News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Bank of America Profit Climbs, Driven by Higher Interest Rates

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Bank of America said its third-quarter profit rose 13% as higher interest rates helped the bank inch closer to meeting long-held profitability goals.

Wells Fargo Posts Weaker Earnings

Wells Fargo said third-quarter profit and revenue fell as the nation's third-largest bank by assets was hurt by a coming legal settlement and continues to struggle with fallout from last year's sales-practice scandal.

PNC's Profit Rises on Growth in Commercial Lending

PNC's quarterly profit rose, bolstered by growth in commercial lending.

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Fed's Bostic Still Sees Third Rate Increase This Year

Federal Reserve Bank of Atlanta President Raphael Bostic said he hasn't yet seen evidence that would deter the central bank from raising rates a third time this year.

Bond Wizard Chris Rokos Hits a Bump

Hedge-fund trader Chris Rokos raised billions by letting his performance do the talking. A sophomore slump at his Rokos Capital Management may test that strategy.

Citigroup, Deutsche, HSBC Agree to $132 Million Settlement in Libor Scandal

Citigroup, Deutsche Bank, and HSBC have agreed to pay about $132 million in total to resolve accusations they rigged a lending benchmark.

Hong Kong Regulator Drops Lawsuit Against UBS, Standard Chartered Over 2009 IPO

Hong Kong's securities regulator has dropped a lawsuit against UBS Group AG and Standard Chartered PLC over the banks' conduct in a 2009 initial public offering of a Chinese timber firm now in liquidation, according to people familiar with the matter.

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.

Four Candidates Vie So Far to Be Fed Chief

President Donald Trump's top candidates so far to be the next Fed chief are current Chairwoman Janet Yellen, Fed governor Jerome Powell, Stanford University economist John Taylor and former Fed governor Kevin Warsh.

Automated-Trading Supervision Should Target 'True Risks,' CFTC Official Says

The CFTC needs to take a fundamentally different approach to regulating automated trading than the course pursued under the Obama administration, Republican Commissioner Brian Quintenz said in an interview.

(END) Dow Jones Newswires

October 13, 2017 11:15 ET (15:15 GMT)