News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Soros Transfers $18 Billion to Foundation, Creating Instant Giant

Continue Reading Below

The 87-year-old pioneer of hedge-fund investing has transferred the bulk of his fortune to Open Society Foundations, which vaults it into the big leagues. Soros Fund Management is expected to show a tamer investing style now the firm has a philanthropy as its main client.

Goldman Posts Surprise Profit Rise Despite Trading Woes

Goldman Sachs's investment bankers and portfolio managers drove a surprise rise in quarterly profit, compensating for another rough spell for the Wall Street firm's once-unstoppable traders.

Morgan Stanley's Earnings Rise on Strength in Wealth Management

Morgan Stanley said its third-quarter profit rose 12% to $1.78 billion as its giant wealth-management business continued to churn out reliable and growing profits even as trading revenue declined.

Continue Reading Below

Credit Suisse Targeted for Breakup by Little Hedge Fund With Big Plans

A small but top-performing activist hedge fund has set its sights on an ambitious target: splitting Credit Suisse in three.

Stock Exchanges Question SEC's Plan to Revamp Trading

The country's largest stock exchanges are resisting a regulatory experiment to suppress incentives they offer to attract trading to their markets.

Trump Narrows Fed Leader Search to Five Candidates

President Donald Trump said he soon will choose a Federal Reserve chairman, having narrowed his search to five finalists.

All Regional Fed Banks Wanted To Keep Discount Rate At 1.75% in August

All of the Federal Reserve's 12 regional reserve banks wanted to maintain the interest rate on discount-window loans ahead of the central bank's September policy meeting, according to minutes released Tuesday.

Moody's Unit Buys Stake in Startup CompStak

The advisory arm of Moody's Corp. has acquired a minority stake in CompStak, a real-estate technology startup that collects detailed information on commercial property leases and sales through crowdsourcing.

A Shunned Industry Makes a Comeback in Ireland-Banking

Almost a decade after the Irish economy was crippled by a banking catastrophe, the country is reopening its arms to banks to take advantage of shifts in Europe's finance industry triggered by Brexit.

Barclays Poaches HSBC Investment Banker

Barclays has poached a senior investment banker from HSBC to co-head its mergers and acquisitions operations, an appointment that comes at a time when the bank is involved in some of the most high-profile U.K. cross-border deals.

(END) Dow Jones Newswires

October 17, 2017 16:15 ET (20:15 GMT)