News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

In Silicon Valley, the Big Venture Funds Keep Getting Bigger

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Giant venture-capital funds are piling up in Silicon Valley, a sign that foundations, pension funds and endowments are still willing to rush money into the risky startup sector despite lingering concerns about overheated valuations.

IPO Backed by Morgan Stanley, Asian Billionaire Gets Rare Rejection

Hong Kong's stock exchange has denied the application for a potentially multimillion-dollar listing as the city-a hot spot for initial public offerings-has come under increasing regulatory scrutiny.

Trump Says Cohn and Yellen Are Contenders to Lead the Fed

President Donald Trump is considering renominating Janet Yellen as Fed chairwoman but also views his economic adviser Gary Cohn as a top candidate, he told The Wall Street Journal in an interview Tuesday.

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Hedge Funds Take Aim at Health Care REIT Merger

Two major investors of Sabra Health Care REIT are coming out against its proposed deal to acquire another health-care REIT, saying Sabra is overpaying for skilled nursing assets that are in bad shape.

Fintech Firm Backed by Warburg Pincus Files for Bank Charter

Within a week of a Trump administration official endorsing the idea of giving bank charters to financial technology companies, a startup is putting that to the test: Varo Money.

Bitcoin Options Exchange Wins CFTC Approval

A bitcoin options exchange called LedgerX won approval from the U.S. CFCT to clear bitcoin options, making it the first U.S. federally regulated platform of its kind.

Novo Banco Launches Debt Swap to Secure Lone Star Takeover

Portugal's Novo Banco has launched a plan to raise $582 million from a bond exchange, as a condition of its takeover by U.S. private-equity firm Lone Star Funds.

United Capital Buys Three Advisers With $758 Million Under Management

United Capital Financial Advisers has acquired three wealth-advisory firms across the U.S., the latest sign of consolidation in the financial-advice industry.

Meet the Bank Customers Pushing for a Better Deposit Deal

With short-term interest rates on the rise, businesses are seeking bigger payouts on their deposit accounts-and in the second quarter, big banks started capitulating.

Who Owns HNA? We Still Don't Know

China's acquisitive HNA Group has disclosed more than ever about its owners. That won't stop the questions.

(END) Dow Jones Newswires

July 25, 2017 16:15 ET (20:15 GMT)