News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bitcoin Soars Past $4,000 in Weekend Trading

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The price of the digital currency bitcoin crossed over the $4,000 mark for the first time in its nine-year history, despite a widespread selloff in other major digital currencies.

SoFi Faces Wrongful Termination Suit

A former employee of online lender Social Finance Inc. accused the company in a lawsuit of wrongfully terminating him after he reported some managers had concealed errors made in processing loan applications and that another had harassed female employees by making sexual or inappropriate comments

European Companies Chase New Investors Through Private Sales

European companies have stepped up the sale of securities directly to investors as they seek to diversify their funding amid fears of tighter monetary policy.

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Canada's Big Pension Funds Show Gains, Caution on Infrastructure

Two of Canada's biggest pension funds said strong global stock markets drove gains for the first part of the year. They cautioned, however, that efforts to diversify investments into areas like infrastructure are being complicated by competition and a lack of opportunities.

Who Is Winning With the Fiduciary Rule? Wall Street

The brokerage business fiercely fought the new retirement advice rule, which requires brokers to act in the best interests of retirement savers, rather than sell products that are merely suitable but could make brokers more money. But so far for Wall Street, it has been a gift.

Latest Hot Digital Coin Offering: $187 Million in One Hour for Filecoin

About two weeks after the Securities and Exchange Commission warned it would be patrolling the red-hot market for initial coin offerings, a giant new offering has landed.

Monte dei Paschi Swings to Loss on Loan Write-Downs

Banca Monte dei Paschi di Siena, Italy's fourth-largest bank by assets, swung to a EUR3.1 billion loss in the second quarter due to large write-downs of bad loans.

CFTC Chairman Readies Revamp of Swaps Rules

President Donald Trump's new head of the U.S. derivatives regulator, J. Christopher Giancarlo, plans to remove restrictions on where swaps can be traded, revising a rule from the Dodd-Frank financial law critics say has diminished market liquidity.

1MDB Makes Payment of $350 Million to Abu Dhabi's IPIC

Malaysia's troubled state-investment fund 1MDB said it had paid the equivalent of $350 million to Abu Dhabi's International Petroleum Investment Co. after missing a pair of deadlines.

Ex-Trader Seeks Redemption for 'Intellectual Grift'

Chris Arnade walked away from Wall Street after 20 years to photograph and write about America's disaffected poor. The 52-year-old says the new career is a conscious attempt to reconcile his multiple identities, and perhaps atone for his time in finance.

(END) Dow Jones Newswires

August 14, 2017 00:15 ET (04:15 GMT)