News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Hearing Puts Clearinghouses' Ability to Withstand Crises in Spotlight

Continue Reading Below

A congressional committee sought to shed light on the role played by clearinghouses in crisis situations, as regulators re-examine whether rules put in place after the 2008 financial crisis might undermine financial stability in some cases.

Apollo Breaks Record as Investors Flock to Buyout Funds

Apollo Global Management, the private-equity firm founded by billionaire investor Leon Black, has raised $23.5 billion for the world's largest ever buyout fund.

Wells Fargo to Sell Commercial Insurance Business to USI Insurance

Wells Fargo said Tuesday it would sell its commercial insurance businesses to privately-held USI Insurance Services.

Continue Reading Below

Yellen: Globalization, Technological Change Have Been Harmful to Many

The offshoring of jobs associated with globalization combined with technological change have been devastating for many American communities, while designing programs to help has proved difficult, Federal Reserve Chairwoman Janet Yellen said in London.

Hedge Fund Activists See More Opportunities in Europe

Third Point LLC's $3.5 billion stake in Nestlé is the most prominent in Europe's nascent market for shareholder activism by hedge funds, with a number of funds already creating a nuisance for the region's companies.

Estates of Madoff Sons Reach Ponzi Scheme Settlement

The estates of Bernard Madoff's two deceased sons reached a $23 million settlement to help make up for victims' losses in their father's Ponzi scheme.

Harker Sees Fed on Track for Another Rate Increase This Year

Philadelphia Fed President Patrick Harker said he is ready to press forward with rate rises, believing recent inflation weakness is likely temporary.

Fed's Fischer Sees Financial-System Vulnerabilities as 'Moderate'

Federal Reserve Vice Chairman Stanley Fischer said the vulnerability of the financial system is moderate compared with past periods of risk, but warned that higher prices of risky assets bear monitoring.

Anxious Investors Try to Hedge Against a Big Selloff, Even as Good Times Roll

Stock volatility is near an all-time low and corporate profits have bounced back from a year ago, but investors are increasingly moving to protect themselves from big swings in financial markets.

Blackstone Nearing Deal to Buy Japan's Croesus Retail

Private-equity firm Blackstone Group is nearing a deal to buy a Singapore-listed company that operates retail properties in Japan, which currently has a market capitalization of over US$500 million, people familiar with the process said Tuesday.

(END) Dow Jones Newswires

June 27, 2017 16:16 ET (20:16 GMT)