News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

French Prime Minister Warns of Cuts to Tame Its 'Volcano' of Debt

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French Prime Minister Edouard Philippe on Tuesday warned that the country is reeling under an "unbearable" debt burden and pledged austerity measures coming under President Emmanuel Macron's administration.

China Stocks Stage Turnaround, Leading Global Markets Higher

Chinese markets reversed early losses, driving gains in the region as buying interest in consumer stocks rose following the selloff over the past few trading sessions.

Fed Eyes September Announcement on Balance-Sheet Reduction

Fed officials have indicated there is a strong chance they will announce in September a decision to start shrinking the central bank's portfolio, while putting off until December any further interest-rate increase.

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China's Service Sector Expands at Slower Pace in June

Activity in China's service sector expanded at a slower pace in June, a private gauge showed Wednesday, pointing to possible softness in the sector, in contrast with official data showing an improvement.

Regulators Seek Ways to Boost Oversight of Senior Bank Executives

Global financial regulators want banks to pinpoint senior executives responsible for different trading areas, ensuring top managers won't escape blame in future financial failures.

EU Backs New Tax Transparency Rules For Multinationals

European Union lawmakers backed new rules that would force large multinational companies operating within the bloc to give detailed information on where profits are made to prevent them from reducing tax bills.

Abu Dhabi Wealth Fund's Appetite for Private Equity Grows as Returns Slip

The Abu Dhabi Investment Authority said it intends to pursue more direct private-equity investments, notably in fast-developing Asian markets such as China and India, reflecting a growing appetite for such transactions among the world's biggest sovereign-wealth funds.

How a Glitch Made It Look Like Apple Lost $104 Billion in Market Value

A flood of incorrect stock-market data briefly hit traders' screens, showing apparent huge moves in the Nasdaq-listed share prices of some of the world's biggest companies.

China to Hold High-Level Meeting Aimed at Streamlining Financial Regulation

China's leadership is set to convene a long-delayed policy meeting late next week to streamline financial regulation, according to people with knowledge of the matter, as curbing risks becomes a priority for Beijing in a year of political transition.

Global Stocks Retreat as Investors Question Tech's Dominance

Stocks in Europe and Asia were mostly lower Tuesday as a decline in shares of U.S. technology companies the previous day reverberated overseas.

(END) Dow Jones Newswires

July 05, 2017 03:16 ET (07:16 GMT)