News Highlights: Top Financial Services News of the Day

11/24/17 11:15 AM EST
CFTC Chief Works to Tweak, Not Decimate, Obama-Era Rules 

J. Christopher Giancarlo moved to the top job at the Commodity Futures Trading Commission this year from a minority commissioner's role, giving him a chance to push for changes on Obama-era derivatives regulations that he has criticized.

Out of Africa: KKR Disbands African Private-Equity Team 

KKR has disbanded its Africa deal team after making just one investment on the continent because it couldn't find enough big companies to buy.

Wall Street's 2017 Market Predictions: Pathetically Wrong 

As investors' inboxes once again become clogged with annual outlooks from Wall Street's scribblers, there is little admission of the nearly universal failure to predict what happened this year.

It's Not the Leverage, It's the Illiquidity That Will Hurt 

Too much short-term debt backing long-term assets fueled the last credit bubble a decade ago. This time round, investors are hunting for yield in hard-to-trade, often private assets.

The S&P 500 Record Run No One Saw Coming 

U.S. stocks are on the verge of a level few thought they would see this year: 2600 on the S&P 500.

Can't Wait Until Payday? Apps Give Instant Access to Wages 

Uber and McDonald's are among a growing group of employers giving workers near-instant access to their wages through apps. Daily payments can help some workers smooth out the financial volatility of fluctuating schedules, but could impair saving.

A New Thanksgiving Tradition: Chinese Stock Market Drops 

As ever this Thanksgiving, Americans came together to celebrate their shared traditions. One recent addition to that list: Watching the Chinese stock market collapse.

HSBC's Global Banking Co-Head Leaves After 18 Months 

HSBC's global banking co-head, Matthew Westerman, will leave after a turbulent 18 months at the bank, staff were told in a memo.

Fed Stumped on Inflation While Europe Plays It Cool 

A global puzzle is proving increasingly hard to solve: growth is good but inflation is weirdly low. How policy makers on opposite sides of the Atlantic view this conundrum is starting to drive a wedge in markets.

Investors Have Gotten Too Complacent on China Debt 

China is right that industrial capacity cuts are helping steel and coal firms to reduce debt and banking-sector risks. Investors are wrong to conclude the battle is won.


(END) Dow Jones Newswires

November 24, 2017 11:15 ET (16:15 GMT)

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