What's News: Business & Finance -- WSJ

Features Dow Jones Newswires

This article is being republished as part of our daily reproduction of WSJ.com articles that also appeared in the U.S. print edition of The Wall Street Journal (December 8, 2017).

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Bitcoin mania reached new highs Thursday as the price of the digital currency jumped about 40% in about 40 hours, surging past the $16,000 mark.

Some big banks are telling customers they won't offer them access to the first bitcoin futures market when it goes live on Sunday.

GE will cut 12,000 jobs in its power business, or nearly 18% of the unit's workforce, as the company slashes costs and battles overcapacity.

Global finance officials agreed on banking rules for how to measure the riskiness of lenders, the last piece of the Basel III package.

Hospitals, universities and nursing homes across the U.S. are rushing to borrow money tax-free amid the tax-overhaul drive in Congress.

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Family-owned businesses are worried that tax legislation could leave them at a disadvantage to big corporations and other rivals.

Yu'e Bao, the world's largest money-market fund by assets, will limit the daily amount that individuals can invest in it.

A Caterpillar unit admitted that it cheated customers by performing unnecessary repairs to their rail cars, court documents show.

Shares of Boeing and other industrial firms pushed major indexes higher. The Dow gained 70.57 to 24211.48.

Morgan Stanley fired an ex-congressman as a senior adviser to the firm after investigating a claim of inappropriate conduct.

(END) Dow Jones Newswires

December 08, 2017 02:47 ET (07:47 GMT)