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Investors Love European Stocks-Now They Love the Euro Too

Once, investors who wanted to bet on Europe's stocks and bonds often did so while hedging against sharp changes in the euro-a sign they weren't confident about the currency. But that appears to have changed this year.

Bank of Japan Seeks to Learn From Fed's Taper Tantrum

The Bank of Japan is taking baby steps toward detailing its exit strategy despite the continuing gulf between consumer prices that are barely rising and an inflation target of 2%.

Determining When Rate Rises Are 'Well Under Way' Key to Balance-Sheet Moves

The Federal Reserve on Wednesday could flesh out when it will be appropriate to start reducing its balance sheet, a move officials have said they won't undertake until the process of raising interest rates is "well under way."

Once-Highflying Anbang Chief Isn't Able to Do His Job

Anbang Insurance said Chairman and Chief Executive Wu Xiaohui handed over his duties for personal reasons, hours after a media report said he could be in trouble with the Chinese government.

Trump Administration's Bank Plan Heralds End of Crisis Era

The Trump administration's new plan for bank oversight is raising industry expectations that a postcrisis era of increased regulation is over.

In GE Shakeup, the Return of GE Capital

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.

Treasury Plans Additional Reports on Financial Oversight

The Treasury Department isn't done studying oversight of the financial industry, said Craig Phillips, the counselor to Treasury Secretary Steven Mnuchin.

(END) Dow Jones Newswires

June 14, 2017 16:15 ET (20:15 GMT)