News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

China Tightens Rules on Cash Leaving Country as Growth Slows

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China formalized existing measures to curb outbound investment in sectors such as property, hotels, cinema, entertainment and sports teams amid persistent capital-outflow pressure.

Tripling Down on Emerging Markets With a New Leveraged ETF

Direxion, the firm behind popular funds that bet on gold mining companies, oil prices and Chinese stocks, launches an ETF that aims to triple the returns of emerging-market bonds.

Jack Ma Works His Magic With MassMutual Bid

For Alibaba's Jack Ma, joining in a $1.7 billion bid for the Hong Kong and Macau businesses of MassMutual looks like a slick way to get into the insurance line.

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Why It is Time to Own France's Biggest Bank

BNP Paribas is exploiting rivals' weaknesses while keeping a tight rein on costs

Wrong-Way Gas Bet Fueled Goldman's Second-Quarter Swoon

Goldman lost more than $100 million in a wrong-way bet on regional natural-gas prices this spring, a setback that played a large role in the New York bank's subpar second-quarter trading performance.

Lost $12 Million Windfall Sparks Suit Against Delaware

Two French scientists are suing Delaware because the state sold stock they owned in Idenix Pharmaceuticals without telling them. The case has implications across the U.S. as many companies are incorporated in Delaware.

Blackstone Group to Buy Midstream Investor Harvest Fund Advisors

Blackstone Group LP has a deal to buy Harvest Fund Advisors LLC, an investment-management firm with more than $10 billion in assets under management that focuses on midstream energy assets.

Yellen to Speak on Financial Stability at Jackson Hole Next Week

Federal Reserve Chairwoman Janet Yellen will speak at the central bank's annual economic symposium in Jackson Hole, Wyo., next week, the Fed announced Thursday.

MassMutual to Sell Asian Unit to Jack Ma-Backed Company

Massachusetts Mutual Life Insurance Co. agreed to sell its Hong Kong-based operations for about $1.7 billion to a group of Asian investors that includes two companies affiliated with Chinese billionaire Jack Ma.

Bank of America to Pay $6 Million to Bankrupt Couple Evicted From Home

Bank of America Corp. has agreed to pay more than $6 million to a California couple who a federal judge said had been harassed and illegally foreclosed on by the bank's mortgage unit, ending an eight-year-long dispute.

(END) Dow Jones Newswires

August 18, 2017 11:15 ET (15:15 GMT)