News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Brexit Could Cost Banks EUR15 Billion

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Banks in the U.K. could be on the hook for EUR15 billion in costs to relocate certain activities to Europe after Brexit, according to a study by a finance trade group-a tab that could weigh on bank profits for years and ultimately hit European Union consumers.

European Central Banks Face Added Political Constraints

Institutional rules, political currents and mixed economic signals are making it challenging for central banks to tighten monetary policy.

ECB Hasn't Yet Done Enough to Create Sustained Recovery, Says Mersch

The European Central Bank hasn't yet done enough to create a sustained economic recovery in the eurozone, Yves Mersch, a top ECB official, said.

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Why You Won't Be Buying a Coffee With Bitcoin Anytime Soon

The cost of buying or selling the digital currency recently hit an all-time high, making day-to-day transactions like buying a cup of coffee impractical.

Dollar Gets Squeezed From All Sides

The dollar is down 5.6% this year, its worst two-quarter decline since 2011, as investors see economic recoveries around the world gaining on or surpassing growth in the U.S.

ECB's Weidmann: Eurozone Growth Strong, But Inflation Volatile

The ECB should look past volatile inflation data as it considers winding down its monetary stimulus, Bundesbank President Jens Weidmann said Saturday.

Weak Inflation Continues to Hold Down Bond Yields

Optimism that the Trump administration would usher in a new era of economic growth driven by fiscal rather than monetary policy has dissipated, keeping a lid on inflation and boosting demand for Treasurys.

Municipal Debt Lures Yield-Hungry Investors

The performance of the municipal-debt market in 2017 is a surprise to many observers, who expected a pullback following the election of President Trump. Many investors still view public debt as a relatively safe way to make money.

Why Bitcoin and Ether Went Wild

Even for an investment as volatile as bitcoin, the second quarter was wild, as the cryptocurrency's price more than doubled. The sharp gains by virtual currencies raised further questions about the year's second half.

Berkshire Hathaway to Exercise Warrants for 700 Million Bank of America Shares

Warren Buffett's firm Berkshire Hathaway said Friday that it would buy 700 million Bank of America shares, via warrants, at below-market prices, resulting in the firm becoming the bank's largest shareholder.

(END) Dow Jones Newswires

July 03, 2017 00:16 ET (04:16 GMT)