News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Royal Bank of Canada Revenue Slips

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Royal Bank of Canada's quarterly profit topped expectations amid growth in its wealth-management business, even as unfavorable market conditions caused revenue to slide. The bank raised its dividend by 5%.

Toronto-Based Wealthsimple Launches Shariah-Compliant Portfolio

Wealthsimple Financial is launching a new shariah-compliant portfolio targeting U.S. and Canadian investors in a move to expand its product offerings in an increasingly crowded robo-adviser market.

Think Interest Rates Are Going Up? Banks Don't

After years of waiting for interest rates to rise, some banks have started to lend as if they never will, loading up on a record amount of loans and securities that carry low rates for years.

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Blackstone Considers Initial Public Offering of Gates Corp.

Blackstone Group is considering an initial public offering of Gates Corp. that could value the auto-parts maker at as much as $9 billion.

All Regional Fed Banks Wanted to Keep Discount Rate at 1.75% in July

All of the Federal Reserve's 12 regional reserve banks wanted to maintain the interest rate on discount-window loans ahead of the central bank's July policy meeting, according to minutes released Tuesday.

U.S. Weighs Restricting Trades in Venezuelan Debt to Punish Maduro

The U.S. is considering restricting trades in Venezuelan debt as it seeks to punish President Nicolas Maduro for undermining the country's democracy, according to people familiar with the matter.

Startup Insurer Seizes on Growing Market for Private Medicare Coverage

In the latest sign of the health-care industry's focus on the growing business of private Medicare coverage, several high-profile executives are planning to launch Devoted Health, a new startup insurer focused on such plans.

Banks' Quarterly Earnings Up 10.7%

U.S. banks' earnings rose 10.7% to $48.3 billion in the second quarter from a year earlier, indicating the sector is continuing its postcrisis recovery, a bank regulator said Tuesday.

Captrust to Acquire Smaller Investment Advisory Rival

One of the country's largest investment advisory firms is acquiring a namesake firm from which it split two decades ago, a move that comes as the industry consolidates to combat an aging workforce and rising compliance costs.

H&R Block Names Former Uber Exec Jones CEO

H&R Block has tapped former Uber and Target executive Jeffrey Jones to revamp the 62-year-old tax preparer.

(END) Dow Jones Newswires

August 23, 2017 11:15 ET (15:15 GMT)