News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Officials Split Over Timing of Next Rate Increase

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Fed officials meeting in July split over the timing of future rate increases as they struggled to understand why inflation has been so weak. But they agreed to soon begin the process of drawing down the central bank's holdings, according to minutes of the July gathering.

Deal to Buy High-Frequency Trader Is Part of Industry Shake Up

Electronic-trading firm DRW Holdings has agreed to buy high-frequency trader RGM Advisors, the latest sign of how the long period of low volatility is shaking up the high-speed trading world and forcing out the weaker players.

Cushman & Wakefield Expands Operations in 4 States

Cushman & Wakefield has beefed up its operations in Minnesota, Washington, Utah and Nevada, part of a growth push it has been on since it merged with two other large commercial real-estate services firms in 2014 and 2015.

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Fed's Williams: Interest Rates About Half Their Normal Level

Federal Reserve Bank of San Francisco President John Williams told broadcaster CNN Tuesday that short-term interest rates are currently about half their normal level, and need to rise gradually over the next few years.

This Auto Lender Won't Pay Off

Subprime auto lender Credit Acceptance has run circles around short-sellers, but it shares are now looking expensive and vulnerable.

Wells Fargo Names Former Fed Governor Elizabeth Duke to Chairman Role

Wells Fargo said Elizabeth Duke would replace its chairman, Stephen Sanger, on Jan. 1, making the former Federal Reserve governor the first woman to hold a top board role at one of the nation's largest banks.

Warren Buffett's Berkshire Validates Another Credit-Card Company

Warren Buffett's Berkshire Hathaway is increasingly betting on the growing credit-card industry.

U.S. Chamber of Commerce Asks SEC to Reject New Auditor Disclosure Rule

The business group is asking the Securities and Exchange Commission to block a new rule that would require auditors to tell investors more about what they find when they audit a company's books.

Treasury Market Group Offers Guidelines on Confidential Trading Information

An industry group sponsored by the Federal Reserve recommended new guidelines covering the handling of confidential bond-trading information, the latest example of efforts to improve the integrity of government securities markets.

KPMG to Pay $6.2 Million to Settle SEC Claims of Audit Failures

KPMG agreed to pay $6.2 million to settle SEC allegations that the accounting firm botched its audit of an oil-and-gas company, and the lead partner on the audit agreed to a suspension from auditing public companies.

(END) Dow Jones Newswires

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