News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

KKR Takes Over $4.1 Billion Blackstone-Managed BDC

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KKR & Co. LP is replacing Blackstone Group LP as the manager of FS Investment Corp., a business development corporation.

HSBC to Be Released From U.S. Deferred Prosecution Pact

HSBC is to be released from a controversial agreement that let it avoid U.S. criminal charges in 2012, after it was judged to have sufficiently improved its systems to keep out financial criminals.

App Maker Halts Initial Coin Offering After SEC Investigation

The Securities and Exchange Commission intervened to halt a $15 million initial coin offering that would have evaded laws for how securities must be sold. The case is the first in which the SEC has taken action against an ICO without making fraud claims.

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Iron Mountain to Acquire IO Data Centers' U.S. Operations for $1.32 Billion

Records-storage company Iron Mountain Inc. will acquire the U.S. operations of private equity-backed data-center manager IO Data Centers LLC for about $1.32 billion.

Bitcoin Buyers Get Unwanted Message: Wait in Line

Some of the world's biggest cryptocurrency exchanges have experienced disruptions in recent days as interest in bitcoin surged in the weeks leading up to Sunday's launch of bitcoin futures.

The Future Is Bumpy: High-Tech Hedge Fund Hits Limits of Robot Stock Picking

Voleon is among funds deploying machine learning, a technology in which computers develop trading strategies. It's harder than it sounds, given that markets are noisy and clients often want a better understanding of how their money is being invested.

Startup Affirm Nears $2 Billion Valuation After Investment

Financial-technology startup Affirm Inc. said Monday that it raised $200 million in new equity as it battles larger players getting into its core business of lending to consumers for retail purchases.

Icahn to Launch New Board Fight With Xerox

Activist investor Carl Icahn plans to launch a new board fight with Xerox in an attempt to change management of the company, his second offensive against the copy-machine maker in a roughly two-year span.

Stop Talking About Bitcoin's Market Cap

Enthusiasts say bitcoin is taking over the world. But comparisons to real companies, currencies and countries are flawed measures for the cryptocurrency.

Treasury Says GOP Economic Agenda Would Pay for Tax Cuts

Treasury Department said the Republican economic agenda would generate enough economic growth to pay for the tax cuts being considered by Congress, using growth assumptions exceeding the official congressional estimates.

(END) Dow Jones Newswires

December 12, 2017 00:15 ET (05:15 GMT)