News Highlights: Top Financial Services News of the Day
Shell, Barclays Detail Billions in Tax-Linked Charges
Royal Dutch Shell and Barclays Bank said they would take large charges attributable to the U.S. tax overhaul-joining a parade of global firms in recent days disclosing how American tax-bill changes will affect their bottom line.
1MDB Makes Final Payment to Abu Dhabi Fund
The Malaysian state-investment fund said it has paid all that is required to be paid to Abu Dhabi's IPIC, its former business partner, by December.
Mitsubishi UFJ Seeks $4 Billion-Plus Deal for Indonesian Bank
Mitsubishi UFG Financial said it planned to take a majority stake in a midsize Indonesian bank, bolstering its presence in a fast-growing Asian nation to balance weakness in Japan.
Tax Law Could Further Slow Down a Bank Favorite: Jumbo Mortgages
The tax overhaul eliminates some benefits of homeownership, particularly for high-end homes. And the borrowers who buy those homes are exactly whom banks have been targeting.
China's Central Bank Ramps Up Oversight of Payment Services
The People's Bank of China is stepping up scrutiny of the third-party payments industry, as part of its effort to curb financial risk.
Exempting Small Banks From Volcker Rule Is Popular, but Not With Their Regulator
A Senate proposal to exempt thousands of small U.S. banks from the Volcker rule restrictions on speculative trading is winning broad support-except from the regulator that oversees most of those banks.
Can Central Banks Keep Control of Interest Rates?
Investors are elated by a booming global economy and the promise of central banks to tighten monetary policy only gradually. But a question haunts them: Will interest rates develop a mind of their own?
Investors Diving Into Risky Bank Bonds
Cocos are hot again. The junior bonds that are designed to help shore-up banks during a crisis are ending 2017 with yields near record lows but they can become risky in sudden and unexpected ways.
Tax Overhaul Could Jolt Dollar as Firms Bring Home Cash
A provision of the tax overhaul is expected to release a tide of U.S. corporate cash from abroad, a development likely to jolt the dollar and reverberate throughout financial markets early next year.
Credit Unions Want Permanent Say Over Regulator's Budget
A bill that could become law next year would require the U.S. credit-union regulator to submit its budget to public comment, a change that critics say gives the industry a platform for influencing its overseer.
(END) Dow Jones Newswires
December 27, 2017 07:15 ET (12:15 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.