News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Pimco's New Bond King Is Nothing Like Bill Gross

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Bill Gross, Daniel Ivascyn's predecessor at Pimco, was known as the "bond king." But the firm's current investment chief would rather be called just about anything else.

Private-Equity Firms Stand to Benefit From Court's Curb on SEC

A recent decision by the U.S. Supreme Court that curbed the government's enforcement powers over Wall Street could hurt efforts to penalize private-equity managers over fees that the government considers poorly disclosed to investors.

How Anbang Could Clog China's Financial Plumbing

Financial stress at Anbang, a key lender to other Chinese financial institutions, could quickly ripple through China's banking system.

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HKEX Seeks Market Input on New Board Offering Weighted Voting Rights

Hong Kong's stock-exchange operator has drawn up plans to launch a new board which could allow companies to sell shares offering greater voting power to some investors, in an attempt to attract more companies to list while sidestepping opposition from the city's financial regulator.

PBOC Makes Largest Single-Day Cash Injection in Five Months

China's central bank injected the largest amount of cash into the financial system on a single day since mid-January amid signs of growing financial stress in the world's second-largest economy.

Bank of Japan Holds Fire as It Faces Calls for Exit Strategy

The Japanese central bank governor rejected the idea that he should follow the Federal Reserve's lead and detail how the Bank of Japan might trim its assets following its decision to leave interest rates unchanged.

Lawsuit Against GE Finance Unit Over Petters' Fraud Heads to Trial

A lawsuit against General Electric Co.'s finance unit over its relationship with convicted businessman Thomas Petters, whose $40 billion empire collapsed in 2008, will move to trial as a result of a bankruptcy judge's ruling on Thursday.

CFPB Seeks Comment on Proposed Changes to Prepaid-Card Rule

The Consumer Financial Protection Bureau on Thursday began seeking public comments on proposed changes to its prepaid-card rule and its timing, weeks after the planned regulation narrowly escaped being scrapped by congressional.

Pair of Economists Say Fed Balance Sheet Could End Up Around $3 Trillion

Economists at Barclays and CME Group think the Federal Reserve's $4.5 trillion asset portfolio could shrink to $3 trillion in a few years' time, based on plans for unwinding some of those holdings that the central bank revealed Wednesday.

Flush With Cash, Top Quant Funds Stumble

Quant funds, which use sophisticated statistical models rather than human research and intuition to find attractive trades, are lagging behind more traditional investments.

(END) Dow Jones Newswires

June 16, 2017 07:16 ET (11:16 GMT)