News Highlights: Top Financial Services News of the Day

12/04/17 11:15 AM EST
U.S. Accuses Chinese Banks, but Treads Lightly 

The Trump administration is struggling with how to pressure North Korea's top ally and patron-China-without alienating an economic powerhouse that is arguably the best hope to slow its rogue nuclear-weapons program.

Richmond Fed Selects Thomas Barkin as Next President 

The Richmond Fed has selected Thomas Barkin, a top executive at McKinsey & Co., as its next president and chief executive, the bank said.

Morgan Stanley Launches 'Robo' Advice Service 

Morgan Stanley has launched an automated-advisory service, the latest wealth-management firm to expand digital offerings in a bid for younger investors' assets.

Hartford to Sell Life Insurance Business Hit by Financial Crisis 

The Hartford Financial Services Group said it will sell an annuities operation that it has been winding down since 2012 to a group of investors, helping close the door on a painful chapter in the 207-year history of Hartford.

First U.S. Bitcoin Futures to Start Trading Next Week 

The first U.S. bitcoin futures will start trading next week, as dueling Chicago futures exchanges seek to cash in on surging investor interest in the digital currency.

SEC Takes First Enforcement Action Against Coin Offering Firm 

The SEC announced its first-ever enforcement action by its cyber unit against an initial coin offering, saying a Canadian firm violated U.S. securities laws in raising $15 million through this new, red-hot area of finance.

Chinese Online Lender Dianrong Eyes 2018 IPO, Could Raise at Least $500 Million, a Chinese online lending platform started and run by a co-founder of LendingClub Corp., is planning an initial public offering as soon as next year that could raise at least $500 million.

BOJ's Kuroda Says Rate Targets Are Appropriate 

Bank of Japan Gov. Haruhiko Kuroda reiterated that the central bank's current interest-rate targets are appropriate, in the latest attempt to play down speculation about an early tightening.

Why Central Banks Continue to Put Asset Prices Out of Whack 

Even as the world's central banks edge away from the extraordinary policies of the past decade, huge market distortions remain. The unwinding of years of easy money will continue to puzzle investors.

Indian Central Bank Expected to Keep Rates Unchanged 

India's central bank is expected to keep its key lending rate unchanged this week amid concern inflation rates could be edging up again.


(END) Dow Jones Newswires

December 04, 2017 11:15 ET (16:15 GMT)

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