News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Credit Suisse Overhauls Investment Bank's Top Brass

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Credit Suisse unveiled a raft of changes to the upper ranks of its investment bank, bringing in new co-heads for Europe, the Middle East and Africa as the Swiss banking giant revamps the division amid a broader strategic overhaul.

China Widens Bitcoin Crackdown Beyond Commercial Trading

Chinese authorities are moving toward a broad clampdown on bitcoin trading, testing the resilience of the virtual currency as well as the idea its decentralized nature protects it from government interference.

Bank of Canada to Watch Impact of Higher Rates, Stronger Currency

The Bank of Canada will pay close attention to how the economy responds to higher borrowing costs and the impact of a stronger Canadian dollar after it raised its benchmark rate twice in recent months, a senior central bank official said Monday.

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U.S. Officials Promise Revamped Derivatives Rules

Postcrisis derivatives rules should be revised to reflect how markets are functioning nearly a decade after the financial meltdown, senior Trump administration and regulatory officials told an industry gathering.

Goldman Nabs Pipeline Banker From Citi

Goldman Sachs Group Inc. is hiring Michael Casey, a top Citigroup investment banker with ties to the oil-pipeline industry, as it looks to fill gaps in its network.

Pine River Shutting $1 Billion Flagship Hedge Fund

Pine River Capital Management is closing its $1 billion flagship hedge fund after clients asked to withdraw more money than the firm was expecting, according to a person familiar with the matter.

Biting Back on Bitcoin, Central Banks Chew Over Introducing Cryptocurrencies

Central banks should consider introducing their own cryptocurrencies to counter the risks from the explosive growth in bitcoin and other virtual currencies, the Bank for International Settlements said in a new report.

China Scrambles to Catch Up With Runaway Boom in Fintech Investment

Regulators in Beijing are ratcheting up pressure on the financial sector to slow the spread of investment products targeting small investors, aiming to curb risk from a new wave of technology-driven finance.

Slack Closes $250 Million Funding Round Led by SoftBank's Vision Fund

Slack said it closed a $250 million funding round led by SoftBank's Vision Fund, making it the latest tech startup to catch the eye of the world's largest technology fund.

Bitcoin's Wild Ride Shows The Truth

Behind every bubble is a good idea bursting to get out, and Bitcoin kind of looks like a good idea, at least if you squint a bit.

(END) Dow Jones Newswires

September 18, 2017 16:15 ET (20:15 GMT)