News Highlights: Top Financial Services News of the Day
Bitcoin Is Falling Fast, Losing More Than Half Its Value in Six Weeks
Bitcoin plunged below $8,000, extending its sharp rout since the start of the year in a selloff triggered by a widening regulatory crackdown on cryptocurrencies.
Deutsche Bank Posts Big Loss on Weak Trading, Tax Charge
Deutsche Bank reported a $2.7 billion net loss for the fourth quarter and its third consecutive full-year loss, sending its shares sharply lower.
Deutsche Bank Fined for Attempting to Manipulate Interest-Rate Benchmarks
The Commodity Futures Trading Commission imposed a $70 million penalty on Deutsche Bank Securities as regulators continue to punish attempted manipulation of interest-rate benchmarks.
China's Bad Banks Face a Case of Indigestion
Distressed-debt asset managers are helping give Chinese banks' share prices a boost by buying their soured loans. But just how much can they absorb?
Charity Funds Take Off as Tax Law Reshapes Giving
U.S. taxpayers late last year flooded into charitable-giving vehicles known as donor-advised funds that distribute to nonprofits over time, a sign that the new tax law could reshape how Americans give away money for years to come.
BOJ Says Fixed Operation Shows Firm Implementation of Current Policy
The Bank of Japan said its action in the market Friday to cap rises in bond yields was consistent with the central bank's current easy monetary policy.
Volatility Is Back...in Currencies
The Deutsche Bank Currency Volatility Index, which measures investors' expectations for swings in nine major currency pairs over the next three months, surged to a four-month high this week. Just three weeks earlier, that index was sitting at its lowest level in nearly four years.
Trump Administration Shuffles CFPB's Lending-Discrimination Operations
The Consumer Financial Protection Bureau's lending-discrimination office, which handled some of the agency's highest-profile cases, has been placed under the direct control of acting director Mick Mulvaney.
Visa's Revenue and Profit Rise
A rise in card spending from increasingly confident consumers helped Visa Inc. beat revenue expectations for the first quarter of its fiscal year.
Alibaba Snags Ant Stake in Possible Prelude to Public Offering
Alibaba said it will acquire a 33% stake in its financial services affiliate Ant Financial Services Group, in a move that could signal that Ant is being readied for a public offering.
(END) Dow Jones Newswires
February 02, 2018 11:15 ET (16:15 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.