News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

It Was a Great Year for Public Pension Funds, But Many Are Still in Crisis

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A run-up in U.S. stocks following the presidential election produced double-digit returns for many public pensions. But even a banner year doesn't come close to solving their problems.

Who Ultimately Pays for Corporate Taxes?

An academic debate over whether investors or workers bear the ultimate burden of U.S. corporate taxes has important implications for Republican efforts to overhaul the tax code.

J.P. Morgan Chase Axes Popular Debit Card Feature

J.P. Morgan Chase has quietly canceled a popular program that allowed customers to replace lost debit cards at many of its 5,300 branches, responding to factors including an uptick in fraud.

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Japanese Bank Fined for 'Spoofing' U.S. Futures Markets

Bank of Tokyo-Mitsubishi UFJ agreed to pay $600,000 to settle civil charges by the Commodity Futures Trading Commission that one of its traders repeatedly disrupted trading in futures markets.

People's Bank of China Has Fintech on Its Mind

China's central bank is increasing its monitoring of the loosely regulated financial-technology sector-a major source of risk, given the enormous sums involved.

Ackman's Pershing Square Nominates Three to ADP's Board

Pershing Square said it is nominating its founder William Ackman and two others to the board of Automatic Data Processing, backing off previous discussions ADP said were for half the board.

What Could Possibly Ruin Traders' Summer Vacations?

It is the dog days of summer for investors-trading has slowed as stocks have risen steadily around the world. Still, August is known for offering financial markets a range of surprises.

Tools for Cleaning Up Europe's Bad Debt: 18-Wheeler and a 'Strong Stomach'

Efforts have accelerated to combat the bad-loan problem afflicting much of southern Europe, but these efforts are so messy that bank executives and analysts don't expect a resolution of the problem for years to come.

Online Lenders Clear a Low Bar-Higher Ones Lie Ahead

Online lenders On Deck and LendingClub both exceeded diminished expectations Monday but they are looking less special as competition increases.

Under New European Rules, Vanguard Will Absorb Research Costs

Vanguard will stop charging its investors for analyst research ahead of new rules that are set to shake-up the European fund management business.

(END) Dow Jones Newswires

August 08, 2017 11:15 ET (15:15 GMT)