News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Trump to Tap Jerome Powell as Next Fed Chairman

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The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.

Powell's Candidacy Offers Continuity in Fed Policy

In Jerome Powell, Mr. Trump picked a Republican who has consistently supported Ms. Yellen on policy, although the Fed governor has made clear he wants to adjust postcrisis banking regulations.

Fed Leaves Rates Unchanged, Cites 'Solid Rate' of Economic Growth

The Federal Reserve left short-term interest rates unchanged Wednesday, but signaled it would consider lifting them before year's end amid signs the economy is gaining momentum.

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SEC Warns Celebrities Against Endorsing Offerings

Celebrities who pitch investors on stock sales and initial coin offerings without disclosing their pay may be breaking the law, the U.S. markets regulator said.

SEC Letter to Guggenheim Questions Disclosure of African Banking Investment

Guggenheim Partners received a July letter from U.S. regulators that raised concerns about its relationship with companies connected to former Barclays Chief Executive Bob Diamond.

Yellen's Exit as Fed Chief Would Mark Break From Recent Precedent

Janet Yellen's leadership at the Fed looks set to end after just one four-year term, the shortest tenure at the helm of the central bank in nearly four decades, and a break from recent precedent.

Trump Signs Bill Scrapping Rule That Made It Easier to Sue Banks

President Donald Trump signed a bill repealing a regulation designed to make it easier for consumers to sue banks, handing the financial industry one of the biggest victories of his term.

SNB Vice Chairman Defends Negative Rates

A top Swiss National Bank official defended its negative interest rate policy, saying it was necessary to keep the Swiss franc from strengthening too much and depressing consumer prices.

Bank of England Sets Stage for Rate Increase

The Bank of England is expected to lift its main interest rate on Thursday for the first time in more than a decade, in what would be a significant shift that two senior bank officials have suggested could be premature.

MetLife Swings to Loss on Brighthouse Charges

Hurricanes reduced the third-quarter results of big insurers MeLife and Allstate with their large homeowner and car-insurance businesses, while the rallying stock market helped life insurers industrywide with products tied to market returns.

(END) Dow Jones Newswires

November 02, 2017 00:15 ET (04:15 GMT)