News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Equifax Apologizes as it Reports Earnings Drop, Outlines Next Steps

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Executives on Equifax's first earnings call since it disclosed a massive breach in September detailed a challenging environment for the company as it works to overhaul its security measures.

HSBC Accounts Used for Transactions Linked to Suspected South Africa Kickbacks

South Africa's Gupta family used HSBC bank accounts in Dubai to transfer millions of dollars through companies that have been linked to suspected kickbacks for the sale of Chinese locomotives, according to documents.

Bitcoin: The World's Most Dramatic Bubble Ever?

First it was tulips. More recently it was tech stocks and then the housing market. Lately, it's all about bitcoin.

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Senate Prepares to Vote on Nominee to Head Key Banking Regulator

The final pieces of the Trump administration's financial regulatory team are moving into place, with another key official expected to get approval by the Senate as early as next week.

China to Give Foreigners Greater Access to Financial Sector

China took a major step in opening up its financial sector, announcing a relaxation of restrictions on foreign ownership in the securities and banking sectors just hours after U.S. President Donald Trump concluded his visit to Beijing.

A Former LTCM Partner Embraces Indexing, and Says You Should Too

Victor Haghani, a veteran of the legendary Salomon Brothers trading floor and founding partner of Long-Term Capital Management-which collapsed spectacularly in 1998-makes a forceful case for the merits of passive investing at his current firm.

How a West Coast Trading Network Spawned a New York Pension Fund Scandal

The connections Navnoor Kang established with brokers during his years on the West Coast with investment firms Guggenheim Partners and Pacific Investment Management Co. would play a critical role in what prosecutors allege was the biggest public pension fund scandal of the past decade.

Activist Investor Comes Up Short in Hong Kong

The owners of a Hong Kong real estate investment trust fought off a challenge from alternative investor PAG, which had sought the removal of the REIT's management.

CFTC Head to Meet With Regulators on Asian Trip

The top U.S. derivatives regulator is heading to Hong Kong and Singapore as part of an effort to reconcile its postcrisis rules with those of Asian regulators.

China's Finance-Sector Opening Would Be Great News-if You Could Make Money

U.S. banks will finally get a chance to run their own securities firms in China and take big stakes in local lenders, as Beijing marks President Trump's visit with a concession. Translating that into big profits will be a lot trickier.

(END) Dow Jones Newswires

November 10, 2017 16:15 ET (21:15 GMT)