News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Starwood Capital Broker-Dealer Seeks to Court Individual Investors

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Private-equity firm Starwood Capital Group said Wednesday its broker-dealer affiliate will expand its focus to individual investors and named a new chief executive to lead the charge.

Assurant to Buy Warranty Group for $1.9 Billion

Assurant plans to buy the Warranty Group in a $1.9 billion cash-and-stock deal that will beef up the insurance company's international presence.

Hedge Funds Stung by Prospect of Interest-Rate Rises

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.

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Traders vs. Bots Moves to the Corporate Bond Market

Banks including Credit Suisse, Goldman Sachs and Morgan Stanley are unleashing new trading software systems in an attempt to pick up share in the $6 trillion market for investment-grade corporate debt.

Calls Grow to Deny Italy's Central Bank Chief a Second Term

Political pressure in Italy is rising with calls to deny a second mandate to central bank Governor Ignazio Visco when his term ends this month, amid mounting criticism of the bank's performance in managing the crisis that has afflicted the country's banks in recent years.

AIG Signs Deal With United Airlines for Travel Insurance

American International Group said it reached an agreement with United Airlines to offer travel insurance to the airline's customers.

Investing Firm Tortoise to Be Acquired

A group of private-equity firms led by Lovell Minnick Partners LLC has reached an agreement to buy a majority stake in income-investing specialist Tortoise, the companies said Wednesday.

Insurers Brace for Drop in Enrollment Amid ACA Turmoil

With enrollment for Affordable Care Act health-insurance plans starting in just two weeks, insurers are bracing for a drop-off among consumers put off by higher rates, confusion about the law's standing and a shorter window to choose coverage.

U.S. Bank Profit Shoots Higher, But Questions Linger on Loan Growth

U.S. Bancorp, the biggest so-called regional bank in the U.S., said its third-quarter profit rose to a record level, but analysts raised questions about future loan growth.

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.

(END) Dow Jones Newswires

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