News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Dollar Hits New Low After Mnuchin Says Weakness Aids Trade

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The dollar dropped to its lowest point since late 2014 against a basket of leading global currencies following comments from Treasury Secretary Steven Mnuchin that a weaker greenback is good for trade.

Private Equity Expected to Benefit From Tax Overhaul

The private-equity industry is set to get a shot in the arm from the tax overhaul, a new analysis shows.

Wall Street Shores Up Its Brokerage Game

Wall Street's efforts to reinvent the traditional brokerage business are starting to pay off, as latest financial results from Morgan Stanley and Merrill Lynch showed strength in fee-based revenue and a plateau in broker defections

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Large Deals Set Record Pace in January

Global dealmakers set a blistering pace for larger transactions during the first three weeks of 2018, free of the uncertainty surrounding U.S. tax policy that plagued deal talks last year.

Hedge Funds Grow Wary of Cryptocurrency Mania

Their caution is the latest sign of doubt among investors that the red-hot rise of bitcoin and its ilk is sustainable.

Senate Confirms Jerome Powell as Federal Reserve Chairman

The Senate confirmed Jerome Powell to become the 16th chairman of the Federal Reserve, clearing the way for a new leader likely to continue raising interest rates to keep the economic expansion on track.

How JPMorgan Will Spend a Big Chunk of Its Tax Windfall

JPMorgan Chase is unrolling a $20 billion, five-year investment across its businesses based on benefits from recent tax-law changes, a softer regulatory environment and its overall growth.

Clash Between Founder and Protégé Plunges Och-Ziff Into Crisis

Och-Ziff Capital Management faces turmoil as founder Daniel Och upends plan for James Levin to succeed him as head of the U.S.'s largest publicly traded hedge fund. Behind the rift: money and control.

Court Drops Government's Appeal of MetLife Case

A federal appeals court dismissed a case involving MetLife Inc.'s designation as a "systemically important financial institution," the last step in the insurer's path to shedding the label.

UBS Shakes Up Wealth-Management Division's Top Ranks

UBS Group shuffled the top ranks of its wealth-management division, as the world's largest wealth manager continues to revamp a unit that is expected to be a key driver of profits but faces intense competition.

(END) Dow Jones Newswires

January 24, 2018 11:15 ET (16:15 GMT)