News Highlights: Top Financial Services News of the Day

03/01/18 07:15 AM EST
Powell Set to Testify Before Senate Panel on Interest Rates, Economy 

Federal Reserve Chairman Jerome Powell returns to Capitol Hill on Thursday for a second day of testimony, with investors eager for more on whether his bullish view of the U.S. economy might translate into a more aggressive approach to raising interest rates this year and beyond.

Senate Readies Rollback of Bank Rules 

The Senate is expected this month to approve the most significant rollback of postcrisis financial rules since Republicans took control of Washington last year.

Boom in Share Buybacks Renews Question of Who Wins From Tax Cuts 

U.S. companies are buying back their shares at an aggressive pace, stirring debates in Washington and on Wall Street about how savings from corporate tax cuts are being used and who benefits most.

Pension Funds Push Boards to Get Tougher on Sexual Harassment 

A powerful group of pension funds wants corporate boards to do a better job of fighting sexual harassment, following a recent wave of alleged misconduct that toppled top executives in several industries.

Schroders 2017 Profit Increases 

Schroders said that its 2017 profit rose 23% due to assets growth.

More Firings at Bank of America Amid Sexual-Misconduct Probe 

Bank of America fired at least two employees in its prime-brokerage unit as it expands an investigation into potential sexual misconduct in the business.

Jared Kushner's Ties to Banks Under Scrutiny 

The New York State of Department of Financial Services asked several banks for information about their relationships with Jared Kushner and his finances, people familiar with the information requests said.

Cryptocurrency Firms Targeted in SEC Probe 

The Securities and Exchange Commission has issued scores of subpoenas and information requests to technology companies and advisers involved in the red-hot market for digital tokens.

Deloitte's $150 Million Mortgage Headache 

Accounting firm Deloitte & Touche LLP agreed to pay $149.5 million to settle Justice Department allegations that it failed to head off a huge fraud at a mortgage company that collapsed during the financial crisis.

Bill Ackman Surrenders in His Five-Year War Against Herbalife 

The activist investor is ending his crusade against Herbalife Ltd., in what amounts to a bruising defeat in one of Wall Street's longest-running, most expensive and nastiest fights.


(END) Dow Jones Newswires

March 01, 2018 07:15 ET (12:15 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.