News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Ernst & Young Cites Digital Push for Revenue Gain

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Ernst & Young recorded global revenue of $31.4 billion in its latest fiscal year, up 6% from the previous year in U.S. dollar terms, the Big Four accounting firm said Monday evening.

CFPB Chief Lays Groundwork for Possible Return to Ohio Politics

Richard Cordray, the head of the Consumer Financial Protection Bureau, laid the groundwork for his possible return to Ohio politics, giving a an impassioned speech about inequality and his agency's work.

Carlyle Group Wins Guernsey Lawsuit Over Crisis-Era Bond Fund

A judge ruled in favor of Carlyle Group LP Monday in a lawsuit alleging the buyout firm didn't do enough to save a financial-crisis-era bond fund.

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Behind BlackRock's Cross-Selling Blitz

As part of a cross-selling push, BlackRock Inc. is pitching its clients the services of its Financial Markets Advisory business, which helped many of Wall Street's largest banks pass the Federal Reserve's annual stress tests last year.

China Bans Digital Coin Offers as Celebrities Like Paris Hilton Tout Them

Initial coin offerings are the latest financial-markets mania, capturing investors' imagination like dot-com startups once did years ago. But for all the hype, the risks are plentiful.

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

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.

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.

(END) Dow Jones Newswires

September 05, 2017 00:15 ET (04:15 GMT)