News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Sen. Warren Calls for Removal of 12 Wells Fargo Directors

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Sen. Elizabeth Warren (D, Mass.) is urging the Federal Reserve to remove a dozen Wells Fargo board directors who served during the bank's sales-practices scandal, according to a letter reviewed by The Wall Street Journal.

Hedge-Fund Manager John Paulson Joins Valeant Board

Hedge-fund billionaire John Paulson has joined the board of Valeant Pharmaceuticals, a sign that the investor remains bullish on the drugmaker's prospects despite accruing steep losses on investments in the firm.

BOE Appoints Tenreyro to MPC

Silvana Tenreyro of the London School of Economics and Political Science has been appointed to the Bank of England's Monetary Policy Committee, replacing Kristin Forbes, whose term ends in June.

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Who's Behind Morgan Stanley's Bond Trading Turnaround? A Stock Guy

Under Ted Pick, Morgan Stanley's bond-trading division has booked four straight quarters of fixed-income revenue above $1 billion. But Mr. Pick is striking a cautious note as other turnarounds have shown promise only to crumble.

RBA Governor Calls Stronger Employment Growth a Positive

Australia's economy will grow a bit faster in coming years than it has recently, with a broad strengthening of the global economy giving the nation a lift, Reserve Bank of Australia Governor, Philip Lowe said.

White House Intends to Tap GOP Staffer for FDIC Chair

The White House said President Donald Trump intends to nominate James Clinger, longtime Republican congressional staffer, to chair the FDIC.

ECB: Eurozone Current-Account Surplus Shrinking As Oil Prices Recover

The eurozone's large current-account surpluses have started to shrink as oil prices recover, the European Central Bank said, wading into a debate over global trading relations that has raised tensions between Washington and Berlin.

Market Turns Upside-Down as Go-Go Tech Stocks Join Slow-Mo Funds

This month's brief technology-stock rout reveals an underside for investors of a steady 2017 rally: Shares of giant tech firms are cropping up everywhere, complicating efforts to diversify portfolios.

CFPB Chief Cordray Fires Back at GOP Lawmaker Over Wells Fargo Probe

A fight between the head of the Consumer Financial Protection Bureau and a senior Republican lawmaker escalated this week as the CFPB chief made a sharp rebuttal to a GOP report that criticized the agency's role in investigating alleged sales misconduct at Wells Fargo & Co.

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.

(END) Dow Jones Newswires

June 19, 2017 11:16 ET (15:16 GMT)