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.

Citigroup's Plan to Revive Its Lagging Stock

It is time for Michael Corbat to change the narrative at Citigroup. Investors and even top executives at the bank say it is time for Mr. Corbat to shift to offense by boosting growth in areas like credit cards, Wall Street stock trading and retail banking.

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.

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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.

Financial Stocks Are Bucking the Yield Curve Signal

Financial stocks are getting their groove back -- and they're doing it without help from the bond market. S&P 500 financials are up 5.6% this month, on pace to be the best performer among the benchmark's 11 sectors.

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.

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.

(END) Dow Jones Newswires

June 19, 2017 16:16 ET (20:16 GMT)