News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Banking Regulator to Take First Step Toward Changing Volcker Rule

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The national bank regulator is taking a first step toward changing the Volcker rule trading ban, according to people familiar with the matter, as regulators continue behind-the-scenes discussions about revamping the much-criticized regulation.

Malaysia's 1MDB Delays Payment to Abu Dhabi Fund

A troubled Malaysian state-investment fund said it was delaying a payment of about $600 million that it owes to an Abu Dhabi sovereign-wealth fund because of regulatory hurdles in getting the money.

Bitcoin Rival Launches in Volatile First Day

Bitcoin Cash, a tweaked version of the digital currency created by one side in an industry rift, started trading Tuesday. Prices fluctuated to as high as 15% of a bitcoin.

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Stock Indexes Push Back Against Dual-Class Listings

Companies with multiple share-class structures, such as Snap Inc., won't be allowed to join the S&P 500, according to new rules outlined by the operator of the most widely followed market benchmark.

ETFs Now Have $1 Trillion More Than Hedge Funds

The fortunes of Wall Street's cheapest and priciest funds are diverging fast as exchange-traded funds held $1 trillion more in investor money than hedge funds globally for the first time ever at the end of June.

Auto Lender's Risks Larger Than They Appear

Subprime lender Credit Acceptance Corp. doesn't offer many details on how its loans are performing.

Indexers Push Back Against Wall Street

Give a small cheer to the index nerds at S&P. Their decision to ban companies that have different classes of stock is a rare instance of Wall Street protecting investors.

Inside Goldman's Struggle to Climb Out of Last Place in Trading

Goldman Sachs's 40% decline in fixed-income activity has rattled executives, sparking a charm offensive designed to showcase a more customer-friendly Goldman.

Brexit Could Lead to Loss of 17,000 U.K. Investment Banking Jobs

Up to 17,000 investment banking jobs could leave the U.K. soon after Brexit, according to the latest estimates from Oliver Wyman.

How Risky Loans Are Kept Afloat in Alphabet Soup

Corporate borrowers are relying on credit products from pre-crisis days known as collateralized loan obligations, or CLOs, more than they realize.

(END) Dow Jones Newswires

August 01, 2017 16:15 ET (20:15 GMT)