News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bank of America to Give Employee Bonuses Following Tax Overhaul

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Bank of America is giving some employees $1,000 bonuses tied to the tax-overhaul bill, making it the latest company to announce such a perk since the legislation passed.

Why Michael Novogratz Halted His Bitcoin Hedge Fund

Michael Novogratz on Friday said that he was shuttering, for the time being at least, a highly anticipated cryptocurrency hedge fund that he'd planned to start this month.

CFPB Moves to Revise Rules on Prepaid Cards, Mortgage Data

The Consumer Financial Protection Bureau said it is delaying the rollout of its prepaid-card rule and reconsidering aspects of a 2015 mortgage-data disclosure rule, one of the first formal efforts to undo Obama-era regulations under its new Trump-appointed acting director.

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Brookfield Is Working to Restructure Bid for Mall Owner GGP

Brookfield Property Partners LP is working to restructure its offer for the shares of mall owner GGP Inc. that it doesn't already own, according to people familiar with the matter.

A Visit to the Latest Blockchain Stock: A Long Island Beverage Maker

Long Island Iced Tea, founded in 2011 as a maker of such drinks as peach and lemon iced tea, became a different company, changing its name to Long Blockchain.

Senate Confirms Robert Jackson, Hester Peirce to Join SEC

The Securities and Exchange Commission is on its way to a full slate of commissioners for the first time since 2015, after the Senate confirmed Democrat Robert Jackson and Republican Hester Peirce to join the commission.

Judge Sides Against Ackman and Valeant in Preliminary Allergan Ruling

A preliminary ruling from a federal judge against William Ackman, his hedge fund and Valeant in an insider-trading case could trigger a settlement between the activist investor and shareholders of Allergan.

Trump to Nominate Powell as Fed Chief Again After Senate Adjourns Without Vote

Donald Trump plans to nominate Jerome Powell again in the new year to serve as Federal Reserve chairman after the Senate ended its 2017 session this week without voting on the matter, a White House spokeswoman said.

Brexit Bet Casts Dark Cloud Over Light Sky Hedge Fund

A bad bet on Brexit has led to a painful December for one of this year's stand-out hedge-fund launches, the latest reflection of what is turning into another painful year for some of the industry's biggest names.

Bitcoin Plunges 25% in 24 Hours in a Cryptocurrency Market Rout

The price of bitcoin tumbled sharply, wiping one-fourth of its market value in the past 24 hours alone, as a wave of selling hit the broader cryptocurrency market just before the Christmas holiday weekend.

(END) Dow Jones Newswires

December 26, 2017 07:15 ET (12:15 GMT)