News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Unveils Plan to Pare Holdings, Hints at Another Rate Rise

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The Federal Reserve said it would initiate in October its long-telegraphed plan to shrink the portfolio of bonds acquired after the 2008 crisis and left open the possibility of raising short-term interest rates by December.

How the Fed's Unwind Will Ripple Through Banks

The gradual wind down of the Federal Reserve's balance sheet will have far-reaching effects throughout the banking system. For the most part, major banks stand to benefit.

Buffett Says Harvey Hit Geico Harder than Irma

Car insurer Geico suffered greater losses from Hurricane Harvey than Hurricane Irma, said Warren Buffett, chairman of Geico's parent company Berkshire Hathaway Inc.

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Guggenheim CEO Mark Walter has 'Full Support' of Board: Memo

Guggenheim Partners' board has told employees that Chief Executive Mark Walter has the full support of "each and every one of its members."

Bank Mergers: Why the Trump Rally Failed to Boost Dealmaking

The Trump rally was supposed to be a boon for bank mergers. But the number of U.S. bank deals so far this year has dropped slightly. At the current pace, this year could have the fewest bank mergers since 2009.

OECD Urges Politicians to Step Up as Central Banks Eye Stimulus Exit Door

A pickup in global economic growth will prove short-lived unless governments increase spending on productivity-boosting projects and push through overhauls that deal with the legacy of the financial crisis, including the problem of "zombie firms," says the OECD.

Bitcoin 'Fugitives' Gather in Hong Kong to Skirt China's Curbs

China's crackdown on cryptocurrencies isn't stopping the industry's enthusiasts from preaching their tune. Instead, it is emboldening them to find ways to circumvent the curbs.

A Surprise Bump in Bad Card Loans

Credit card lenders are seeing some of the highest delinquency rates in years.

States Back Big Rate Increases Amid Health Law's Uncertainty

Many state regulators are approving sharp rate increases for 2018 Affordable Care Act insurance plans as they are forced to make decisions amid new uncertainty about the health law's future.

Call It 'Fintech' and Watch the Valuation Soar

China's ZhongAn insurance company wants to be seen as tech play, rather than a boring old insurer.

(END) Dow Jones Newswires

September 20, 2017 16:15 ET (20:15 GMT)