News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Trump to Nominate Randal Quarles as Fed Bank Regulator

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President Donald Trump plans to put his first mark on the Federal Reserve by nominating Randal Quarles, an investment-fund manager and former Republican Treasury official, to be the central bank's top official in charge of regulating big banks.

Lawmakers Call on SEC to Reject Chicago Stock Exchange Sale

Nearly one dozen Republican and Democratic lawmakers are urging federal regulators to reject the takeover of the Chicago Stock Exchange by a coalition that includes several Chinese investors.

Consumer Agency's Arbitration Move Sets Off GOP Showdown

An Obama-appointed regulator on Monday barred financial-services companies from requiring customers to use arbitration to resolve disputes, setting off a showdown with the Trump administration and congressional Republicans.

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Warren Buffett Gifts $3.2 Billion in Berkshire Hathaway Stock to Charities

Berkshire Hathaway Chairman Warren Buffett has donated about $3.17 billion of shares in the company to five foundations, the latest contribution in a more than decade-long pledge to donate a portion of his wealth to charities and philanthropic endeavors.

CFTC Wants New Swaps Transaction Reporting Rules

The U.S.'s top derivatives regulator on Monday said it plans to rewrite rules governing the reporting of swaps transactions in an effort to make data more consistent across firms and give regulators a clearer view of market conditions.

Fed Treasury Holdings Seen Returning to Current Levels After Wind-Down

Bond brokers surveyed by the New York Fed expect the U.S. central bank to hold roughly the same amount of Treasurys in eight years' time as it does today, despite its plans to shrink some of its bondholdings starting later this year.

How Fixing Italy's Banks Is Helping Europe Heal

Italy's banks, long a source of worries about European instability, might finally be aiding the continent's recovery.

Investors Turn Attention to ECB Following Fed Moves

The center of gravity in central banking is shifting away from the U.S. and toward Europe, where officials are considering winding down years of extraordinary economic stimulus.

Finance Chiefs Want You to Use Plastic, Not Paper

Companies are giving more of their employees corporate credit cards as they seek easier expense tracking and savings from suppliers.

ClubCorp Agrees to $1.1 Billion Takeover Deal by Apollo

ClubCorp Holdings agreed to be bought by private-equity firm Apollo Global Management in an all-cash deal valued at $1.1 billion.

(END) Dow Jones Newswires

July 11, 2017 00:15 ET (04:15 GMT)