News Highlights: Top Financial Services News of the Day

03/07/18 12:15 AM EST
Fed's Brainard Sees Rate Rises as Appropriate as Inflation Firms 

Federal Reserve governor Lael Brainard said she has become more confident inflation will hit the central bank's target, allowing officials to continue raising interest rates gradually.

Royal Bank of Scotland Settles Over Mortgage Securities 

Royal Bank of Scotland reached a $500 million settlement in New York over the bank's misrepresentations to investors about the quality of home loans it packaged into mortgage-backed securities at the height of the housing boom.

What Bust? European Banks Are Loading Up On Real Estate 

With the economy growing and most of their balance sheets finally restored to health, many European banks are boosting real-estate loan volume and competing aggressively on rates.

S&P Global Buys Startup in Artificial-Intelligence Push 

S&P Global said it will buy technology startup Kensho Technologies-its second investment in the artificial intelligence space this year.

Alexis Ohanian's VC Firm Invests in Crypto Trading Platform 

Initialized Capital, the venture-capital firm co-founded by Alexis Ohanian, has invested $2.1 million in a startup cryptocurrency trading platform, DDEX.

NYSE to Pay $14 Million Over 2015 Trading Malfunctions 

The New York Stock Exchange agreed to pay $14 million to settle regulatory investigations into a series of market malfunctions and snafus that disrupted trading on three occasions in 2015.

BOE's Haldane Slams Central-Bank Speak, Promises to Listen 

Much of what central bankers say and write is incomprehensible to most people, a practice that undermines public trust in policy makers, said Andy Haldane, the Bank of England's chief economist.

Big Banks Get a Big Win in Senate Rollback Bill 

Bipartisan legislation expected to clear the Senate as early as this week has just one provision that is set to directly benefit the nation's megabanks: A section aimed at making it easier for them to buy state and local bonds.

Former Co-op Bank Chairman Flowers Banned From Financial Services 

Paul Flowers, the former chairman of Co-operative Bank PLC, has been banned from the financial services industry in the U.K. for misconduct that included discussing drug deals over work email, the Financial Conduct Authority said.

New Powers Come With Pressure for Europe's Central Bank 

The European Central Bank is being dragged into local controversies over issues ranging from banking scandals to bribery, underlining the mounting political pressures on the world's No. 2 central bank as it takes on a vastly expanded role.


(END) Dow Jones Newswires

March 07, 2018 00:15 ET (05:15 GMT)

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