News Highlights: Top Financial Services News of the Day
Julius Baer CEO Quits to Join Rival
The chief executive of Julius Baer has resigned to join one of its biggest rivals in an unexpected shake-up of the Swiss banking industry's highest ranks.
ECB Proposes Blueprint for Bad-Loan Trading Platform
The European Central Bank has sketched out a possible blueprint for a trading platform that could help eurozone banks to dispose of a mountain of sour loans.
Bitcoin Surges Past $9,000 in Fastest Thousand-Point Milestone
The price of bitcoin surged past $9,000 over the weekend for the first time, a rise of nearly 900% this year. Its rise is only getting faster.
Beijing is Making Its Most Serious Effort Yet to Tackle Its Financial-System Issues
New rules to crimp China's ballooning shadow banking system are a healthy step. The government must persist through any market fallout.
The Dow's Lightweight Title
GE stock has entrenched itself as the lowest-weighted component in the Dow.
Powell's Confirmation May Lack Drama of Other Fed Nominee Battles
Jerome Powell is likely to sail through confirmation to be the next Federal Reserve leader, even though the process of filling Fed positions has grown increasingly politicized since the days when Ben Bernanke was confirmed as chairman by a voice vote with little opposition.
Fed's Plan for 2017 Nears Completion, but View for 2018 Is Fuzzy
Fed officials are set to raise interest rates in December, delivering on their projections at the start of 2017 for three rate increases plus the start of the shrinking of their bond portfolio. But their chance for a repeat in 2018 is clouded by conflicting signals on employment and inflation.
CFPB Deputy Chief Sues Trump Over Agency Leadership
Leandra English, a career staffer appointed to lead the CFPB by former director Richard Cordray, filed the lawsuit in federal court the night before the bureau was set to reopen with dueling temporary leaders vying to take it over.
Highland Capital Used False Pretexts in Ousting of Portfolio Manager, Panel Finds
A panel found that fund management company Highland Capital used pretexts and false allegations of a sexual relationship with a subordinate to fire a portfolio manager without paying millions of dollars it owed him.
White House Says Former CFPB Chief Is Provoking a Conflict
A senior White House official criticized the former head of the Consumer Financial Protection Bureau for "provoking" a legal challenge, a day after the president and the CFPB named two different people to serve as temporary director, raising questions about the agency's leadership.
(END) Dow Jones Newswires
November 27, 2017 07:15 ET (12:15 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.