News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Indonesia Investigating Standard Chartered Over $1.4 Billion Transfer

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Indonesia is investigating whether dozens of citizens with trust accounts at Standard Chartered owe tax after transferring $1.4 billion from Guernsey to Singapore in 2015.

Celebrity Endorsement Comes to the IPO Market

Some startups are trying to lure investors to a risky new kind of share offering with an old tactic: the sheen of celebrity. These firms are using a process that helps small businesses to go public through a crowdfunding approach.

Deerfield Management to Fund Biology Research at Broad Institute

Investment firm Deerfield Management has agreed to give $50 million to the Broad Institute of MIT and Harvard, in an unusual partnership between academia and Wall Street that aims to advance the discovery of new medicines.

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Banks Have Yet to See a Trump Bump in Lending

A surge in loans expected after last November's election has yet to materialize.

Germany's Eurex Makes Profit-Share Move

German clearinghouse Eurex Monday said it is setting up a profit-sharing system with some of the world's biggest investment banks, in an unusual attempt to claw business away from the City of London ahead of Brexit.

GE Gives Activist Trian a Seat on the Board

Bowing to mounting pressure, General Electric is giving activist investor Trian Fund Management a seat on its board as the struggling industrial company looks for ways to revamp its operations and reverse its slumping stock price.

Why Richard Thaler Matters to Investors

Richard Thaler, the Nobel Prize winner, used psychological insights to explain why markets aren't always efficient.

The False Prophet of 'Long-Term Investing'

Academics, central bankers and big money managers worry that companies aren't investing enough, and that it is at least in part because of a dysfunctional finance system.

Lautenschläger Says ECB Should Start Cutting Bond Purchases Next Year

The European Central Bank should start cutting its bond purchases at the beginning of next year, a member of the central bank's Executive Board said.

ECB: Banks' Capital Buffers Are Big Enough to Cope With Higher Rates

Eurozone banks won't be required to raise fresh capital to guard against a sudden increase in interest rates, according to the European Central Bank.

(END) Dow Jones Newswires

October 10, 2017 11:15 ET (15:15 GMT)