News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Global Markets Quiet Ahead of U.S. Jobs Report

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Asia-Pacific equities struggled for direction Friday, as investors seek new drivers after an October to remember and await the next U.S. jobs report, though Australian shares got a boost from metals prices.

Treasury Blocks Chinese Bank From U.S. Financial System Over North Korea Ties

The Trump administration officially cut off a small Chinese bank from the U.S. financial system on Thursday, accusing it of helping North Korea develop its illegal ballistic missile program.

Trump Says Jerome Powell Is His Choice to Lead Federal Reserve

President Donald Trump said he would nominate Federal Reserve governor Jerome Powell to be the next chairman of the central bank, saying he has the "wisdom and leadership" to guide the economy through any turbulence that arises.

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Inside Trump's Search for a Fed Leader

As he cast about for someone to lead the world's most powerful central bank, President Donald Trump kept everyone guessing.

Who Is the Next Michael Milken? A Review of the New Play 'Junk'

The irony of the new play "Junk" is that larger-than-life Wall Street characters from the 1980s now feel so puny next to the events and exigencies of our own era.

Republicans Stick With Big Corporate Tax Cuts in House Bill

The Tax Cuts and Jobs Act would permanently chop the corporate tax rate from 35% to 20%, compress the number of individual income tax brackets, and repeal the taxes paid by large estates starting in 2024, according to a detailed summary of the plan reviewed by The Wall Street Journal. The plan would seek the biggest transformation of the U.S. tax code in more than 30 years.

China Services Sector Activity Picks Up Pace in October

Activity in China's service sector expanded at a faster pace in October, a private gauge showed Friday, in contrast with official data showing a slower pace of growth.

Australian Retail Sales Flat in September

Australian retail sales were flat in September from a month earlier, disappointing economists who had expected a 0.4% rise.

Cash-Strapped Venezuela Seeks to Restructure Debt

Venezuelan President Nicolás Maduro said the cash-strapped South American country will seek to restructure its debt, raising the prospect of a showdown with bondholders that could be complicated by U.S. sanctions on key members of the Venezuelan administration.

CFTC Official: Revamp Postcrisis Swap Rules

Postcrisis swap rules are too dependent on misleading measurements of risk, Commodity Futures Trading Commission member Brian Quintenz said in a speech Thursday.

(END) Dow Jones Newswires

November 03, 2017 03:15 ET (07:15 GMT)