News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

China's Anbang Hits a Wall in South Korea

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China's Anbang Insurance dived into South Korea, spending over $1 billion as it took control of two insurers, agreed to buy an asset-management company and picked up a bank stake. Now those deals are fraying.

Fed Officials Split Over Timing of Next Rate Increase

New doubts over sagging inflation in the past few months are driving a split at the Federal Reserve about the timing of the next increase in interest rates.

Prosecutors Allege Insider Trading Involving Former Bank of America IT Worker

A former Bank of America employee and several friends at prominent Wall Street firms face criminal insider-trading charges over tips about potential mergers gleaned from a confidential deals database.

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Elliott Moves to Block Berkshire Bid for Oncor; Buffett Stands Pat

Elliott Management has purchased a slice of debt that would ensure the hedge fund's ability to block Warren Buffett's deal to buy power-transmission business Oncor, according to people familiar with the matter.

Sale of Once Hot High-Frequency Trading Firm Reflects Industry Troubles

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.

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.

(END) Dow Jones Newswires

August 17, 2017 07:15 ET (11:15 GMT)