News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Chinese Banks Face Potential Capital Shortfall, IMF Says

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Chinese banks may have insufficient capital to weather potential losses from the nation's rapidly mounting credit risks, the International Monetary Fund said, in a broad review of China's financial system.

Australia Banks on Bitcoin Tech to Keep Tabs on Stocks

Australia's main securities exchange is betting on the record-keeping technology that underpins bitcoin to process stock trading in the country.

Citigroup Faces $20 Billion Hit From Tax Overhaul

Citigroup finance chief John Gerspach said the bank is likely to take a hit of about $20 billion to profits under the tax plans recently passed by Congress.

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Ernst & Young Promotes Kelly Grier to Run Its U.S. Business

Ernst & Young LLP named Kelly Grier as its new chairman and managing partner Wednesday, making her the first woman to lead the giant accounting and professional-services firm in the U.S.

House Republicans Weigh Linking Debt Ceiling Increase to Spending Bill

A group of House Republicans is considering pushing to raise the government's borrowing limit as part of the next long-term spending bill, a move that could help dispatch one of the thorniest issues for GOP lawmakers before next year's primary elections intensify.

Export-Import Bank Nominee Faces Crucial Senate Test

President Donald Trump's choice to lead the Export-Import Bank faces a crucial test as early as next week, with a Senate panel weighing a vote on his nomination. A majority vote against the troubled pick, Scott Garrett, could effectively end his candidacy.

Traders Want to Know What Exchanges Earn From Market Data

Some of Wall Street's biggest banks, asset managers and high-speed trading firms have united in a battle over a shared adversary: stock exchanges and the profit they earn from selling market data.

Westinghouse Creditors Criticize Marketing Process

Major creditors of Westinghouse Electric Co. say they are concerned that their interests are taking a back seat to corporate parent Toshiba Corp., as company advisers solicit bids for the business.

Goldman, Barclays Bust Into Jamie Dimon's Game

Goldman Sachs Group and Barclays will lend $20 billion to back CVS Health's takeover of Aetna, putting them into an exclusive club of big banks able to write checks of that size.

Hedge-Fund Titan on the Defensive Over Weinstein Ties

Hedge-fund billionaire Paul Tudor Jones took the unusual step of explaining his relationship with Harvey Weinstein, after a report indicated that Mr. Jones supported the disgraced Hollywood mogul as sexual harassment allegations unfolded earlier this year.

(END) Dow Jones Newswires

December 07, 2017 00:15 ET (05:15 GMT)