News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Embattled Wells Fargo Plans Board Shake-Up

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The board of Wells Fargo, grappling with fresh problems even as it tries to move past the bank's sales-practices scandal, is planning a shake-up that is likely to include Stephen Sanger stepping down as chairman.

Elliott Loses Legal Battle Against Akzo Nobel

Elliott Management lost its latest legal challenge to remove Akzo Nobel's chairman, but the legal decision signaled that the New York hedge fund could pursue this effort at a later date.

Barclays Hires Citi Executive to Be Card Unit CEO

Barclaycard International has hired longtime card industry executive Barry Rodrigues to run its operations.

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Glencore Profits Rise on Commodities Boom

Swiss mining and trading giant Glencore reported strong first-half results benefiting from rising commodity prices as it continues to recover from a downturn that sparked widespread worries about its financial health and caused an investor revolt.

Why Goldman Sachs Seized a Client's 217-Foot Yacht

The story behind Goldman's nautical trophy catalogs the inevitable outcome of Wall Street's latest gold rush: lending to wealthy clients, the loans backed by everything from Warhols to fine wine.

SoftBank Filings Confirm It's Taking Extra Risk in Giant Tech Fund

Filings by SoftBank Group show it has taken on outsize risk in its new SoftBank Vision Fund, which has said it would have at least $93 billion to put into big technology bets.

Today's Financial Crisis: We Forgot the Financial Crisis of 2007

The global financial crisis began 10 years ago this week. The bad news is that it doesn't take a once-in-a-lifetime financial crisis to put a big dent in your savings, merely a perfectly ordinary mismatch between expectations and reality.

At Manhattan Rooftop Bash, Dreams of Bitcoin Riches

Digital currencies Ethereum and bitcoin have shattered records this year, capturing the imaginations of speculators and entrepreneurs hoping to cash in.

WSJ Survey: Most Economists Expect Next Fed Rate Increase in December

Economists surveyed by The Wall Street Journal this month see the Federal Reserve raising interest rates once more in 2017 and three times in 2018, a view that matches the Fed's own projections.

Fed's Dudley Sees Continued Growth in U.S. Labor Market

Federal Reserve Bank of New York President William Dudley said he sees continued moderate growth in the U.S. labor market, but also pointed to problem areas such as sluggish wage growth.

(END) Dow Jones Newswires

August 10, 2017 16:15 ET (20:15 GMT)