News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

With California Wildfires, Insurers' Losses Keep Spiraling Higher

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Raging wildfires in Southern California could push the amount of insured losses this year from natural disasters to a record.

The Force Behind Bitcoin's Meteoric Rise: Millions of Asian Investors

Unlike past financial frenzies such as the dot-com bubble of the late 1990s, individual investors have been first to the party, fueling bitcoin's 1,600% rise this year.

A Faster Pace of Fed Rate Increases Could Rattle Markets

Investors have greeted the Federal Reserve's string of interest rate increases with some of the most docile market conditions in years, a sign that they could be in for a shock if the central bank decides to ramp up the pace of rate rises next year.

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Economists See Three Fed Rate Rises Next Year, Lower Unemployment

Private economists expect the Federal Reserve to raise interest rates after its meeting Wednesday and then lift them three times in 2018 and twice in 2019, amid a strengthening economy and a falling unemployment rate.

Economists Give High Marks to Yellen

Federal Reserve Chairwoman Janet Yellen is getting a positive report card from economists as she prepares to leave office after four years leading the U.S. central bank.

Bet on UniCredit for Europe's Banking Recovery

The threat of higher capital charges isn't over for European banks, but UniCredit, Italy's biggest lender, can take this in its stride.

Passport Capital to Shut Flagship Hedge Fund

John Burbank's Passport Capital, famed for its profitable bets against subprime housing ahead of the financial crisis, will shutter its flagship fund after persistent losses.

SEC Chairman Warns Investors Against Bitcoin

Wall Street's top regulator on Monday raised alarms about the money flooding into bitcoin trading and other cryptocurrency markets, warning the red-hot corner of less-regulated finance is burning with risk for retail investors.

The Fed Versus Tax Cuts

The Republican tax plan has been driving the market. The Federal Reserve could be next behind the wheel.

KKR Bolsters Its Direct Lending Business

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

(END) Dow Jones Newswires

December 12, 2017 16:15 ET (21:15 GMT)