News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

For the ECB, There's Only So Much Time to Play For

Continue Reading Below

The European Central Bank has emphasized persistence and patience on its monetary policy. But with the path of its bond-purchase program set only until the end of December, the pressure to lay out 2018 plans is building.

Bank Investors Say Mind the Gap

U.S. bank stocks dropped in August as interest rates slipped, and some money managers say lenders have farther to fall.

Private-Equity Pours Cash Into Opioid-Treatment Sector

Drawn by soaring demand, expanded insurance coverage and the chance to consolidate a highly fragmented market, private-equity firms plowed $2.9 billion into treatment facilities last year.

Continue Reading Below

New York Fed's Dudley Investigated, Cleared Over Wells Fargo Disclosure

New York Fed President William Dudley was investigated this year for failing to disclose a relative's employment at Wells Fargo and was cleared of any wrongdoing, the regional Fed bank said Friday.

China's Legend Holdings Makes European Push With BIL Deal

Legend Holdings made one of China's biggest forays yet into European banking with an agreement Friday to buy Banque Internationale à Luxembourg SA from its Qatari owners and turn it into an international banking brand.

Fintech Startup SoFi Opens Probe Into Sexual Harassment Claims

Online lender Social Finance has launched an outside investigation into claims current and former employees were sexually harassed at work, the latest Silicon Valley startup to face such accusations.

SEC Drops Fraud Suit Against Wall Street Financier

Wall Street's top cop has dropped a civil lawsuit against financier Benjamin Wey, who the regulator accused of manipulating the shares of companies he helped take public, after a judge had tossed out key evidence in a related criminal case.

Hedge Fund Winton's Investment Chief Quits to Launch New Firm

The chief investment officer at Winton Group, one of the world's largest hedge funds, has quit to set up his own firm.

$10 Billion Robo-Adviser Betterment Flourishes as Chief Learns to Let Go

Betterment LLC Chief Executive Jon Stein wants to use technology and automation to make investment advice and financial services broadly accessible while lowering the cost and removing compensation conflicts.

Houston Residents Grapple With Lack of Insurance

Many homeowners are expected to lack adequate insurance for repairing their damaged homes as standard policies do not cover flooding.

(END) Dow Jones Newswires

September 04, 2017 07:15 ET (11:15 GMT)