News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Japanese Bank Switches U.S. Regulators in Middle of Investigation

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Japan's biggest bank sidestepped state supervision of a New York branch in the middle of a state investigation into the bank's safeguards meant to ensure clients weren't evading U.S. sanctions, according to a state regulator's letter reviewed by The Wall Street Journal.

Steve Jurvetson Fires Back at DFJ After His Exit

Venture capitalist Steve Jurvetson fired back at his former DFJ partners and denied any sexual harassment on his part, one day after the Silicon Valley firm he co-founded announced he would step down under a "mutual agreement."

White House Weighs Former Pimco CEO El-Erian for Fed Vice Chairman

The White House is considering economist Mohamed El-Erian as one of several candidates to potentially to serve as the Federal Reserve's vice chairman.

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Default in Venezuela: What's Next

Venezuela has been falling behind on debt payments in its prolonged economic crisis. The country has said it wants to restructure its remaining debt, but observers say Venezuela's debt crisis could be one of the most complicated in history.

Fed's Bullard Repeats Opposition to Rate Rises

Federal Reserve Bank of St. Louis President James Bullard reiterated his long-held belief that weak inflation means the central bank shouldn't be contemplating another rise in interest rates.

Fed's Bostic: Gradual Rate Rises Appropriate Over Next Several Years

Federal Reserve Bank of Atlanta President Raphael Bostic said Tuesday the U.S. central bank should press forward with interest-rate rises.

BOE's Cunliffe Says He Voted Against Rate Rise on Weak Wage Growth

Jon Cunliffe, deputy governor for financial stability at the Bank of England, said he voted against the U.K. central bank's November interest-rate increase because of weak wage growth.

SEC Rejects Exchanges' Request to Delay Surveillance Database

Wall Street's top overseer rejected a last-minute request from securities exchanges to delay a vast database of trading information billed as the most advanced defense against manipulation and bouts of market mayhem.

Wells Fargo Trims Small-Business Card-Processing Unit

Wells Fargo laid off about 50 employees as it continues to restructure its credit-card processing business geared toward small-business customers, a bank spokeswoman said.

CEOs on the Tax Plans: Watching the Details

While lawmakers craft tax-overhaul legislation, battling over corporate tax rates and rules for overseas income, corporate chiefs are sweating some of the smaller stuff.

(END) Dow Jones Newswires

November 15, 2017 07:15 ET (12:15 GMT)