News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Buffett Promotes Two Executives, Setting Up Contest to Succeed Him

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Warren Buffett has elevated two longtime Berkshire Hathaway executives, Gregory Abel and Ajit Jain, to vice chairman roles, all but confirming speculation that one of them is in line to replace him.

BIS, IMF Tussle Over Central Bank Role in Productivity Slowdown

Have central banks contributed to a worrying slowdown in productivity by keeping interest rates too low? That is one question puzzling leading economists, with differences of opinion emerging between two of the big international financial institutions.

Bitcoin Powers Big Returns for a Pair of ETFs

Bitcoin boosted the returns of two of the top-performing exchange-traded funds last year, signaling that some fund companies aren't waiting for regulators to approve a U.S. fund devoted exclusively to the cryptocurrency.

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Earnings May Temper the Bank Rally

Bank shares have been riding high, seen by investors as among the biggest beneficiaries of tax reform and a strengthening economy. But this enthusiasm could soon collide with just mediocre fundamentals.

'Fiduciary Rule' Poised for Second Life Under Trump Administration

The Trump administration's threat to dismantle Obama-era rules that cracked down on conflicted advice from stock brokers won't mean no rules at all. Instead, they could emerge from a different regulator who Wall Street knows a little better.

What the Tax Law Will Do to Bank Earnings

It is going to be a noisy quarter for bank earnings. Because of the tax-overhaul law, big banks are going to record a host of special charges that cut into fourth-quarter profit.

Is the Great Bond Blowout Finally Happening?

The bond market has had an early alarm call in 2018. The 10-year U.S. Treasury yield has risen to its highest since March; bond guru Bill Gross says the move confirms a bear market. Bonds still have support, but that could erode quickly.

AmTrust Financial Founding Family Proposes Taking Insurer Private

The founding family of AmTrust Financial Services Inc. has proposed taking the workers' compensation insurer private, potentially capping a series of deals and cash infusions in a bid to strengthen the company's financial position.

Goldman Sachs to Invest in Bankrupt Real Industry Inc.

Goldman Sachs Group Inc. plans to lend $4 million to bankrupt Real Industry Inc. and to eventually spend about $10 million to buy common stock in the publicly traded company, which is sitting on almost $1 billion in potential tax benefits.

Fed's Kashkari Renews Warning About Yield-Curve Flattening

Federal Reserve Bank of Minneapolis President Neel Kashkari said a tug of war between the views of central bankers and investors has created an ominous economic signal in the bond market.

(END) Dow Jones Newswires

January 10, 2018 11:15 ET (16:15 GMT)