News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Officials Ready to Start Shrinking Portfolio in Months

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Federal Reserve officials in June readied plans to start slowly shrinking the central bank's large portfolio of bonds and other assets in the next few months, according to minutes of the central bank's June meeting released Wednesday.

AIG CEO Taps Peter Zaffino as Key Lieutenant

American International Group CEO Brian Duperreault has hired former Marsh & McLennan colleague Peter Zaffino to be one of his top lieutenants, his first high-profile recruit since joining the insurance giant in May.

Judge Warns Shkreli on Speaking About Trial

A federal judge in Brooklyn told Martin Shkreli to stop speaking about his continuing securities-fraud trial in the vicinity of the courthouse after prosecutors sought a gag order.

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Hedge Fund Och-Ziff Sees Stronger Returns

Och-Ziff Capital Management Group said its largest fund had its best performance in the January to June period since 2009, even as the hedge-fund industry deals with massive capital outflows in recent years.

Goldman Eyes Spinoff of Simon, an Online Tool for Bond Sales

Goldman Sachs Group Inc. is seeking to sell a stake in Simon, its two-year-old web app that sells complex financial products to retail investors

Vantiv Strikes $10 Billion Deal to Buy Worldpay

U.S. credit-card processor Vantiv will buy U.K. payments firm Worldpay in a deal that would create an industry giant with a market value of over $20 billion. J.P. Morgan, which had been looking at Worldpay, bowed out.

Mortgages Undergo an Attitude Adjustment

Millennials buying homes are increasingly opting for adjustable-rate mortgages

Many Startups Remain IPO Holdouts

Initial public offerings in the U.S. have rebounded this year, but still holding out are many private companies valued at $1 billion or more.

Lloyds CEO Reshapes Succession Plans With Promotions

Lloyds Banking Group promoted several executives ahead of a strategy revamp and in a bid to appease investors concerned that the bank had too few potential internal replacements for Chief Executive António Horta-Osório.

South Africa Plans to Nationalize Central Bank

South Africa's ruling party wants to nationalize the Reserve Bank, a top party officials said, a move that would end its status as one of the few central banks around the world that still has private shareholders.

(END) Dow Jones Newswires

July 06, 2017 07:16 ET (11:16 GMT)