News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Trump Asks GOP Senators: Should Taylor or Powell Be Fed Chief?

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Donald Trump asked Republican senators at their meeting Tuesday which candidate they preferred to lead the Federal Reserve-current Fed governor Jerome Powell or Stanford University economics professor John Taylor.

China Aims for U.S.-Level Yields in $2 Billion Bond Offering

China is returning to international bond markets for the first time in 13 years, with a $2 billion offering of U.S. dollar bonds that will allow the world's second-largest economy to flex its financial muscle.

Congress Votes to Overturn CFPB Arbitration Rule

With Vice President Mike Pence breaking a Senate tie, Congress overturned a rule by an Obama-appointed financial regulator that would have made it easier for consumers to sue banks in groups.

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Spending, Charge-Offs Lead to Mixed Picture for Capital One, Discover

Credit-card issuers Discover Financial Services and Capital One Financial Corp. reported that rising interest rates helped results in the third quarter as consumers took on more debt.

These Lenders Get Too Much Credit

Shares of credit card lenders have recovered sharply over the past two months on optimism that rising defaults will soon stabilize. The relief may prove premature.

Owner of NYSE Agrees to Buy Bond-Trading Platform

Intercontinental Exchange Inc. said on Tuesday that it had agreed to buy a fixed income-trading platform from Virtu Financial Inc.

Wealthier Depositors Pressure Banks to Pay Up

Large U.S. banks are starting to pay up to keep depositors from moving their money, the latest sign that customers are growing more demanding as the economic recovery takes hold.

Pritzker Group Plans to Raise $1.5 Billion for New Private-Equity Fund

The investment firm of wealthy Chicago brothers J.B. Pritzker and Tony Pritzker is attempting to raise $1.5 billion for a new private-equity fund.

Clearinghouses Push Back Against Worries Over Their Size

Swaps clearinghouses are pushing back against the suggestion by a top Trump administration official that they have become too big and pose a market risk, saying regulatory and internal "stress tests" prove there is no cause for alarm.

Media Criticism Putting Qudian Shares on Wild Ride

Shares in Chinese fintech company Qudian have gone on a wild ride following intense media criticism at home of its business practices, days after the Alibaba-backed company launched one of the biggest initial public offerings in the U.S. this year.

(END) Dow Jones Newswires

October 25, 2017 00:15 ET (04:15 GMT)