Wells Fargo, Other Banks Plan to Share Tax Windfall With Employees
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Bank profits are expected to get a huge boost from the tax bill that cleared Congress Wednesday, and a handful of lenders plan to use some of the proceeds to increase employee wages.
Bitcoin Price Plunges, Recovers as Bitcoin Offshoot Blasts Off
The launch of Bitcoin Cash sparked cries of insider trading and contributed to the price on the original bitcoin falling about $2,000 in less than an hour before recovering.
North Korea Is Suspected in Bitcoin Theft
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 sanctions-choked regime develops new ways to raise money.
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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.
U.K. Reassures EU Banks of 'Business as Usual' After Brexit
The Bank of England has moved to placate European investment banks in London, saying they likely won't be forced to build heavily-capitalized outposts in the U.K. after Brexit, the latest effort by British policy makers to maintain London's pre-eminence as a financial center.
Tax Cut Expected to Trigger Fannie, Freddie Infusion
Enactment of the Republican tax plan could trigger a roughly $14 billion accounting loss at Fannie Mae and Freddie Mac, leading to the first taxpayer-funded infusion since they became profitable firms in 2012.
Big Hedge Funds Want In on Bitcoin
Until recently, big-name hedge funds paid little attention to the digital currency. But the rollout of futures trading and soaring prices has some large firms considering whether it is time to wade into the market.
KKR Exits African Investment
KKR said it would sell a controlling stake in its first African investment, one month after the firm disbanded its Africa deal team because it couldn't find enough big companies to buy.
Big U.S. Banks Get Satisfactory Grades on 'Living Wills'
The eight largest and most complex U.S. banks received satisfactory grades on their latest "living will" bailout-prevention plans, a milestone that further reduces the already-remote possibility that any of the firms would be broken up by the government.
House Passes Bill to Revamp Criteria for 'Systemically Important' Banks
Regulators would have more discretion to decide which banks to target for stricter oversight under bipartisan legislation that House lawmakers approved Tuesday, the latest front in a broad push to ease postcrisis regulations.
(END) Dow Jones Newswires
December 21, 2017 00:15 ET (05:15 GMT)