News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Europe's Central Banks Still Cautious on Recovery

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Central banks in Europe are expected to show continued caution about the region's economic recovery, signaling that they are in no rush to follow the Federal Reserve in steadily raising interest rates.

The Fed Isn't the Tax Cut's Enemy

Comments by Federal Reserve officials suggest they aren't standing in the way of any boost that the Republicans' $1.4 trillion tax cut delivers.

Bringing Back the Money-Fund Buck?

A fight is brewing over whether to reverse rules meant to prevent another crisis-triggered exodus from a corner of the mutual-fund industry, the latest front in a broad push to undo postcrisis regulations.

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Wells Fargo Trims Staff in Its Giant Mortgage Unit

Wells Fargo laid off about 60 employees in its mortgage division as the bank continues to reshuffle parts of its business following heightened regulatory scrutiny.

UBS Names New Wealth-Management Chief

UBS appointed a new chief for its $1.1 trillion international wealth-management unit, a division that has been a key driver of the bank's earnings but faces competition from rivals including Credit Suisse.

Santander to Buy Deutsche Unit in Poland

Santander and its Polish subsidiary said that they have agreed to acquire Deutsche Bank's retail and private banking business in Poland for EUR305 million.

Australian Regulator Deepens Compliance Case Against Commonwealth Bank

Commonwealth Bank of Australia faces fresh allegations of failed compliance that the country's financial-intelligence agency claims links bank accounts with money laundering by crime syndicates and drug dealers, and customers suspected of financing terrorism.

China's LexinFintech Shrinks IPO Fundraising Goal

LexinFintech, a Chinese online lender that is planning to go public in the U.S., scaled back its fundraising ambitions after regulatory changes in China sparked a rout in shares of similar companies.

Fed Raises Rates, Sticks to Forecast for 2018 Increases

The Federal Reserve said it would raise short-term interest rates for the third time this year and remained on track to chart a similar path next year, signaling continuity as the central bank enters a leadership reshuffle.

Yellen: No Big Differences Between Her, Powell on Bank Rules

Federal Reserve Chairwoman Janet Yellen doesn't expect the Fed will dramatically depart from its current course on bank rules after she leaves early next year.

(END) Dow Jones Newswires

December 14, 2017 07:15 ET (12:15 GMT)