News Highlights: Top Financial Services News of the Day

02/05/18 07:15 AM EST
Banks Double Down on Branch Cutbacks 

Banks are closing branches at the fastest pace in decades, as they leave less profitable regions and fewer customers use tellers for routine transactions.

Asset Growth in the World's Largest Money-Market Fund Slows Sharply 

Asset growth in the world's largest money-market fund hit a plateau at the end of 2017, following a series of measures by the fund's manager to control its swelling size.

Saudi Campaign Seeks to Calm Investors Shaken by Anticorruption Drive 

The Saudi government is embarking on a campaign of damage control after the abrupt detentions of wealthy businessmen spooked the foreign investors it needs to diversify its economy.

Great Eastern Holdings in Talks With Malaysia's Largest Pension Fund 

Singapore-based insurer Great Eastern Holdings is in exclusive talks with Malaysia's largest pension fund to sell it a minority stake in its Malaysian insurance unit, a deal that could fetch as much as $1 billion, according to people familiar with the discussions.

Why Older Kindergartners Should Run Your Mutual Fund (Someday) 

A study finds that fund managers who were older when they started kindergarten have tended to outperform those who started younger.

Zero-Fee ETFs (or Even Negative) Are on the Horizon 

A George Mason professor argues why zero-fee, or even negative-fee, ETFs could be here soon.

Wells Fargo Rebuke Puts Bank Boards in Fed's Crosshairs 

The Federal Reserve's unprecedented move to handcuff growth at Wells Fargo sent a message that boards of directors, not just management, will be held accountable when big banks fail to manage risks.

Challenges on Inflation Policy, Tax Cut Loom as Powell Era Begins at Fed 

The market's recent selloff crystallizes four challenges facing Jerome Powell, the Federal Reserve's new chairman, who takes charge Monday.

Bitcoin's Crashing? That Won't Stop Arbitrage Traders From Raking in Millions 

One of the oldest tactics on Wall Street is going viral in the world of digital currencies. The strategy, called arbitrage, is simple. If a something trades at different prices in multiple places, buy it where it's cheap and sell where it's dear.

JPMorgan to Banking Clients: Joint Health-Care Venture Is No Threat 

JPMorgan Chase & Co.'s employee health-care initiative with Amazon and Berkshire Hathaway raised worries among some of the bank's clients of a potential competitive threat.


(END) Dow Jones Newswires

February 05, 2018 07:15 ET (12:15 GMT)

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