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News Highlights: Top Financial Services News of the Day12-29-17 11:15 AM EST
Goldman to Take $5 Billion Charge Tied to New Tax Law 

Goldman Sachs said it will take a $5 billion charge to its fourth-quarter earnings related to the tax overhaul, setting up the Wall Street firm's first quarterly loss in six years.

Everything Went Right for Markets in 2017-Can That Continue? 

Money managers and analysts entered 2017 widely anticipating that the overall levels of major indexes would remain little changed by year-end. Instead, the S&P 500 is on track to post its best yearly gain since 2013.

Banks Scramble to Help Customers Looking to Prepay 2018 Taxes 

Lenders are struggling to accommodate mortgage borrowers who are rushing to prepay their property taxes before the Republican tax law takes effect.

Wall Street Traders Miss Out on Record Markets 

Markets boomed in 2017, but the year turned out to be unremarkable for trading, as stocks and other assets' steady performance reduced demand for skilled traders and made it harder for them to eke out profits.

Ambac Removes Obstacle to Proposed Debt Swap 

Ambac Assurance Corp. bought peace with hedge funds that were suspicious of a $5 billion restructuring proposal, moving the bond insurer a step closer to digging out from losses from the U.S. housing crash.

What to Watch on the Fiduciary Front in 2018 

The federal rule meant to protect retirement savers from conflicted advice was dealt a setback in 2017 as its full implementation was delayed. But consumers, state regulators and parts of the advisory industry have embraced its ideal of requiring retirement advice to be in investors' best interest.

U.S. Grants Banks Waivers to Manage Retirement Plans 

Five global banks can continue managing corporate retirement plans in the wake of recent guilty pleas to criminal charges, under new waivers announced by the Trump administration.

Chinese Court Seizes Assets of LeEco Founder 

As authorities order embattled tech entrepreneur Jia Yueting back to China to handle his growing financial problems, a local court has seized his assets.

It's the Moment Insurers Have Waited For: Time to Raise Prices 

One of the costliest years for natural disasters puts some U.S. insurers in a position to do what they haven't done in years: raise prices.

JPMorgan to Pay $2.8 Million for Failing to Segregate Customer Funds 

JPMorgan Chase & Co. agreed to pay $2.8 million to settle charges brought by Wall Street's self-regulator that the bank failed for years to adequately separate customer securities from the firm's own assets.


(END) Dow Jones Newswires

December 29, 2017 11:15 ET (16:15 GMT)

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