News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bitcoin Isn't a Currency, It's a Commodity-Price It That Way

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Bitcoin enthusiasts call it a currency, but it has a lot in common with gold. And if bitcoin is a digital precious metal, investors should start pricing it that way, by watching the fundamentals.

Merrill Lynch Bars Trading of Bitcoin Fund, Futures

Merrill Lynch has blocked clients and financial advisers who trade on their behalf from buying bitcoin, citing concerns over the cryptocurrency's investment suitability.

The Challenge for Vanguard's New CEO: Keep a Behemoth Growing

Vanguard's new chief executive, Mortimer J. "Tim" Buckley, has a challenge his three predecessors didn't: How to how to grow a firm that is already the world's second largest investment manager.

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Ex-Och-Ziff Deal Maker Faces Charges in Alleged African Bribery Scheme

, once a highflying deal maker at hedge-fund giant Och-Ziff Capital Management Group LLC, is facing criminal charges in connection with an alleged scheme that yielded one of the largest foreign bribery settlements in U.S. history.

Fed Minutes Show Debate Over Pace of Rate Rises, Yield-Curve Signals

Minutes of the Fed's December meeting showed officials are largely committed to gradually raising interest rates in the years ahead, but coming tax cuts and low inflation made the pace of those rate increases uncertain.

Why Asia's Booming Bond Market Doesn't Need the U.S.

Asia's reliance on American investors to buy its bonds is waning as governments and companies are now able to raise more money closer to home.

Fidelity Moves Brian Hogan Out of Equity Division

The president of Fidelity Investments' equity division is moving to a new role within the fund giant's personal investing business later this quarter, leaving a post he has held since 2009.

As 'Mifid' Regulations Roll Out, Bond Volumes Fall

Trading in some bonds fell sharply in Europe as banks implemented the massive set of new finance regulations known as Mifid II.

Why Alibaba's Jack Ma Can't Seem to Win Over the U.S.

Ant Financial's failed bid to acquire Dallas-based MoneyGram was the latest in a string of setbacks for the Chinese billionaire, whose companies have long sought to establish beachheads in America.

The Cashless Society Has Arrived-Only It's in China

Mobile payments have surged to some $9 trillion a year, way ahead of the U.S., changing how people shop, borrow-and even panhandle. The growth foretells a future where tech firms like Alibaba and Tencent drive innovation in finance.

(END) Dow Jones Newswires

January 04, 2018 07:15 ET (12:15 GMT)