News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Plans to Disclose More About Big-Bank Stress Tests

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The Federal Reserve proposed disclosing more about its big-bank stress tests, in response to criticism from bankers who have said the exams' results are hard to understand.

Global Bank Battle Over Basel III Finally Concludes

Global finance officials on Thursday agreed on long-awaited banking rules that reach a compromise between opposing European and U.S. views about how to measure the riskiness of lenders.

Wall Street Banks Hit Pause Button on Bitcoin

As investors rush into bitcoin, some big Wall Street banks are hitting the brakes ahead of the launch of the first bitcoin futures market, which is set to go live on Sunday.

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Morgan Stanley Fires Harold Ford Jr. After Conduct Complaint

Morgan Stanley has fired former congressman Harold Ford Jr. as a senior adviser to the firm after investigating a claim of inappropriate conduct.

World's Largest Money-Market Fund Slows the Flow

Yu'e Bao, a $235 billion online fund run by an Alibaba affiliate, is limiting the daily amount individuals can invest in it after its rapid growth caught the attention of China's securities regulator.

Bitcoin's Wildest Rise: 40% in 40 Hours

Bitcoin mania reached new highs as the price of the digital currency jumped about 40% in about 40 hours, smashing through five separate $1,000-barriers and surging past the $16,000 mark.

HSBC's Second-Largest Shareholder Is Now From China

One of China's biggest insurers has become the second-largest shareholder of HSBC Holdings, but it won't influence how the U.K.-based bank is run, HSBC's departing Chief Executive Stuart Gulliver said.

U.S. Hospitals, Schools Rush to Raise Tax-Free Funds

Hospitals, universities and nursing homes across the U.S. are rushing to borrow money tax-free as Congress debates whether to do away with long-held tax exemptions on these bonds beginning Jan. 1.

U.S. Consumer Credit Increased by $20.52 Billion in October

Outstanding consumer credit rose by $20.52 billion in October from the prior month, climbing at a 6.51% seasonally adjusted annual rate, the Federal Reserve reported.

Visa Spent a Year Developing a 'Signature Sound'

Visa is launching a signature sound people will hear when they make a payment through a mobile device or at a cash register. Some options were eliminated for sounding 'angry' or eliciting 'visceral reactions.'

(END) Dow Jones Newswires

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