News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Assurant to Buy Warranty Group for $1.9 Billion

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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.

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.

Starwood Capital Broker-Dealer Seeks to Court Individual Investors

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.

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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.

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.

Fed's Beige Book: Economic Activity Grows Despite Hurricanes

Economic activity grew at a measured pace across the country in September and October, despite sector-wide disruptions caused by recent hurricanes in the Southern and Eastern U.S., according to a new report from the Federal Reserve.

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.

Giant Coin Offering Stymied by Management Dispute

One of the year's biggest initial coin offerings, a $232 million token sale by Tezos, is embroiled in a management fight that is threatening the deal and highlighting the risks in this red-hot corner of finance.

Affirm Wants To Move Beyond Simple Lending to Provide Financial Advice

Online financial services company Affirm Inc. wants to move beyond simple lending to provide financial advice to customers, its founder and chief executive said Wednesday.

Faber Quits Five Boards Following Comments on Race

Marc Faber, the bearish newsletter writer who encountered sharp rebuke after his racist remarks, has resigned from at least five corporate boards.

(END) Dow Jones Newswires

October 18, 2017 16:15 ET (20:15 GMT)