News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

How Monte dei Paschi Ended Up on the Verge of Nationalization

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Italy's expected nationalization of Banca Monte dei Paschi di Siena and its decision to sink billions into two failing banks are raising questions about whether the government's approach to bank oversight has helped or hurt taxpayers.

Hong Kong-Mainland Bond Link Gets Off to Quiet Start

China's bond market showed little reaction as Beijing and Hong Kong opened a trading link giving global investors additional access to the world's third-largest debt market.

Brexit Could Cost Banks $17 Billion

Banks in the U.K. could be on the hook for $17 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.

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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.

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.

Big U.S. Funds Are Wary of Europe Despite Hopeful Signs

Investors are worried about the political risks linked to Britain's exit from the European Union, the European Central Bank's investment pullback and long-term demographic challenges.

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.

Banks Unleash Record Stock Buyback Plans

Positive stress-test results for U.S. banks this week triggered the largest wave of share buyback announcements on record. Domestic banks disclosed plan for $92.8 billion in corporate repurchases on Wednesday, nearly all of the $93.1 billion that represented an all-time high.

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.

(END) Dow Jones Newswires

July 03, 2017 07:16 ET (11:16 GMT)