News Highlights: Top Financial Services News of the Day

12/07/17 07:15 AM EST
Bitcoin Tops $15,000 for the First Time 

The price of bitcoin topped $15,000 for the first time on Thursday, in a fresh rally that is hitting new highs every day.

HSBC's Second-Largest Shareholder Is Now From China 

One of China's biggest insurers has become the second-largest shareholder of HSBC Holdings, but it won't influence how the U.K.-based bank is run, HSBC's departing Chief Executive Stuart Gulliver said.

Making Credit Suisse Swiss Again 

Two years into its overhaul,Credit Suisse has returned to its Alpine roots by building up its Swiss unit and, more important, expanding the management of wealthy clients' money, long a staple of Swiss banks.

Visa Spent a Year Developing a 'Signature Sound' 

Visa is launching a signature sound people will hear when they make a payment through a mobile device or at a cash register. Some options were eliminated for sounding 'angry' or eliciting 'visceral reactions.'

Hackers Steal $70 Million in Bitcoin 

Nearly $70 million worth of bitcoin was stolen from a cryptocurrency-mining service called NiceHash following a security breach, causing the company to halt operations for at least 24 hours.

Chinese Banks Face Potential Capital Shortfall, IMF Says 

Chinese banks may have insufficient capital to weather potential losses from the nation's rapidly mounting credit risks, the International Monetary Fund said, in a broad review of China's financial system.

BOJ's Kuroda Flags Factors Underlying Appropriate Pattern of Interest Rates 

Bank of Japan Gov. Haruhiko Kuroda said Thursday that the current pattern of interest rates and yields was appropriate, in the latest attempt by the central bank to tamp down speculation it has become concerned that ultralow interest rates may be causing damage to the banking system.

Australia Banks on Bitcoin Tech to Keep Tabs on Stocks 

Australia's main securities exchange is betting on the record-keeping technology that underpins bitcoin to process stock trading in the country.

Citigroup Faces $20 Billion Hit From Tax Overhaul 

Citigroup finance chief John Gerspach said the bank is likely to take a hit of about $20 billion to profits under the tax plans recently passed by Congress.

Ernst & Young Promotes Kelly Grier to Run Its U.S. Business 

Ernst & Young LLP named Kelly Grier as its new chairman and managing partner Wednesday, making her the first woman to lead the giant accounting and professional-services firm in the U.S.


(END) Dow Jones Newswires

December 07, 2017 07:15 ET (12:15 GMT)

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