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.

For CFOs, Unknown Tax Overhaul Adjustments Are Part of Equation

Finance chiefs are still hoping for a U.S. tax overhaul within the next 12 months, but a fragmented attention span in Congress has many making mental adjustments to when a lower tax rate would actually materialize.

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.

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Why More States Are Killing Estate Taxes

In the last three years, nine states have eliminated or lowered their estate taxes, mostly by raising exemptions. And more reductions are coming.

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.

Hong Kong Exchange Pitches New Structure to Lure More Big Fish

Hong Kong's stock-exchange operator has drawn up plans to launch a new board that could allow companies to sell shares offering greater voting power to some investors, as competition among global exchanges to attract new listings intensifies.

China's Monetary Policy Zigs Where U.S. Zags

A day after the U.S. Federal Reserve tightened monetary policy, China's central bank effectively loosened, in a move that suggests Chinese authorities are now more concerned about financial turmoil inside the country than money flowing out of it.

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.

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.

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 11:16 ET (15:16 GMT)