News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Cost Cuts, Credit-Card Lending Buoy Bank Earnings

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Growth in credit-card lending and a tight rein on costs boosted third-quarter profits at J.P. Morgan Chase and Citigroup offsetting downbeat trading results and a still-challenging interest-rate environment.

Equifax Removes Webpage to Investigate Possible Hacking

Embattled Equifax Inc. has moved one of its webpages offline as the company looks into whether hackers tried to breach its systems this week.

Goldman Sachs to Buy House-Flipping Lender

Goldman Sachs is acquiring Genesis Capital, a private Los Angeles firm that backs investors seeking to buy, renovate and quickly sell single-family homes.

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HSBC Names John Flint as Chief Executive

HSBC Holdings named retail head John Flint as its next chief executive, signaling continuity in the Asia-focused bank's strategy.

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.

Danish Bank Under Probe in France Over Magnitsky Money-Laundering

A French judge is investigating Danske Bank for allegedly laundering stolen Russian money identified by deceased whistleblower Sergei Magnitsky, according to a former hedge-fund manager leading an international campaign for sanctions against Russia.

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.

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.

Big Banks' Credit Card Woes Spell Trouble for Smaller Issuers

J.P. Morgan and Citigroup reported solid earnings, but also flashed a warning signal on consumer debt that investors in some other companies should heed.

Equifax Hack Drives GOP Bill to Overhaul Credit Bureaus

Top congressional Republicans on Thursday made the first significant moves to boost federal oversight at credit-reporting firms in response to the massive hack disclosed by Equifax Inc. last month.

(END) Dow Jones Newswires

October 12, 2017 16:15 ET (20:15 GMT)