News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Nasdaq to Buy eVestment for $705 Million

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

Russell Investments Names Michelle Seitz as CEO

Asset manager Russell Investments has named Michelle Seitz as its next chief executive.

Citigroup Eyes Payments-Sector Consolidation

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.

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Fed's Kashkari Warns Rate Increases May Be Hurting Economy

Minneapolis Fed President Neel Kashkari amped up his criticism of rate rises by the U.S. central bank, saying they may be playing a part in persistently weak price pressures and a lack of wage gains.

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.

Ernst & Young Cites Digital Push for Revenue Gain

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.

ECB Expected to Signal Stimulus Phase-Out

The European Central Bank is walking a tightrope as it prepares for its most momentous decision in years: How to wind down its giant bond-buying program without derailing the eurozone's economic recovery.

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.

(END) Dow Jones Newswires

September 05, 2017 16:15 ET (20:15 GMT)