News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Pittsburgh Wealth Manager Adds Institutional Heft

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Wealth-management firm DB Root & Co. has acquired two advisory teams focused on serving corporate clients, bolstering its institutional business.

TD Bank Acquires Toronto-Based AI Startup Layer 6

Toronto-Dominion Bank said it has acquired Toronto-based startup Layer 6, a move aimed at bolstering the Canadian bank's artificial intelligence expertise amid a broader push by financial services firms in adopting the technology.

Endeavor Agrees to Acquire 160over90 for About $200 Million

Endeavor has agreed to acquire branding and marketing agency 160over90, as the entertainment and sports giant aims to bulk up its marketing services arm.

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Euro Defies Treasury Market's Gravitational Pull

The single currency has surged against the U.S. dollar, even as German bond yields have collapsed to multidecade lows against their American peers. That's not usually what happens.

Banks Seek Government Help to Track Money Laundering

Efforts to overhaul U.S. anti-money-laundering laws are gathering steam, as large banks, anticorruption groups and law-enforcement authorities coalesce around the idea of creating a national database of corporations and their true owners.

Bets Against Mall Debt Haven't Paid Off

A rash of store closures and bankruptcies last year prompted some investors to bet against debt tied to the retail property sector. So far, at least, the bets haven't paid off.

Switzerland's Central Bank Made $55 Billion Last Year-More Than Apple

Switzerland's central bank said it expects to make a record profit of $55.2 billion in 2017, citing higher global equity and bond prices as well as a weaker Swiss franc.

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

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.

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.

(END) Dow Jones Newswires

January 09, 2018 11:15 ET (16:15 GMT)