News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

The Dow Has What Investors Want

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The Dow Jones Industrial Average has done very well lately, with a total return of 27% since the end of 2016, versus 24% for the S&P 500. And that has less to do with the quirk of how the Dow is constructed than what is in it.

Allstate Shakes Up Management Team

Allstate Corp. promoted three executives Thursday ahead of the retirement of President Matt Winter.

CFTC Moves to Address Industry Concerns Over Virtual Currencies

The top U.S. derivatives regulator is moving to address financial-industry concerns over its oversight responsibilities for virtual currencies and related futures products.

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Western Union to Pay $60 Million to Settle New York Regulator Investigation

A subsidiary of money-transfer company Western Union Co. will pay $60 million to the state of New York to resolve an investigation into whether it had appropriate safeguards to prevent wire fraud and money laundering.

Disasters Don't Whip Up Insurance Pricing Power

Global insurers suffered one of the worst ever years for catastrophe claims in 2017. Yet the reinsurers that backstop the industry's worst losses are still struggling to lift prices.

Fed's Bullard: Inflation Targeting Effective at Keeping Price Pressures in Check

St. Louis Fed President James Bullard said the U.S. central bank's long-running approach to inflation coupled with it decision to adopt an official inflation target several years ago have been instrumental in keeping price pressures contained.

Challenge for Vanguard's New CEO: Keep a Behemoth Growing

Vanguard's new chief executive, Mortimer J. "Tim" Buckley, has a challenge his three predecessors didn't: How to grow a firm that is already the world's second largest investment manager.

Bitcoin: The Rise of the Regulators

Bitcoin has a reputation as the Wild West of financial markets. But the sheriffs are increasingly closing in. In this video, Steven Russolillo travels the world (sort of) to see how the remarkable rise of cryptocurrencies has drawn a response from regulators.

Apollo-led Investor Group Buys Stake in OneMain

An investor group led private-equity firm Apollo Global Management is buying a 40.5% stake in subprime lender OneMain Holdings.

Bitcoin Isn't a Currency, It's a Commodity-Price It That Way

Bitcoin enthusiasts call it a currency, but it has a lot in common with gold. And if bitcoin is a digital precious metal, investors should start pricing it that way, by watching the fundamentals.

(END) Dow Jones Newswires

January 04, 2018 16:15 ET (21:15 GMT)