News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bitcoin Futures Prices Fall in CME Debut

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CME Group's new bitcoin futures fell on their first day of trading, as the Chicago-based exchange giant pushed forward into the rapidly expanding market for cryptocurrency derivatives.

Wells Fargo Names Mack Consumer Lending Head

Wells Fargo & Co. said Monday that Mary Mack will lead its consumer lending unit in addition to her current role overseeing the retail bank.

Activist Investors' Role Needs More Transparency, SEC Nominee Says

Robert Jackson, a Democratic nominee to join the Securities and Exchange Commission, called for the Wall Street regulator to wade more aggressively into the fights between activist shareholders and the companies they target.

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Activist Starboard Value Buys 9.9% Stake in Cars.com

Activist investor Starboard Value LP bought a 9.9% stake in Cars.com Inc. on the belief the stock is undervalued by a market that is betting heavily against it and ignoring the potential for a sale.

Investors Shell Out $700 Million for Coins With 'No Purpose'

One of the hottest cryptocurrency investments of 2017 comes from a software startup that doesn't plan to sell any software and describes what it is selling-something called a digital token-as having "no purpose."

Tax Bill Jolts Municipal-Bond Market

December is typically the sleepiest month in an already sedate municipal-bond world. But this year the prospect of a new tax bill roused the market to records.

Warren Buffett's Berkshire Hathaway Hits $300,000 a Share

Fifty-five years to the day after Warren Buffett bought his first shares of Berkshire Hathaway Inc., the company he built into a global powerhouse entered the $300,000 club. Membership: one.

Anonymous Email to Visa CEO Led to Top Executive's Firing

This fall, Visa CEO Alfred Kelly received a troubling, anonymous email: Jim McCarthy, one of his most senior executives, had been involved in romantic relationships with women at the card giant.

Fed's Kashkari Warns Rate Rises Could Drive Economy Into Recession

Minneapolis Fed President Neel Kashkari warned that bad things may lie ahead for the economy if his colleagues at the U.S. central bank press forward with interest-rate increases.

Fed's Williams: Economy Heading Into 2018 With Good Momentum

Federal Reserve Bank of San Francisco President John Williams said if the economy performs as he expects, the central bank is likely to steadily raise interest rates over the next couple of years.

(END) Dow Jones Newswires

December 19, 2017 00:15 ET (05:15 GMT)