News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Australia's RBA Leaves Cash Rate Target Unchanged at 1.50%

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Australia's central bank left its benchmark cash rate unchanged at a record low 1.5% at a policy meeting Tuesday, balancing optimism around employment growth with caution over flat wages growth and a higher local currency.

China's Big Banks Still Have a Credibility Gap

Strong first-half results for the likes of ICBC and Bank of China mask several ongoing problems.

Ernst & Young Cites Digital Push for Revenue Gain

Ernst & Young recorded global revenue of $31.4 billion in its latest fiscal year, up 6% from the previous year in U.S. dollar terms, the Big Four accounting firm said Monday evening.

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A Decade After Crisis, Investors Have Stopped Hunting for Black Swans

Fear of "black swan" events, which are difficult to predict, drove some investors into hedge funds that offered extreme insurance policies. But the swans have yet to return, and such strategies have fallen out of favor.

CFPB Chief Lays Groundwork for Possible Return to Ohio Politics

Richard Cordray, the head of the Consumer Financial Protection Bureau, laid the groundwork for his possible return to Ohio politics, giving a an impassioned speech about inequality and his agency's work.

Carlyle Group Wins Guernsey Lawsuit Over Crisis-Era Bond Fund

A judge ruled in favor of Carlyle Group LP Monday in a lawsuit alleging the buyout firm didn't do enough to save a financial-crisis-era bond fund.

Behind BlackRock's Cross-Selling Blitz

As part of a cross-selling push, BlackRock Inc. is pitching its clients the services of its Financial Markets Advisory business, which helped many of Wall Street's largest banks pass the Federal Reserve's annual stress tests last year.

China Bans Digital Coin Offers as Celebrities Like Paris Hilton Tout Them

Initial coin offerings are the latest financial-markets mania, capturing investors' imagination like dot-com startups once did years ago. But for all the hype, the risks are plentiful.

For the ECB, There's Only So Much Time to Play For

The European Central Bank has emphasized persistence and patience on its monetary policy. But with the path of its bond-purchase program set only until the end of December, the pressure to lay out 2018 plans is building.

Bank Investors Say Mind the Gap

U.S. bank stocks dropped in August as interest rates slipped, and some money managers say lenders have farther to fall.

(END) Dow Jones Newswires

September 05, 2017 07:15 ET (11:15 GMT)