News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

J.P. Morgan's Profit, Revenue Rise

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J.P. Morgan said its second-quarter profit rose as a boost from lending offset weaker trading results for the nation's biggest bank by assets.

Economists Place One-in-Five Odds of Trump Reappointing Yellen As Fed Chair

Economists place long odds on President Donald Trump nominating Federal Reserve Chairwoman Janet Yellen to a second term, but have little consensus on who might take her place.

Financial Regulators Tussle Over New Arbitration Rule

The head of the Consumer Financial Protection Bureau shot back at a fellow top financial regulator over a new regulation banning forced arbitration, saying there was "no basis" for his counterpart's claim that the rule puts the federal banking system at risk.

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Hedging Ebbs as U.S. Currency Weakens

Investors are diving into overseas-stock funds while ditching expectations for a rebound in the dollar, the latest market ripple of the greenback's surprise 2017 slide.

Vanguard CEO McNabb to Step Down

Vanguard CEO Bill McNabb plans to step down in January after leading the indexing pioneer through a decade when it emerged as the world's second-largest money manager.

Guggenheim Partners Names Asset-Management President

Jerry W. Miller, who led Deutsche Bank's asset- and wealth-management business in the Americas before resigning last year, will take over as head of Guggenheim's asset-management business.

Fed's Brainard Says Asset Values May Be 'A Little Stretched'

Federal Reserve Governor Lael Brainard said asset valuations "look a bit stretched" but don't show additional warning signs that might otherwise heighten concerns.

Fed Official Says More Inflation Likely Needed Before Another Rate Rise

Federal Reserve Bank of Dallas President Robert Kaplan indicated he is likely to need to see higher inflation before supporting another interest rate rise.

Fed's Yellen: Tougher Capital Rule for Stress Tests Might Not Be Ready by 2018

The largest U.S. banks might not face a tougher capital rule when they take the Federal Reserve's annual stress tests next year, Fed Chairwoman Janet Yellen said Thursday.

Manulife Exploring IPO or Spinoff for John Hancock Unit

Canadian insurer Manulife Financial is exploring a possible IPO or spinoff of its John Hancock Financial Services unit, as life insurers continue to struggle with low interest rates and other challenges to the business.

(END) Dow Jones Newswires

July 14, 2017 07:15 ET (11:15 GMT)