News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Credit Suisse Profit Jumps on Wealth-Management Strength

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Credit Suisse Group said third-quarter net profit jumped on strong growth in wealth management, providing evidence that the Swiss banking giant's strategic shift toward managing wealthy clients' money is paying off.

Investors Expect First BOE Rate Rise in a Decade

The Bank of England is expected to lift its benchmark interest rate for the first time since the summer of 2007-here is why.

Trump to Tap Jerome Powell as Next Fed Chairman

The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.

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New Workplace Perk: Loans for Low-Income Employees

More U.S. employers are teaming up with financial institutions such as credit unions to offer small personal loans to their workers, offering employees a way to bridge financial crunches without turning to high-cost payday loans.

Women, Minorities Were Half of the S&P 500 Directors Added in 2017

White men are starting to lose their boardroom dominance at the biggest U.S. businesses. Women or minorities account for half of the 397 new independent directors announced in 2017

Powell's Candidacy Offers Continuity in Fed Policy

In Jerome Powell, Mr. Trump picked a Republican who has consistently supported Ms. Yellen on policy, although the Fed governor has made clear he wants to adjust postcrisis banking regulations.

Fed Leaves Rates Unchanged, Cites 'Solid Rate' of Economic Growth

The Federal Reserve left short-term interest rates unchanged Wednesday, but signaled it would consider lifting them before year's end amid signs the economy is gaining momentum.

SEC Warns Celebrities Against Endorsing Offerings

Celebrities who pitch investors on stock sales and initial coin offerings without disclosing their pay may be breaking the law, the U.S. markets regulator said.

SEC Letter to Guggenheim Questions Disclosure of African Banking Investment

Guggenheim Partners received a July letter from U.S. regulators that raised concerns about its relationship with companies connected to former Barclays Chief Executive Bob Diamond.

Yellen's Exit as Fed Chief Would Mark Break From Recent Precedent

Janet Yellen's leadership at the Fed looks set to end after just one four-year term, the shortest tenure at the helm of the central bank in nearly four decades, and a break from recent precedent.

(END) Dow Jones Newswires

November 02, 2017 07:15 ET (11:15 GMT)