News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed's Powell Says Proposal for Bank Boards Will Simplify Responsibilities

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The Federal Reserve's proposed easing of requirements for bank boards isn't meant to take the pressure off directors who sit on the boards, Fed Gov. Jerome Powell said.

1MDB Pays Balance of Missed Debt Installment to Abu Dhabi Fund

Malaysia's state-investment fund 1Malaysia Development Bhd., or 1MDB, said it had paid the second tranche of a missed installment to Abu Dhabi's sovereign International Petroleum Investment Co., a payment that could alleviate some concerns about Malaysian state securities for foreign investors.

Delivering Comprehensive Wealth Management

: Jimmy Lee, CEO and founder of Wealth Consulting Group, focuses on advice that encompasses a person's full array of assets. "We do a lot of things we aren't necessarily paid to do," he says. "But they help us more actively coordinate a person's goals."

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RBNZ Chief Gives Warning on Home Prices

Reserve Bank of New Zealand Gov. Graeme Wheeler warned that house prices in the country could surge if the loan-to-value restrictions were removed.

Investors Scoop Up Gold, Treasurys but Snub Dollar

Tuesday's moves were sparked by North Korea's missile launch over Japan, but the U.S. currency is suffering from a broader concern over the pace of U.S. economic growth and fractious domestic politics.

Emerging-Market Bonds: The Stars Align

Low inflation is a puzzle in developed markets, but a pleasant and powerful phenomenon for emerging-market bonds

It's Official: Warren Buffett Made About $13 Billion on Bank of America Deal

Warren Buffett's Berkshire Hathaway Inc. officially became the biggest shareholder of Bank of America Corp. on Tuesday, notching billions in gains on the bank's recovery from the financial crisis.

Messaging-App Kik's Big Bet on a Digital Coin Offering

Messaging-app Kik Interactive aims to raise $125 million through a so-called initial coin offering in September, one of the first established companies to step into the mushrooming but speculative market for these digital tokens.

Cantor Fitzgerald Stops Trading Venezuelan Bonds

Cantor Fitzgerald LP stopped trading Venezuelan debt Tuesday, days after the Treasury Department slapped financial sanctions on the country for undermining democracy.

Deutsche Bank Says Postbank CEO to Join Management Board

Deutsche Bank said that Frank Strauss, the head of its Postbank retail-banking business in Germany, will join the lender's management board this week, now that regulatory requirements have been met.

(END) Dow Jones Newswires

August 30, 2017 11:15 ET (15:15 GMT)