News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Equifax Panel Clears Executives on Trades

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Equifax said a board investigation led by a panel of independent directors largely exonerated four senior executives who sold shares in the days after the company discovered suspicious activity on its systems.

Ares Management Profit Growth Slows

Ares Management's third-quarter profit was boosted by an increase in fees, but overall growth slowed as performance-related earnings dropped.

Societe Generale Profit Falls

Societe Generale reported a 15% in third-quarter profit, hit by low interest rates, a low-volatility environment and litigation provisions.

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Head of World's Largest Exchange Embarks on Bitcoin Gambit

Terrence Duffy, chairman and CEO of CME Group, could notch a major achievement if digital-currency futures take off, but the move risks harming the exchange's reputation.

Goldman Retreats From Options as Stock Derivatives Trading Struggles

Waning stock volatility is pressuring the equity derivatives business, suppressing revenue and driving traders out of what was once a key Wall Street moneymaker.

Private-Equity Firms Oppose Tax Bill-but Things Could Be Worse

House Republicans' tax proposal faces stiff opposition from private-equity firms that say it threatens to disrupt their business model, which often relies on ladling debt onto acquisition targets.

How to Dissect a Chinese Bond-Market Selloff

While yields on Chinese government bonds have recently risen sharply, those on corporate bonds haven't. Working out why can tell investors a lot about how Chinese markets now work.

Trump Says Jerome Powell Is His Choice to Lead Federal Reserve

President Donald Trump said he would nominate Federal Reserve governor Jerome Powell to be the next chairman of the central bank, saying he has the "wisdom and leadership" to guide the economy through any turbulence that arises.

Cash-Strapped Venezuela Seeks to Restructure Debt

Venezuelan President Nicolás Maduro said the cash-strapped South American country will seek to restructure its debt, raising the prospect of a showdown with bondholders that could be complicated by U.S. sanctions on key members of the Venezuelan administration.

Fortress Hires Deutsche Hedge Fund Team Amid Legal Complaint

Fortress Investment Group, which has $72.4 billion in assets, has hired a team of hedge-fund managers from Deutsche Bank, two of whom are accused of engaging in a 'nefarious scheme' by another U.S. hedge fund.

(END) Dow Jones Newswires

November 03, 2017 11:15 ET (15:15 GMT)