News Highlights: Top Financial Services News of the Day
Australia's Central Bank Keeps Interest Rates on Hold
The Reserve Bank of Australia on Tuesday left interest rates unchanged at a record low 1.5% at its first policy meeting for 2018, as it awaits signs of wage growth which are currently at their lowest level in 20 years.
Rout in Stocks Jolts Traders Used to Heady Days of 2017
When stocks were soaring regularly to highs, many traders said they welcomed a healthy pause after such a rapid climb. But the crushing market rout on Monday was far worse than anything they had in mind.
Market Rout Shatters Lull in Volatility
Volatility roared back into the stock market Monday, rattling traders and wrong-footing scores of investors caught wagering that share-price swings would remain muted.
Investment Firms Suffer Website Outages
The websites and mobile applications of discount brokerages, mutual-fund firms and digital advisers suffered outages and slowdowns, unnerving individual investors trying to access their accounts during .
Market Turmoil Greets New Federal Reserve Chairman
Jerome Powell spent his first day as chairman of the Federal Reserve sizing up the largest stock selloff in 6 1/2 years and the largest one-day point decline on record.
Fed Rebuke Costs Wells Fargo About $29 Billion in Lost Market Value
The stock slumped 9.2% after the Federal Reserve cast it into a regulatory purgatory and limited the bank's ability to expand its business.
Lenders Expect to Ease Standards for Large Business Loans in 2018
Lenders expect to ease underwriting standards for business loans to large companies in 2018 but tighten standards for commercial real-estate and some consumer loans, according to a Federal Reserve survey released Monday.
Lawmaker Seeks Probe into Fake Comments on Payday-Lending Rule
The top Democrat on the House Energy and Commerce Committee asked the Trump administration to investigate fake online comments uncovered by The Wall Street Journal on a rule to restrict high-interest payday lending
Trump Soon to Nominate Tax Lawyer Charles Rettig to Run IRS
President Donald Trump will nominate Charles Rettig, a California tax lawyer, to run the Internal Revenue Service, a person familiar with the matter said Monday.
Bitcoin Lawyer Marco Santori Moves From Law Firm Cooley to Startup
Marco Santori, a partner at the law firm Cooley LLP and one of the best-known lawyers in the digital-currency sector, is leaving to become president of bitcoin-services company Blockchain.
(END) Dow Jones Newswires
February 06, 2018 00:15 ET (05:15 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.