News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Banks Sidestep a Big Tax-Plan Pitfall

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Banks do pretty well under the tax bill unveiled Thursday: it puts them on track for big tax cuts yet lets the firms avoid some of the biggest potential downsides of the overhaul.

Credit Suisse Profit Jumps as Focus on the Wealthy Pays Off

Credit Suisse reported a sharp rise in third-quarter profit on strong growth at its wealth-management division, indicating the Swiss banking giant's strategic shift toward managing wealthy clients' money is paying off.

Bitcoin Hits $7,000 as Wall Street Interest Gets Real

The price of the digital currency bitcoin smashed through the $7,000 mark for the first time, another milestone for the surging asset.

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U.S. Banks Want Freer Flow of Data in Nafta Pact

As talks on a new North American Free Trade Agreement heat up over auto parts and agriculture, U.S. financial firms are quietly pushing for another, less tangible change: the free movement of data across borders.

HNA Group's Borrowing Costs Jump in Latest Short-Term Bond Sale

Acquisitive Chinese conglomerate HNA Group tapped the short-term debt markets for the second time in a week, as a unit of the company offered on Thursday to pay sharply higher interest rates to woo investors.

Robert Mercer Resigns as CEO of Renaissance Technologies

Robert Mercer, co-chief executive of hedge-fund firm Renaissance Technologies LLC, is resigning, according to a letter sent by Mr. Mercer to the firm's investors.

Aurelius Says Windstream's Debt Exchange Would Violate Bond Indentures

Aurelius Capital Management LP on Wednesday circulated another letter to Windstream Services LLC's bondholders, arguing that the company's proposed debt exchange violates a contract in certain bonds.

New Workplace Perk: Loans for Low-Income Employees

More U.S. employers are teaming up with financial institutions 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

Bank of England Raises Interest Rates for First Time in a Decade

The Bank of England raised its benchmark interest rate for the first time in a decade, a telegraphed move that represents the latest step by the world's major central banks to withdraw crisis-era stimulus.

(END) Dow Jones Newswires

November 02, 2017 16:15 ET (20:15 GMT)