News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed's Williams Calls for Government-Debt Cuts While Economy Strong

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Federal Reserve Bank of San Francisco President John Williams called for greater efforts to lower soaring U.S. government debt, saying that the economy was strong enough to start the process of debt reduction.

Trump to Nominate Randal Quarles as Fed Bank Regulator

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.

Why Is Everyone Making a Stink About Clearing?

A big fight is brewing over a key piece of pipework after Brexit: here's what's at stake.

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China's Central Bank Is Battling Investors at Home Over the Yuan

A tug of war between the People's Bank of China and investors in the country's domestic foreign-exchange market has played out almost daily in recent months, with the yuan consistently closing weaker than the level set by the central bank.

Dalian Wanda Rides China's Financial Merry-Go-Round with Latest Deal

Dalian Wanda is helping to finance the sale of $9.3 billion of its assets, by lending money to Sunac China, the purchaser.

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.

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.

(END) Dow Jones Newswires

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