News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Investors Brace for Clues on ECB's Tapering Plans

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Financial markets seesawed last month after ECB President Mario Draghi signaled that the bank might soon scale back its $70 billion a month bond-buying program. He has a chance to expand on that idea on Thursday.

Bank of Japan Delays Inflation Target Date-Again

Japan's central bank pushed back its forecast for reaching 2% inflation for a sixth time under the leadership of Haruhiko Kuroda, further highlighting Japan's struggle to achieve stable price growth.

China Seeing Most Balanced Cross-Border Capital Flows in 3 Years

China is seeing the most balanced cross-border capital flows in three years thanks to stabilized yuan-rate expectations, the country's foreign exchange regulator said Thursday.

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Goldman's Partners Cash Out

Goldman's 450 or so partners own just 4.8% of the firm today, according to a securities filing late Wednesday. That's the lowest level since its IPO and slips under a 5% regulatory threshold that for years has mandated public disclosures that opened a window into the sway held by this elite inner circle.

How Quants Calm the Stock Market

One factor helping to keep the VIX and realized volatility extremely low is quant funds that are discovering surprises before they can create big stock-market moves.

American Express Profit Falls

American Express Co. said Wednesday its second-quarter earnings fell 33% from last year amid heavy competition from large banks and the loss of its 16-year exclusive relationship with Costco Wholesale Corp.

House Lawmakers Put Definition of 'Systemically Important' in Play

A bipartisan group of House lawmakers is seeking to change the way the government designates banks as being "systemically important," a label that triggers tougher oversight.

Fed Faces Inflation Riddle

The Fed is likely to stand pat on policy when it concludes a policy meeting next week, but it faces a debate about the future path of interest-rate increases because of a deepening puzzle over inflation.

'Fiduciary' Rule Accelerates Account Shift Across Brokerage Industry

A new retirement-savings rule that began to take effect last month is already having an impact on the brokerage industry.

GOP Lawmakers Aim to Kill CFPB's Arbitration Rule by Mid-August

Congressional Republicans by mid-August hope to overturn a rule put in place by Consumer Financial Protection Bureau that could make it easier for consumers to band together and sue banks to resolve disputes.

(END) Dow Jones Newswires

July 20, 2017 07:15 ET (11:15 GMT)