News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Gradual Rate Increases Are Right Path, Fed's Rosengren Says

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Federal Reserve Bank of Boston leader Eric Rosengren said Wednesday additional rate rises are necessary to prevent the economy from overheating.

St. Louis Fed's Bullard Says Rates Should Stay Right Where They Are

St. Louis Fed President James Bullard said short-term interest rates are where they should be, given dim prospects for a significant rebound in economic growth or a surprise boost in inflation this year.

High-Net-Worth Individuals Ride Stock Rally to Strong Growth

The ranks of the richest individuals expanded globally at a faster rate in 2016 than the prior year, according to a new report, a finding that comes as wealth managers grapple with client concerns over fees and services.

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U.S. Bank Regulators Propose Changes to Capital Rules

U.S. regulators proposed to modify bank capital rules affecting commercial real-estate loans, mortgage-servicing rights and other areas in a move they said responded to industry concerns.

Citibank Buys $2.17 Billion Toshiba Settlement From Owners of S.C. Nuclear Plant

The owners of an unfinished nuclear power plant in South Carolina have agreed to sell at a discount their shares of a $2.17 billion settlement with Toshiba Corp., which agreed to cover costs for the project which was canceled over the summer.

Morgan Stanley Chief Says Firm's Brokers Will Maintain Key Position

Morgan Stanley, with its large investment bank and wealth management business, has been cool on the idea that roboadvisers will upend the brokerage business that generates about half of its revenue.

Judge Dismisses SEC Fraud Case Against Financier Lynn Tilton

The Securities and Exchange Commission suffered a major loss when one of its own judges dismissed the agency's case against financier Lynn Tilton.

New York Fed Working to Make Sure Puerto Rican Banks Have Cash They Need

While demand for cash is "extraordinarily high" in Puerto Rico following Hurricane Maria, the New York Fed said that "we have adequate inventory to meet demand from depository institutions on the island."

What Investors Don't Know About the Tax Plan

Investors can be sure the newly released Republican tax overhaul would improve companies' bottom lines. Whether it would benefit top lines is up in the air.

Grocery Store Meltdown Triggers Creditor Lawsuit Against Comvest

Creditors of Haggen, a West Coast grocer that fell fast and hard after buying a string of stores shed by Albertsons, say private-equity owner Comvest Partners set the stores up to fail.

(END) Dow Jones Newswires

September 28, 2017 00:15 ET (04:15 GMT)