News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Buffett Could Be Costly Option for Sprint and SoftBank

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Softbank's Masayoshi Son met with Warren Buffett to talk about an investment in Sprint-but that's not likely to come cheap.

Citigroup to Overhaul Prestige Rewards as Competition Heats Up

The bank is revamping some of the benefits on its premium credit card in an effort to sweeten the deal for coveted consumers who are big spenders.

Bitcoin Takes Weekend Slide

The price of the digital currency bitcoin fell over the weekend, dropping below $2,000 and farther away from its June highs, part of a broad selloff in dozens of cryptocurrencies.

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The Other 496 S&P Stocks

So much of the market's gain this year have been powered by Alphabet, Amazon, Apple and Facebook that strategies that don't contain those stocks have been left behind.

From $2 Billion to Zero: A Fund Goes Bust in the Oil Patch

A $2 billion private-equity fund that borrowed heavily to buy oil and gas wells before energy prices plunged is now worth essentially nothing.

China's Xi Forges New Body to Tighten Financial Controls

President Xi Jinping announced the setup of a cabinet-level committee to coordinate China's financial regulation as the leadership focuses on keeping risks at bay.

Earnings Take Shine Off Bank Stocks

A still-challenging environment around lending and interest rates, along with frustration over Washington gridlock that prompted angry remarks from J.P. Morgan's James Dimon, took some of the shine off otherwise solid results from three of the biggest U.S. banks.

J.P. Morgan Reports Strong Earnings but Trims Outlook

J.P. Morgan posted a record profit for the second quarter, helped by a lending boost in both its consumer and commercial businesses. But the bank trimmed its full-year outlook for growth in lending and net interest income.

Citigroup's Revenue Rises Despite Slowdown in Trading

Citigroup said its second-quarter revenue grew 2%, topping Wall Street's expectations, as its trading desk saw a smaller-than-anticipated drop-off in activity.

Wells Fargo Gets Boost from Higher Rates but Lending Stagnates

Wells Fargo reaped the benefits of higher interest rates in the second quarter, which helped push its profit higher. But stagnant lending and weaker revenue in areas like mortgage banking overshadowed progress on the bottom line.

(END) Dow Jones Newswires

July 17, 2017 07:15 ET (11:15 GMT)