News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

A Crypto Website Changes Its Data, and $100 Billion in Market Value Vanishes

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Prices for some of the most popular cryptocurrencies dropped sharply Monday. One apparent reason: an adjustment from a popular website on its digital-currency price quotes.

U.S. Consumer Credit Posts Largest Gain in 16 Years

Outstanding consumer credit rose by $27.95 billion in November from the prior month, the biggest increase since November 2001, according to new data from the Federal Reserve.

Hedge Funds Help Produce Surprise $900 Million Tax Bonus for Connecticut

Some big tax checks from Wall Street are providing Connecticut with a surprise bounty that the state will set aside for future fiscal emergencies.

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Bill Aims to Make Companies File for Bankruptcy Closer to Home

Senate lawmakers have introduced a bill that would force struggling companies to file for bankruptcy protection in a courtroom close to their headquarters, closing a controversial loophole that has enabled the country's biggest restructurings to unfold in New York and Delaware.

Finra to Examine Off-Exchange Trading

Regulators have expressed worry for years that too much trading has migrated away from stock exchanges and onto private systems operated by brokers. Now Wall Street's self-policing arm will be examining how often the arrangement benefits investors and not just brokers.

Blackstone's Latest Acquisition Target: Your Insurer's Money

Blackstone Group is turning to a New York Life Insurance executive to pursue at least $100 billion in assets from insurance companies, part of a larger push by the Wall Street giant to broaden its customer base.

Middle-Market Investment Banks Capstone Partners, Headwaters Merge

Capstone Partners and Headwaters have merged to create one of the largest independent investment banks in the U.S. serving middle-market clients.

Once-Hungry Investors Pass on Meal-Kit Startups

Just a few years ago, delivering packages containing premeasured ingredients to be assembled into meals was a novel one. But now venture capitalists and other investors are losing their appetites.

Goldman Names Financial, Strategic Investor M&A Head

Goldman Sachs has named David Friedland as global head of a group that provides deal advisory services to private-equity firms, pension funds, family offices and other investors .

South Korea Steps Up Cryptocurrency Inspections at Banks

South Korean regulators said they have started on-site inspections of the country's large commercial banks, marking a change of tack in authorities' efforts to clamp down on cryptocurrency speculation in one of Asia's hottest bitcoin markets.

(END) Dow Jones Newswires

January 09, 2018 00:15 ET (05:15 GMT)