News Highlights: Top Financial Services News of the Day
After Market Turmoil, Fed Officials Stand Firm on Rate Path
Federal Reserve officials signaled the recent spasm of market volatility isn't prompting them to rethink their path of interest-rate increases or upbeat economic outlook.
Trump Receives Oval Office Briefing on Derivatives Rules
President Donald Trump met with the top U.S. derivatives regulator, CFTC Chairman J. Christopher Giancarlo, in the Oval Office, amid tensions between American and European policy makers on their efforts to coordinate on postcrisis regulation.
Williams Reiterates Fed Should Continue With Rate Rises
San Francisco Fed President John Williams said an upbeat economic outlook calls for more interest-rate rises, in an appearance in Hawaii.
BlackRock's Larry Fink Wants to Become the Next Warren Buffett
BlackRock is looking to raise more than $10 billion that it would use to buy and hold stakes in companies, replicating the approach of Warren Buffett's Berkshire Hathaway.
Former Lawmaker Who Was Rejected as Ex-Im Bank Chief to Join SEC
Scott Garrett, a former Republican lawmaker known for criticizing what he considered government overreach by Wall Street regulators, has landed a senior role at the Securities and Exchange Commission.
Prudential Financial Sees Profit Boost From Tax Overhaul
Prudential Financial Inc. reported significantly higher fourth-quarter earnings, boosted by a benefit of $2.87 billion from the U.S. tax overhaul.
SoftBank in Talks to Buy Nearly a Third of Swiss Re
SoftBank Group is in advanced talks to buy a stake in reinsurance giant Swiss Re that could be worth $10 billion or more, in the latest example of the Japanese conglomerate's soaring ambitions.
What Stock Volatility Means for U.S. Consumers
The booming stock market of recent years helped propel U.S. consumers even as they struggled with tepid wage growth and a sluggish economy, but the market gyrations of recent days now threaten that dynamic.
Sen. Warren Says Passport Numbers Affected in Equifax Breach
Equifax failed to disclose that hackers gained access to consumers' passport numbers, according to a report from Sen. Elizabeth Warren's office. The company denied the findings.
Online Marketplace Linked to $530 Million in Fraud Shuts Down
Federal authorities shut down an online cybercrime forum they said was responsible for more than $530 million in fraud over seven years.
(END) Dow Jones Newswires
February 08, 2018 00:15 ET (05:15 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.