News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

U.S. Treasury Declines to Label China a Currency Manipulator

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The U.S. Treasury again declined to label China a currency manipulator, though it continued to criticize China for its large trade surplus and restrictions on foreign investors.

BOJ's Sakurai Backs Current Powerful Easing Framework

Bank of Japan's policy board member Makoto Sakurai said Wednesday that the bank should keep its ultra-easy policy in place given that price movements are still weak and far off its 2% inflation target.

Market's Unlucky-Sevens Streak Is in Danger

For the past 13 times that a year has ended in seven, going back to 1887, the Dow Jones Industrial Average or its predecessor has suffered a sharp downturn between August and November. Now this streak looks to be in jeopardy.

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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.

SEC Sues Rio Tinto, Two Former Executives

U.S. regulators sued Rio Tinto and two former top executives over claims they misled investors about the value of Mozambique coal assets obtained in an acquisition that caused massive losses for the company.

TPG Capital Hires Former Ford Motor CEO

Private-equity giant TPG Capital said Tuesday it hired Ford Motor Co.'s recently ousted chief executive as a senior adviser, adding an automobile industry veteran to its industrials practice as it seeks to expand supply chain-related investments.

J.P. Morgan to Buy Payments Firm WePay in First Major Fintech Buy

J.P. Morgan Chase said that it agreed to buy payments company WePay in the bank's first sizable acquisition of a financial-technology startup.

Wall Street Brokerages Boosted by Rise in Fee Accounts, Client Borrowing

Wall Street's biggest brokerages posted double-digit gains in third-quarter profit as clients continued to move money into fee-based accounts and take on more debt.

Moody's Unit Buys Stake in Startup CompStak

The advisory unit 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.

Ackman Cranks Up Pressure on ADP

Activist investor William Ackman turned up the pressure on Automatic Data Processing Inc., saying the company has "missed the market" by focusing more on meeting revenue guidance than developing new technology.

(END) Dow Jones Newswires

October 18, 2017 00:15 ET (04:15 GMT)