News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Citigroup's Profits Rise, Helped by Investment Banking

Continue Reading Below

Citigroup said its third-quarter profit increased by more than 7% from a year earlier, boosted by gains in investment banking and progress in the firm's evolving consumer bank.

Fed on Track to Raise Rates Despite Weak Inflation, Minutes Show

Most Federal Reserve officials believed at their meeting last month that they would likely raise short-term interest rates again this year, though some said their decision would hinge on whether inflation picks up in coming months.

J.P. Morgan's Profits Up on Lending Boost

J.P. Morgan said its third-quarter profit rose as a boost from lending offset weaker trading results for the nation's biggest bank by assets.

Continue Reading Below

Bitcoin Surges Above $5,200 on Hopes of Renewed China Trade

Bitcoin set a fresh record above $5,200 as investors bet on China easing trading restrictions and reacted to a prominent hedge fund manager predicting the price of the virtual currency could rise to $10,000 within a year.

New York AG Eric Schneiderman Probing Deloitte Hack

The New York attorney general's office is looking into the cyberbreach at Deloitte that the giant accounting firm says compromised information on a small number of its clients.

Quintessential HSBC Insider Takes the Helm

John Flint joined the bank's international leadership program out of college and learned the ropes in bank branches, trading rooms and at the bank's treasury department, in cities worldwide.

StanChart Seeks Investors in Power Company at Center of Bribery Probe

A Standard Chartered-controlled Indonesian power-plant maker at the heart of a U.S. Justice Department bribery probe is seeking new investors as it attempts to restructure $195 million in debt and fund a turnaround.

Political Stalemate Buoys Municipal Bonds

Inaction in Washington has been a boon for municipal-bond investors this year, after investors took $27 billion out of muni-bond funds shortly after the election of President Donald Trump.

Start Of Fed Balance Sheet Drawdown Going Well, Fed's Bostic Says

Federal Reserve Bank of Atlanta President Raphael Bostic said the start to central bank balance sheet reduction is going well, in part because the economy is in a good place to deal with the shift in monetary policy.

Fed's Fischer Doesn't See Financial-Market Bubble

Departing Federal Reserve Vice Chairman Stanley Fischer told NPR he doesn't think the central bank's policies are fueling a financial-market bubble, even as low interest rates can contribute to rising stock prices.

(END) Dow Jones Newswires

October 12, 2017 11:15 ET (15:15 GMT)