News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Activist William Ackman Loses Bid for ADP Board Seats

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William Ackman lost his bid for three seats on the board of Automatic Data Processing, the latest blow to the struggling activist investor as shareholders sided instead with management.

Tricky Balancing Act Faces New York Fed Search Committee

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.

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Switzerland's Central Bank Finally Gets Some Inflation-In Its Profit

The Swiss National Bank's foreign-currency reserves jumped by $17 billion in October, putting the central bank on track for another banner quarter after earning a record-high profit between July and September.

Hedge Fund Tries to Lure Techies With a Relaxed Office Design

Hedge-fund managers, particularly tech-intensive ones such as Marshall Wace, are in a fierce battle with the likes of Google and Facebook to hire data scientists. The work environment is an important part of the lure.

Cellular Rivalry: India's Richest Man Imperils Brother's Company

India's richest man is muscling into the country's highly competitive telecommunications market, and his first victim could be his own brother.

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.

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.

State Street CEO to Retire Next Year

State Street said Joseph Hooley will retire as chairman and chief executive at the end 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.

(END) Dow Jones Newswires

November 07, 2017 11:15 ET (16:15 GMT)