News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Raises Rates, Sticks to Forecast for 2018 Increases

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The Federal Reserve said it would raise short-term interest rates for the third time this year and remained on track to chart a similar path next year, signaling continuity as the central bank enters a leadership reshuffle.

Nearly 5 Million Americans in Default on Student Loans

The number of Americans severely behind on payments on federal student loans reached 4.6 million in the third quarter, a doubling from four years ago, despite a historically long stretch of U.S. job creation and steady economic growth.

After Bitcoin Futures, an ETF Could Be Next

The debut of bitcoin futures trading this week is rejuvenating efforts to list the first exchange-traded fund linked to the cryptocurrency.

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As Other Markets Stall, Traders Rush Into Bitcoin Boom

Traders weary of modest returns in commodity markets are now rushing into the booming world of bitcoin, seeking to mint money in one of the riskiest assets.

Bitcoin Made This Man (Briefly) One of the Richest People in America

The stock of an obscure pink-sheet company attempting to make money out of cryptocurrencies skyrocketed earlier this month, making CEO Michael Poutre a paper multibillionaire-before it plunged.

Yellen: No Big Differences Between Her, Powell on Bank Rules

Federal Reserve Chairwoman Janet Yellen doesn't expect the Fed will dramatically depart from its current course on bank rules after she leaves early next year.

Bitcoin Mania Comes to the Stock Market

Investors are flinging cash at The Crypto Company because bitcoin is going up. At its peak on Monday, Crypto was worth more than a quarter of the companies in the S&P 500.

HFR Launches Cryptocurrency Index as Fund Managers Eye Red-Hot Sector

Chicago-based data group HFR is launching an index of hedge funds that invest in cryptocurrencies, in a sign of how managers are increasingly eyeing these assets as a way of boosting flagging returns.

China's HNA Group Seeks to Reassure Lenders, Investors

Chinese conglomerate HNA Group is working to persuade lenders and investors that it is financially sound following sharp declines in the prices of bonds and shares of some of its units.

What Car Insurers Can't Ask You When Setting Your Rates

New York regulators banned the use of education and occupation as factors in setting auto-insurance premiums, pushing back on insurers' efforts to use personal data in determining policy rates.

(END) Dow Jones Newswires

December 14, 2017 00:15 ET (05:15 GMT)