News Highlights: Top Global Markets News of the Day

Features Dow Jones Newswires

Sweeping Tax Bill Heads to Trump for Signature

Continue Reading Below

The most sweeping changes to the tax code in more than 30 years are on the way to President Donald Trump for his signature after the House passed a $1.5 trillion tax cut for a second time, ratifying minor changes made by the Senate.

Tax Bill Injects Calm Into Markets

U.S. stocks swung between small gains and losses after the Senate passed the largest structural overhaul of the U.S. tax system in three decades.

How Trump, GOP Forged Landmark Tax Plan

Wednesday's expected final passage of a tax bill that will touch virtually every American business and family in many ways rose from the wreckage of the Republican effort to set up a new health-care system. The defeat of the health-care bill hung over the tax legislation efforts, shaping the strategy used to pass it and mobilizing Republicans eager to show they could govern.

Continue Reading Below

Saudi Arabia Searches for U.S. Shale-Oil Deal

Saudi Arabia is hunting for an energy deal in American shale country, as economic upheaval pushes it to seek its first international oil-and-gas production investments.

North Korea Is Suspected in Bitcoin Robbery

Investigators in South Korea are looking into North Korea's possible involvement in a heist from a bitcoin exchange that collapsed here on Tuesday, according to people familiar with the situation, as the regime develops new ways to circumvent sanctions and raise money.

U.S. Existing-Home Sales Jumped in November

Sales of previously owned U.S. homes rose in November to the strongest pace in more than a decade, the National Association of Realtors said Wednesday.

U.S. Oil Inventories Fall as Refinery Activity Quickens

U.S. inventories of crude oil fell by 6.5 million barrels, more than twice what was expected, for the week ended Dec. 15 as refinery activity sped up, according to EIA data.

OCC's Otting to Make Simplifying Bank Rules One of Top Priorities

U.S. Comptroller of the Currency Joseph Otting will make simplifying bank rules one of his top priorities in the coming year, he said in his first press briefing since taking office at the end of November.

China Shapes Economic Blueprint Around 'Xi Jinping Thought'

The first economic blueprint unveiled in President Xi Jinping's second term highlighted a theory bearing Mr. Xi's name and emphasized innovation and "high-quality" growth. There were few signs Beijing will aggressively tackle crippling debt levels.

Risky Plan to Keep London as Europe's Financial Hub

London's position as Europe's financial center after Brexit is definitely under threat. The Bank of England is doing its bit to protect its status, but risks leaving itself at the back of the queue when banks get into trouble.

(END) Dow Jones Newswires

December 20, 2017 13:15 ET (18:15 GMT)