News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Equifax's Ex-CEO Says Hack Marred by Missed Warnings, Communication Lapses

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A widespread breakdown in security safeguards at Equifax allowed hackers to gain access to some 143 million Americans' personal information, according to prepared testimony former CEO Richard Smith plans to deliver Tuesday.

Hurricanes, Earthquakes Rack Up Huge Bill for Insurers

After a string of natural disasters, reinsurers and commercial insurers could charge customers more next time their policies come up for renewal.

International Paper to Transfer $1.3 Billion Pension Liability to Prudential

International Paper will reduce its pension liability by $1.3 billion through a pension-risk transfer, a maneuver used by companies with pension plans to limit their risk by transferring responsibility to an insurance company.

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J.P. Morgan's Record High Crowns Bank-Stock Rebound

After dropping about 5% between early August and early September, J.P. Morgan Chase & Co. bounced back by nearly 8%.

Buyout Firms Drive European Deal Spree

Buyout firms showcased their deal-making prowess in the third quarter in Europe, a potential sign of bigger acquisitions to come from the cash-rich group.

Bitcoin Bounces Around Wildly in Record-Setting Quarter

Bitcoin more than doubled in price, then plunged by a third in what was a hectic three-month period even by the virtual currency's Wild West standards.

Mystery Bidder is Lobbying Against Chicago Stock Exchange Deal

If political opposition sinks the efforts of a Chinese-led group to buy the Chicago Stock Exchange, one suitor who has stirred up some of the controversy is looking to swoop in.

China's Central Bank Announces Targeted Easing to Boost Small-Business Loans

China's central bank announced it will free up funds for banks that boost lending to small businesses, in a targeted measure to balance support for the economy without aggravating already high corporate debt.

China Throws Its Sinking Private Sector a Life Vest

Private capital in China is reeling from a one-two punch of forced factory closures and higher borrowing costs. This weekend's move by China's central bank to boost small enterprise lending-the first real monetary easing since 2016-won't do much to improve the dark mood among Chinese entrepreneurs.

Hedge Funds: Not Dead Yet

Hedge funds, written off less than a year ago as overpriced and underperforming, this year are unexpectedly making money and taking in new cash.

(END) Dow Jones Newswires

October 02, 2017 11:15 ET (15:15 GMT)