News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

North Korean Money-Laundering Probe Focuses on U.S. Bank Transactions

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A federal court in Washington, D.C., has granted the Justice Department sweeping authority to investigate alleged North Korean money laundering involving a Chinese coal-trading network.

BOJ Conducts Fixed-Rate Bond-Buying Operation to Rein in Yields

The Bank of Japan tried to rein in rising Japanese government bond yields Friday by conducting a fixed-rate operation to buy bonds maturing in 5-10 years, effectively telling market players it wasn't prepared to let yields edge up further from its target rate around zero.

Silver Futures Plunge, Rebound in Latest Flash Crash

Silver prices briefly tumbled early in Asia with futures plunging nearly 10%, likely due to a trading error, before quickly reversing most of that decline.

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Fed's Fischer Warns Against Playing Games With U.S. Debt-Ceiling Law

Federal Reserve Vice Chairman Stanley Fischer warned U.S. elected leaders that gamesmanship over the nation's debt ceiling could eventually prove catastrophic.

Fed's Fischer Says Government Can Help Boost Productivity

Federal Reserve Vice Chairman Stanley Fischer said government actions, if done correctly, can do a lot to reinvigorate moribund levels of productivity.

Mester Says Fed Should Start Portfolio Runoff 'Sooner Rather Than Later'

Cleveland Fed President Loretta Mester said in an interview she supports implementing "sooner rather than later" the Fed's plan to slowly shrink its $4.5 trillion portfolio of assets and other holdings this year.

Continued Recovery Creates Potential for Policy Normalization, ECB Official Says

The eurozone's economic recovery opens the prospect for a gradual normalization of monetary policy, a key hawkish member of the European Central Bank's Governing Council said.

Egypt's Central Bank Raises Key Interest Rates to Curb Inflation

Egypt's Central Bank raised key interest rates by 200 basis points each, a surprise move aimed at controlling inflation after the government increased the price of fuel and electricity.

Buffett's Berkshire Nears Deal to Buy Electric-Grid Giant

Warren Buffett's Berkshire Hathaway is nearing a deal to buy one of the country's biggest power-transmission companies, which would cement electricity as one of the conglomerate's largest businesses.

AmTrust Unloads Some Claims Risk

AmTrust Financial Services said a Bermuda reinsurer has agreed to cover some of the company's claims if they are higher than expected, AmTrust's latest attempt to reassure investors.

(END) Dow Jones Newswires

July 07, 2017 00:16 ET (04:16 GMT)