News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Set to Shrink Bond Holdings 'Relatively Soon'

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The Federal Reserve, while leaving interest rates steady, signaled Wednesday it's ready as soon as September to start slowly shrinking its holdings of more than $4 trillion in bonds it bought to try to buoy the economy.

RBS to Spend More Than $1 Billion to Appease European Authorities

RBS will spend more than $1 billion on measures to increase competition in the U.K. banking market to atone for breaking European Union rules following its bailout during the financial crisis.

Denver Wins Big as Financial Firms Relocate to Cut Costs

Charles Schwab is one of the firms leaving traditional coastal financial hubs like New York and San Francisco in favor of cities with cheaper real estate like Dallas or Salt Lake City.

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Markel to Buy State National for $919 Million

Markel has reached to a deal to buy State National for $919 million in cash, the property- and casualty-insurance companies said Wednesday.

SEC Chairman Puts in a Good Word for Active Investing

Stock pickers may have a friend in the new head of the SEC, who told an audience that his investments in actively managed mutual funds have performed better than passive investments.

State Street CEO: 'All Engines Were Firing' During Second Quarter

State Street Corp.'s second-quarter profits beat Wall Street's estimates as rising interest rates and a market rally lifted revenue.

A Hot Investment Too Popular for Its Own Good

It has proved startlingly easy for companies to cut the rates on their leveraged loans. Loan investors have little choice but to go along.

UniCredit Customers Targeted in Cyber Attacks

Italian bank UniCredit said the personal loan data of around 400,000 of its customers have been targeted in a series of cyber attacks over the last ten months.

Betterment Adds More Human Advice to Its Robo Services

Robo-adviser Betterment plans to unveil expanded access to human advice with an unlimited text-messaging service, while also cutting 20% off the price of its "premium" service that provides telephone access to a team of planners.

U.K. Regulator to Hold More Firms' Bosses Accountable

The Financial Conduct Authority is set to widen the scope of rules designed to hold senior bosses personally to account for a firm's misconduct.

(END) Dow Jones Newswires

July 26, 2017 16:15 ET (20:15 GMT)