China's Big Banks Cut Deposit Rates as Growth Plateaus

China's biggest banks are lowering the deposit rates offered to savers, a move that could pave the way for the central bank to make interest-rate cuts to spur economic growth. 


 
Wells Fargo Workers in Albuquerque Vote to Form Union, a First for a Megabank

Workers voted 5-3 in favor of unionizing, and those in other branches have said they intend to hold votes. An Alaska branch is expected to vote Thursday. 


 
Elon Musk tells Cathie Wood he wants to make X a 'giant brain' and financial platform

Musk spoke in a wide-ranging, 100-minute interview with Cathie Wood, chief executive of investment-management firm ARK Invest, on X's Spaces app Thursday. 


 
Burned Investors Ask 'Where Were the Auditors?' A Court Says 'Who Cares?'

Judges have asked the Securities and Exchange Commission to weigh in on case that could affect $17 billion industry. 


 
Banks, Law Enforcement Will Have Access to New Beneficial Ownership Database

The U.S. Treasury Department has decided who can use a sprawling new database of corporate-ownership information, authorizing access to banks and law-enforcement officials. 


 
Paychex Stock Is Worst S&P 500 Performer After Mixed Earnings Report

Shares of the payroll services company are on track for their worst day in more than three years. 


 
RBA Could Get Swamped as Rates Tumble Globally Next Year

Interest rates in Australia could fall sharply next year as inflation retreats worldwide, prompting major central banks to ease policy settings swiftly and dragging the Reserve Bank of Australia along with them in the rush. 


 
Financial Services Roundup: Market Talk

Find insight on Bank of Canada, Santander, Prudential and more in the latest Market Talks covering the Financial Services sector. 


 
Powell's Pivot Sows Confusion Over When and How Fast Fed Will Cut

Federal Reserve Chair Jerome Powell is getting a meaningful decline in inflation, but that is making it harder for Fed officials to dissuade investors about an imminent rate-cutting cycle. 


 
FASB Won't Consider Changes in Securities Accounting After Bank Failures

The Financial Accounting Standards Board declined to consider any changes to how companies account for held-to-maturity securities, a debate revived in the wake of the failures this spring of banks with significant related unrealized losses.


(END) Dow Jones Newswires

12-22-23 0015ET