Bank of New York Mellon Loses Key ETF Customer to State Street
Bank of New York Mellon lost VanEck Associates as a client of its servicing business for exchange-traded funds to rival State Street.
Facebook's Libra Bets It Can Bank the Unbanked
Facebook has an ambitious goal for its proposed cryptocurrency, Libra: to bring financial services to the hundreds of millions of people world-wide who don't use banks or other traditional institutions. The cryptocurrency sector has for years tried to do the same and failed.
Powell Faces Challenge Defining Doctrine Around When to Cut Rates
Fed Chairman Jerome Powell's challenge in the weeks ahead is to articulate clearly why the central bank is likely to continue reducing rates absent obvious signs of economic deterioration.
Financial Services Roundup: Market Talk
The latest Market Talks covering Financial Services
Fannie, Freddie Plan Is Likely Released Next Month
The Trump administration is preparing to release as early as the first part of September its long-awaited plan to return Fannie Mae and Freddie Mac to private-shareholder ownership.
Fed Officials Viewed July Rate Cut as 'Recalibration' of Policy
Federal Reserve officials saw their move to cut interest rates last month as a "recalibration" rather than the start of a more aggressive easing cycle and were reluctant at their latest policy meeting to say how future moves would unfold.
Aflac Shares Fall on Affiliation With Japan Post
Insurer Aflac shares slid on news reports that a scandal at Japan Post Holdings Co. included improper sales of Aflac products.
Strong Demand for Bank Bonds Allays Fears From Sinking Shares
The relatively strong performance of bank bonds is sending an encouraging signal at a time when financial stocks are under pressure from recession fears.
Goldman Pursues Majority Stake in Chinese Venture
Goldman Sachs has applied with Chinese regulators to take a majority stake in an investment-banking joint venture, the most recent move by a foreign company to tap the nation's vast financial sector.
Royal Bank of Canada's Profit Increases
Royal Bank of Canada's profit increased in its fiscal third quarter as net interest income rose by almost 10%, but the bank's chief executive said the lender would conserve capital and avoid acquisitions due to global economic uncertainty.