News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

U.S. Investigating Foreign-Exchange Trading at Wells Fargo

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Federal prosecutors are investigating foreign-exchange trading at Wells Fargo and have subpoenaed information from the firm, which recently fired bankers in that business, according to people familiar with the matter.

President Trump Expected to Announce Fed Pick Next Week

President Donald Trump is expected to announce his choice for the next leader of the U.S. central bank next week, a person familiar with the matter said Friday.

UBS Profit Rises as Wealth-Management Bet Pays Off

UBS said its third-quarter net profit rose sharply on gains in its wealth-management and investment units, supporting the bank's strategic shift.

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Intercontinental Exchange to Swap Companies with TMX Group

Intercontinental Exchange is selling one its companies to TMX Group and receiving two other companies and cash in exchange.

Carlyle's Next Generation: A Deal Whiz and a Homegrown Quarterback

Carlyle veteran Glenn Youngkin and problem-solver Kewsong Lee will become co-chief executives of the private-equity firm in January, replacing the company's longtime leaders, who will step into senior roles on the board.

Your Computer May Be Making Bitcoin for Hackers

Hackers are commandeering the horsepower of unwitting victims' computers to secretly generate cryptocurrencies, hoping to cash in as the price of bitcoin has soared to $6,000.

The Bond Selloff's Missing Ingredient: Inflation

Better growth and tighter central bank policy are lifting bond yields, but the market lacks a critical factor for lift-off.

ECB, Fed Are Growing Apart, Moving Markets

The European Central Bank gave notice that its stimulus will be around for a while, widening a gap between monetary policy expectations in the eurozone and U.S. that is set to further influence financial markets.

Chinese Banks' Capital Cushion Isn't So Comfy

Banks have been issuing a huge pile of new debt to shore up their balance sheets, suggesting all is not well beneath the surface.

Fee Income Boosts UBS's Wealth Arm

Swiss banking giant UBS Group said profit in its Wealth Management Americas unit rose 7% in the latest quarter as fee income rose and costs tied to recruitment dropped.

(END) Dow Jones Newswires

October 27, 2017 16:15 ET (20:15 GMT)