News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Hedge Funds Wrong-Footed by Prospect of Interest-Rate Rises

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The prospect of interest rate increases in the U.S. and U.K. is playing havoc with the trades of several large hedge funds and many are finding that this slump has dented their 2017 performance.

Handelsbanken Shrugs Off Brexit Concerns

Handelsbanken reported an 8.6% drop in third-quarter net profit, in line with forecasts, and shrugged off any concerns surrounding the U.K.'s withdrawal from the EU.

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.

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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.

'Gloom, Boom and Doom' Commentator Faber Faces Backlash Over Race Comments

Marc Faber, an investor who predicted the 1987 stock market crash and has been a fixture on financial television, told subscribers to his newsletter that he was glad that "white people populated America, and not the blacks."

(END) Dow Jones Newswires

October 18, 2017 07:15 ET (11:15 GMT)