News Highlights: Top Financial Services News of the Day
Europe Seeks Crack Down on Brexit Bank Arbitrage
The ECB should take charge of regulating big investment banks in the eurozone, according to a proposal to be presented by the European Commission, the latest move to stop individual European countries from luring Brexit-hit banks with the promise of looser rules.
SoftBank Leads $120 Million Funding Round for Insurance Startup Lemonade
Insurance company Lemonade said Tuesday it has raised $120 million in an investment round led by Japan's SoftBank.
China Wants Raters to Keep Quiet on Money-Market Fund Sizes
A Chinese quasi-regulator told the country's top raters of investment funds to stop publicizing the sizes of money-market mutual funds, in what is being seen as another attempt by Beijing to slow the industry's rapid pace of asset accumulation.
Cryptocurrency Exchange Collapses, Files for Bankruptcy After Second Hack
A cryptocurrency exchange in South Korea collapsed after it suffered a second cyberattack in eight months and lost a large amount of its digital-currency reserves.
Which Digital Currency Will Be the Next Bitcoin?
Investors in cryptocurrencies are hoping lightning strikes twice, as the outsize recent gains in bitcoin are encouraging migration to several digital relatives. Litecoin is especially benefiting from bitcoin's surging popularity.
The Flawed Bull Case for Bitcoin
Even after taking full account of its technological advantages, the argument for bitcoin to keep rallying still falls apart.
Fintech Startups Seek to Shake Up Money Transfer Industry
Fintech startups including WorldRemit, TransferWise and Remitly are pulling ahead of the pack of dozens of companies trying to disrupt the remittance industry, using the latest technology to send money internationally.
A Massive Margin Loan That Went Really Wrong for the Banks
Steinhoff International's share collapse shows the dangers for banks in the fast-growing stock-based lending business.
Activist Investors' Role Needs More Transparency, SEC Nominee Says
Robert Jackson, a Democratic nominee to join the Securities and Exchange Commission, called for the Wall Street regulator to wade more aggressively into the fights between activist shareholders and the companies they target.
Activist Starboard Value Buys 9.9% Stake in Cars.com
Activist investor Starboard Value LP bought a 9.9% stake in Cars.com Inc. on the belief the stock is undervalued by a market that is betting heavily against it and ignoring the potential for a sale.
(END) Dow Jones Newswires
December 19, 2017 11:15 ET (16:15 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.