News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Canceling Puerto Rico Debt 'Impractical,' Baupost's Klarman Says

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Billionaire hedge-fund manager Seth Klarman questioned the wisdom of expunging Puerto Rico's financial obligations in a Wednesday letter to his investors.

LSE Chief Rolet to Leave Next Year

London Stock Exchange said Chief Executive Xavier Rolet would leave the company by the end of next year, bringing down the curtain on a tenure marked by a big bet on index services and a failed attempt to create a pan-European exchange.

Blackstone's Profit Rises

Blackstone's third-quarter profit rose to $384.6 million as strong markets boosted the value of its portfolio and new capital flowed into its funds.

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Travelers Earnings Fall After Active Hurricane Season

Travelers earnings fell in the third quarter as results were battered by a severe hurricane season. Catastrophe losses, net of reinsurance, totaled $455 million, compared with $89 million a year earlier.

Chenault's Unfinished Business at AmEx

American Express CEO Ken Chenault is going out on a high note, but his successor will have to contend with fundamental questions about the company's business.

Treasury Official: Remarks on Size of Clearinghouses 'May Have Been Misinterpreted'

A senior Treasury Department official tried to dispel worries about the resiliency of clearinghouses on Thursday, saying some of the department's remarks on the financial market utilities "may have been misinterpreted."

Beneath the Market Rally: A Lot Less Trading

Trading volumes have fallen steadily in recent months as ultralow volatility, a lack of market-moving news and the rising popularity of passive investment funds have kept many investors on the sidelines.

Bitcoin Buyers Should Heed Lessons of China's Bubbles

Investors looking to trade on today's big themes, like cryptocurrencies, should beware of being late, not early, and should always be ready to sell.

GOP Divided Over Monetary Policy as Fed Chief Pick Looms

After criticizing the Fed for the past eight years, Republicans have a chance to change the course of the central bank when President Donald Trump nominates someone to take the helm in early 2018. But they are divided over which direction monetary policy should take.

First Data Mistakenly Announces Acquisition Plan for BluePay

First Data said it mistakenly posted a draft of a news release that it would acquire credit-card processing firm BluePay Holdings, a deal it says hasn't been finalized.

(END) Dow Jones Newswires

October 19, 2017 16:15 ET (20:15 GMT)