News Highlights: Top Financial Services News of the Day

By Wall Street custom, private-equity firms rarely "go hostile" on a company they seek to acquire. That's what makes Silver Lake Management's decision to back Broadcom's $105 billion hostile takeover bid for rival chip maker Qualcomm all the more remarkable. Features Dow Jones Newswires

Private-Equity Firm Silver Lake Plays Rare Role: Predator

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Bank Stocks Can Fight the Fed, for Now

At some point, higher interest rates may become a negative for banks, but not for a while. Despite the flattening of the yield curve, banks' net interest margins have been rising, and their stocks have fared well.

Dollar Scarcity Sends Global Funding Costs Soaring

The cost of derivatives that allow European investors to access U.S. dollars has rocketed this week, with some reaching their steepest levels since the worst days of the eurozone sovereign-debt crisis.

Tax Overhaul Would End Breaks for Executive Pay

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A decades-old corporate tax break for performance-based pay of top executives faces elimination under the current tax bill, as Republican lawmakers say it has failed to encourage responsible management.

Young CEO Reshapes 140-Year-Old Metals Exchange

Matthew Chamberlain's appointment placed the 35-year-old former banker atop an institution that plays a powerful role in setting metals prices-yet is lagging behind more modern rivals in electronic trading at a time of stagnant trading volumes.

You Can Thank Mr. Watanabe for Bitcoin's Explosive Rally

Japanese traders who historically engaged in trading real currencies have turned their sights to cryptocurrencies such as bitcoin, driving prices higher.

Harvard Agrees to Spin Out Real-Estate Team to Bain

Harvard University's endowment reached an agreement to spin out its direct real estate investment team into a new business for Boston private-equity firm Bain Capital.

China's Central Bank Expands Commercial Bank Lending

China's central bank is expanding its supply of funds to domestic lenders facing shortages of liquidity for their clearing businesses.

China's HNA Starts Bond Buyback to Ease Investor Worries

HNA said it bought back some of its bonds following recent price declines, another attempt to calm investors' concerns about its liquidity and financing pressures.

All Regional Fed Banks on Board With Wednesday's Discount-Rate Increase

All 12 of the Federal Reserve's regional reserve banks have requested to raise the discount rate to 2%.

(END) Dow Jones Newswires

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