News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Tricky Balancing Act Faces New York Fed Search Committee

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Help Wanted: A senior executive with a keen knowledge of markets and economics, but who isn't too close to Wall Street because he or she will be responsible for regulating some of the world's biggest banks.

Credit Trades Du Jour: Exotic, 'Nonlinear' and Private

The hunt for yield is taking Wall Street and investors into exotic territory-and that means an appetite for credit assets that are private, not easily tradable and often complex.

Australia's RBA Keeps Interest Rates on Hold

The Reserve Bank of Australia left its benchmark interest rate unchanged at a policy meeting Tuesday, as inflation continues to show weakness despite a surging job market and a stronger global economy.

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Bondholders Can't Rely on Reliance Communications

India's Reliance Communications is headed toward a bond default, after the debt-laden wireless carrier skipped paying interest on a bond for the first time.

AmTrust Sells Stake in U.S. Fee Businesses to Private Equity Firm

AmTrust Financial Services Inc. on Monday said it was selling a majority stake in some of its U.S. fee businesses to private equity firm Madison Dearborn Partners, while also reporting higher-than-expected losses for some prior periods.

Wells Fargo Launches Robo-Investment Service

Wells Fargo & Co. is rolling out a new robo advisory service to attract more of its retail clients to its brokerage arm, joining a growing roster of firms leveraging the digital tools favored by many young investors.

Goldman Sachs Names Stephanie Cohen as Head of Strategy

Goldman Sachs Group Inc. is naming a new head of strategy as it looks to incubate new businesses and find different sources of revenue to replace trading revenue that's unlikely to return in force.

New York Fed Says Dudley Plans to Retire in Mid-2018

The Federal Reserve Bank of New York announced Monday that its leader William Dudley is planning to step down early and retire in the middle of next year.

For Investors, Saudi Crackdown Sparks Hope, Risks Uncertainty

A far-reaching crackdown that extends into Saudi Arabia's business elite has abruptly raised the stakes for global investors just as the kingdom embarks on a campaign to lure foreign capital to help overhaul its oil-dependent economy.

Malaysia's Central Bank Expected to Hold Rates Steady

Bank Negara Malaysia is likely to leave its overnight policy rate unchanged at 3.00%, as the country's economic growth and inflation are expected to remain well within its expectations.

(END) Dow Jones Newswires

November 07, 2017 07:15 ET (12:15 GMT)