News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Zuckerberg's Wealth Manager Wants to Be a Buyout Shop

Continue Reading Below

Iconiq Capital, a secretive wealth manager that invests money for some of the most prominent names in Silicon Valley, plans to ramp up its private-equity investing, raising the specter of possible conflicts with some of its clients.

Chinese Firm Linked to Missing Tycoon Drops Bid for Insurer

The dropped bid for Huaxia Life Insurance marks the first publicly announced activity involving companies linked to missing financier Xiao Jianhua.

Bitcoin Is Creeping Into Real Estate Deals

The real-estate industry is taking its first steps in adopting cryptocurrencies and the technology that backs them in what could eventually produce important changes in the way property is bought and sold.

Continue Reading Below

Hong Kong Tribunal Rejects HSBC Appeal, Upholds Record Fine

A Hong Kong tribunal on Tuesday upheld the bulk of a fine imposed on a unit of HSBC Holdings PLC that would be the largest ever meted out by Hong Kong's securities regulator.

Yellen to Leave Fed Board When New Chief Takes Over

Federal Reserve Chairwoman Janet Yellen said she would resign as a member of the Fed's board of governors once her successor as chairman has been sworn in.

Activist Jana Discloses Stake in Outback Steakhouse Owner

Shares of Outback Steakhouse owner Bloomin' Brands shot up on Monday after activist hedge fund Jana Partners disclosed a large stake and plans to push for change, including a possible sale.

Venezuela Turns to Billionaire Debt Investor to Help With Bond Crisis

Billionaire distressed-debt investor David Martínez urged Venezuela to default on its bonds days before the country's surprise announcement to restructure its obligations.

Nigeria Set for $3 Billion Bond Sale as Pricing Suggests Favorable Demand

Nigeria was set to sell $3 billion in debt on Monday, one of the largest bonds from an African nation and an indication that demand for some riskier investments remains strong.

Draghi Warns Brexit Could Put Financial Stability at Risk

Britain's departure from the European Union poses significant risks to the region's financial stability that regulators can't yet quantify, European Central Bank President Mario Draghi warned.

Commodity Bulls Ignoring a Few Large Elephants

Rising prices for growth-sensitive commodities have been one factor assuaging investors' fears about richly valued stocks. But investors have been ignoring warning signs in metal and energy markets too.

(END) Dow Jones Newswires

November 21, 2017 11:15 ET (16:15 GMT)