News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Analysis: Labor-Market Strength Should Keep Fed Plans on Track

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Strong gains in hiring and a slight decline in the jobless rate last month keep the Federal Reserve on track to begin slowly shrinking its balance sheet this fall and to raise short-term interest rates after that for the third time this year.

RBS Posts First Half-Year Profit in Three Years

Royal Bank of Scotland swung to a net profit for the first half of 2017, as a series of one-off costs melted away.

Blackstone, CVC to Buy Paysafe for $3.9 Billion

Blackstone and CVC said they have struck a deal to acquire online-payments processor Paysafe for $3.89 billion amid a wave of consolidation in the sector.

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New Guidelines Aim to Clarify Rules on Overdraft Fees

Banks are under pressure by the government to overhaul how they explain checking account overdraft programs that generate billions of dollars in fees for the industry annually.

Online Lender Prosper in Talks on Deal That Would Slash Its Value

Under the proposed transaction, Chinese conglomerate Linca Industrial (Fujian) Group would invest $50 million for a roughly 10% stake in Prosper Marketplace, a company that had been valued at $1.9 billion.

That Drone Over Your Home? It's the Insurance Inspector

Drones, photo-taking apps and artificial intelligence are accelerating what has long been a clunky, time-consuming experience: the auto or home-insurance claim.

Bill Perkins Is the 'Last Cowboy' Betting on Volatile Gas Markets

Bill Perkins, natural gas trader and founder of Skylar Capital Management LP, embraces volatility, preferring to make money with a few monster trades while computers grind out small gains.

Bill Ackman Pushing for Board Seats to Control ADP

Automatic Data Processing has rejected a request from Bill Ackman's Pershing Square Capital to extend a deadline to nominate director candidates, in the latest of recent examples of activist investors looking to force changes at companies.

Oil Trader Hall Is Closing His Astenbeck Hedge Fund

Andrew Hall, one of the world's most prominent oil bulls, is shutting down his main hedge fund, the latest reckoning for a Wall Street trader who struck out on his own.

Fed Aims to Cut Back Requirements for Bank Directors

The Federal Reserve proposed scaling back the requirements it places on boards of directors at banks, its latest move to recalibrate regulations as it takes stock of rules adopted since the financial crisis.

(END) Dow Jones Newswires

August 04, 2017 11:15 ET (15:15 GMT)