News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Citigroup Eyes Payments-Sector Consolidation

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Citigroup has created a separate services group within its investment-banking coverage of the industrials sector and appointed two global co-heads to oversee the new division.

Bank of Canada Expected to Maintain Rate

After the Bank of Canada raised its benchmark interest rate for the first time in seven years in July, economists expect it to maintain the rate Wednesday but keep the door open to gradual rises in coming months.

Nasdaq to Buy eVestment for $705 Million

Nasdaq will buy data provider eVestment for $705 million in a bid to bulk up its proprietary analytics and technology offerings for institutional clients.

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China's Big Banks Still Have a Credibility Gap

Strong first-half results for the likes of ICBC and Bank of China mask several ongoing problems.

A Decade After Crisis, Investors Have Stopped Hunting for Black Swans

Fear of "black swan" events, which are difficult to predict, drove some investors into hedge funds that offered extreme insurance policies. But the swans have yet to return, and such strategies have fallen out of favor.

Australia's RBA Leaves Cash Rate Target Unchanged at 1.50%

Australia's central bank left its benchmark cash rate unchanged at a record low 1.5% at a policy meeting Tuesday, balancing optimism around employment growth with caution over flat wages growth and a higher local currency.

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.

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.

Your Robo Adviser Is More Active Than You Think

They're supposed to be straightforward investments run by algorithms-not a manager. But there's still a lot of human judgment involved.

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.

(END) Dow Jones Newswires

September 05, 2017 11:15 ET (15:15 GMT)