News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

EU Financial-Services Chief Warns on Trump's Deregulation Drive

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Global financial stability will be endangered if President Donald Trump abandons regulatory agreements made after the collapse of Lehman Brothers, the European Union's financial-services chief said.

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

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.

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

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

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Forget an IPO, Coin Offerings Are New Road to Startup Riches

"Initial Coin Offerings," are exploding in value. So far this year, companies have raised more than $1 billion through this new, unregulated fundraising method that is based in the world of cryptocurrencies.

BOJ Action to Rein in Yields Shows Signs of Success

The Bank of Japan's latest attempt to rein in rising bond yields on Friday showed initial signs of success with a double-barreled ramping-up of its Japanese government debt purchases quickly pushing down rates.

Silver Futures Plunge, Rebound in Latest Flash Crash

The market's latest flash crash occurred in silver early Friday in Asia, with futures falling nearly 10% in several minutes before quickly reversing almost of that decline in price action which market players believe was likely set off by a trading error.

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.

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.

(END) Dow Jones Newswires

July 07, 2017 11:16 ET (15:16 GMT)