News Highlights: Top Financial Services News of the Day

12/07/17 11:15 AM EST
World's Largest Money-Market Fund Caps Daily Investment 

The world's largest money-market fund is limiting the daily amount individuals can invest in it, taking further steps to slow inflows after Chinese regulators raised concerns about its rapid growth.

Bank Battle Over Basel III Goes to Final Round 

Global finance officials are expected to agree on long-awaited banking rules that reach a compromise between opposing European and U.S. views about how to measure the riskiness of lenders.

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.

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.

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.

U.S. Hospitals, Schools Rush to Raise Tax-Free Funds 

Hospitals, universities and nursing homes across the U.S. are rushing to borrow money tax-free as Congress debates whether to do away with long-held tax exemptions on these bonds beginning Jan. 1.

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.'

Making Credit Suisse Swiss Again Drives Its Turnaround 

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.

There Are No Good Reasons to Buy Stocks 

Why buy stocks now? If the market is to keep on rising, there will need to be new answers, and the tax cut isn't one of them.

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.


(END) Dow Jones Newswires

December 07, 2017 11:15 ET (16:15 GMT)

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