News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bill to Sanction Banks Dealing with North Korea Advances

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Chinese banks risk steep penalties for aiding North Korea, under new legislation that sailed through the Senate banking committee Tuesday.

BOJ Funo: To Patiently Continue With Powerful Monetary Easing

Bank of Japan policy board member Yukitoshi Funo on Wednesday pledged to keep the bank's ultra-easy monetary policy in place given that inflation is still far from a 2% target.

Fed's New Regulatory Point Man: Everything Is on the Table

Fed Vice Chairman for Supervision Randal Quarles said Tuesday that all of the agency's Wall Street rules should get a fresh look and that annual bank stress tests are "on the front burner."

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ADP Boss Taunts Ackman: This Was a 'Whooping'

William Ackman lost his bid for three seats on the board of Automatic Data Processing, a resounding rebuke of the struggling activist investor as shareholders sided with management at the human-resources software company.

CFPB Promotes Donoghue to Head Enforcement Team

The Consumer Financial Protection Bureau said Tuesday it will promote Kristen Donoghue, an agency lawyer, to head its enforcement office.

Steven A. Cohen, Andreessen-Backed DIY Quant Fund Struggles

A quant-trading firm backed by hedge-fund investor Steven A. Cohen and venture-capital firm Andreessen Horowitz has run into early problems.

State Street CEO, President Plan to Retire

State Street Corp. Chief Executive Joseph Hooley and President Michael Rogers plan to retire as part of a leadership shake-up, the giant custody bank said.

Tricky Balancing Act Faces New York Fed Search Committee

Help Wanted: A senior executive with a keen knowledge of markets and economics, but who isn't too close to Wall Street because he or she will be responsible for regulating some of the world's biggest banks.

Credit Trades Du Jour: Exotic, 'Nonlinear' and Private

The hunt for yield is taking Wall Street and investors into exotic territory-and that means an appetite for credit assets that are private, not easily tradable and often complex.

Switzerland's Central Bank Finally Gets Some Inflation-In Its Profit

The Swiss National Bank's foreign-currency reserves jumped by $17 billion in October, putting the central bank on track for another banner quarter after earning a record-high profit between July and September.

(END) Dow Jones Newswires

November 08, 2017 00:15 ET (05:15 GMT)