News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Vice Chairman Stanley Fischer to Step Down

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Federal Reserve Vice Chairman Stanley Fischer announced his intention to resign Wednesday, roughly a year and a half before his term as the central bank's No. 2 official was due to expire.

Bank of Canada Surprises With Another Rate Rise

The Bank of Canada raised its benchmark interest rate by a quarter-percentage point to 1%, saying stronger-than-anticipated growth-highlighted by a blockbuster performance in the second quarter-warrants the removal of "considerable" stimulus from the economy.

Deutsche Bank Chief Calls for End to ECB's Cheap Money Era

The head of Germany's largest bank said the European Central Bank should begin the process of ending its very accommodative monetary policy, regardless of the strength of the euro.

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Goldman Halts IPO Work for China HNA Unit on Ownership Concerns

Goldman Sachs has stopped working on the potential listing of a Chinese company owned by HNA Group because of concerns about the acquisitive conglomerate's ownership structure.

Fired Wells Fargo Managers Sue Over Sales Scandal

Two former managers have sued Wells Fargo & Co., claiming they were unfairly fired over the bank's sales-practices issues.

Hong Kong's Jeneration Capital Hires Deal Maker Tony Zhang

Hong Kong's Jeneration Capital-most of whose $2 billion in assets under management comes from founders of Chinese tech giants-has hired former Coatue Management Asia chief Tony Zhang as a partner.

China's Most Dangerous Bank

Investors love China Merchants but the bank looks vulnerable as Beijing cracks down on aggressive tactics.

Array of Threats Stir Up Markets

U.S. government bonds rallied and banking and insurance stocks tumbled in the latest signs of rising anxiety hitting financial markets.

Do Free Business-School Courses Have a Payoff?

Schools like Wharton and Harvard Business School have attracted thousands of people to free or low-cost online versions of courses taken by full-time M.B.A. students. But the career benefits for learners remain unclear.

Pimco Total Return Has Stopped Client Exodus

Pacific Investment Management Co.'s Total Return Fund, the flagship bond fund Mr. Gross ran until his 2014 ouster, had $348 million in net inflows in August, excluding reinvested dividends, a person familiar with the matter said.

(END) Dow Jones Newswires

September 06, 2017 11:15 ET (15:15 GMT)