European Parliament leaders have warned a proposal to freeze withdrawals from some accounts when a bank begins to fail could panic the market. Sweden's Gunnar Hoekmark said during debate the proposal could mean "the operation is successful but the patient will die".
The China Insurance Regulatory Commission says it will take control of Anbang Insurance Group for a year to protect consumers' interests. The company is in danger of insolvency, the commission says, and former Chairman Wu Xiaohui is being prosecuted, accused of "economic crimes."
Asian-Pacific stock markets posted solid gains Friday after oil prices rose overnight and stabilized and after the US dollar strengthened against a basket of currencies, making Asian exports cheaper. Japan's Nikkei 225 gained 0.7%; Hong Kong's Hang Seng Index rose 1%; Australia's S&P/ASX 200 added 0.8%; China's Shanghai Composite moved up 0.6%; South Korea's Kospi climbed 1.5%; and India's Sensex was up 1%.
The Committee on Foreign Investment in the US has barred Hubei Xinyan, a Chinese government-backed technology investment fund, from buying US semiconductor-testing firm Xcerra in a $580 million deal. Xcerra CEO Dave Tacelli said his company and the Chinese fund are "discussing alternatives to pursue opportunities in new and existing markets in China."
Yields on eurozone government bonds took a downturn after a survey found German business confidence had weakened this month. German executives were troubled by a strengthening euro, which makes products more expensive for foreign buyers, and discord over formation of a coalition government.
India says it will end the government's monopoly of the coal industry and will open the business to privately owned commercial miners. The policy shift is expected to increase domestic and foreign investment in the sector, but experts say production likely won't increase for two or three years because of time needed to auction coal reserves.
The Securities and Exchange Commission has postponed by six months a liquidity rule for open-end funds. Deadlines for complying with other investor-protection requirements are unchanged.
The Federal Deposit Insurance Corp.'s efforts to improve cybersecurity, risk management and privacy protection are undercut by frequent changes in senior management, according to a report from the FDIC's inspector general. From 2010 to 2017, the regulator had seven chief information-security officers and seven chief privacy officers, the report said.
WisdomTree has filed with the Securities and Exchange Commission for an actively managed exchange-traded fund exposing investors to equities and Treasury futures. The WisdomTree 90/60 US Balanced Fund would invest 90% of assets in large-cap US equities and 10% in US Treasury futures contracts.