News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Merrill Lynch's 2018 Pay Plan Spurs Some Dissent in Broker Ranks

Continue Reading Below

Merrill Lynch's pay plan for 2018 is stirring opposition among some veteran brokers, underscoring tensions in an industry that faces growing competitive pressure and an aging workforce.

PayPal Makes Growth Play as Market Cap Nears $90 Billion

PayPal said it agreed to sell Synchrony Financial nearly $6 billion in loans it made to online shoppers, a deal that will give the payments company significant cash that it can use for acquisitions or share buybacks.

Chinese Banks Find a Convertible Solution to Capital Problem

Struggling midsize banks that need to raise equity are turning increasingly to the convertible-bond market.

Continue Reading Below

3i Forecasts Continued Strong Growth

3i Group reported an 8% rise in its net asset value per share in the first half of the year and said it was on track to deliver another year of strong growth in its private-equity portfolio.

The Fed is Poisoning the Market. Here's the Antidote.

The Fed's communication strategy is encouraging bad risk taking and complacency. It's time to give the market a real surprise, says columnist James Mackintosh.

Fed's Rosengren Says Data Favors a December Rate Increase

Federal Reserve Bank of Boston President Eric Rosengren said the economy's expected path means the U.S. central bank will need to keep raising rates and will likely need to act again next month.

Low-Inflation Risk Motivated Bank of Canada's Caution on Rates: Wilkins

The risk posed by low inflation and concern about households immediately paring back spending after two recent rate increases helped motivate the Bank of Canada to embrace a cautious approach in future policy decisions, Carolyn Wilkins, the central bank's senior deputy governor, said Wednesday.

Activist Peltz Narrowly Wins P&G Board Seat, New Count Shows

Activist investor Nelson Peltz won a proxy fight for a board seat at Procter & Gamble by a slim 43,000 vote margin, a preliminary report says, weeks after the company had declared victory in fending off his bid.

CFPB Head Cordray to Step Down, Paving Way for Change at Watchdog

Richard Cordray, the first head of a consumer regulator created after the financial crisis, plans to leave at the end of November, ending a tumultuous six-year tenure and paving the way for President Donald Trump to restructure the agency.

Republican Sen. Ron Johnson Opposes GOP Senate Tax Package

Sen. Ron Johnson, a Wisconsin Republican, said he opposes the Senate GOP tax package, saying it unfairly benefits corporations more than other types of businesses. His position could undermine the Senate's efforts to pass a tax plan by early December.

(END) Dow Jones Newswires

November 16, 2017 11:15 ET (16:15 GMT)