News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

RBA Remains Upbeat on Australian Growth Outlook

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Australia's central bank remains confident growth in the resource-rich economy will accelerate over coming years, shrugging off a weak first quarter result which saw the economy expand at its slowest pace since 2009.

Sen. Warren Calls for Removal of 12 Wells Fargo Directors

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

Investors want 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.

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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.

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.

Vice Media Secures $450 Million Investment From TPG

Vice Media has secured a $450 million investment from private-equity firm TPG, as the youth-focused digital media company looks to step up its spending on scripted programming and plans a direct-to-consumer service.

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.

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.

Insurer Reverses ACA Exit Plan in One of Two Washington State Counties

Washington state will have an insurer offering Affordable Care Act plans next year in one of two counties that earlier appeared poised to have no coverage through the health law's online marketplace.

(END) Dow Jones Newswires

June 20, 2017 00:16 ET (04:16 GMT)