News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

World Bank Chief Economist Paul Romer Resigns

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World Bank Chief Economist Paul Romer has resigned, according a memo viewed by The Wall Street Journal.

What the KPMG Conspiracy Case Revealed About Its Audits

The indictment earlier this week of former KPMG partners and employees shed light on the regulatory process for accounting firms and a revolving door with the agencies involved. But it was also a reminder of concerns about the quality of the audits done by the biggest accounting firms.

SEC Has Opened Probe of GE's Accounting

General Electric Co. revealed securities regulators have opened a probe into the company's accounting practices and said it is conducting "a deep review," including restating 2016 and 2017 financial results.

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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.

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.

Investors Snapping Up New Blockchain ETFs

Investors have poured almost $180 million into two week-old ETFs that buy companies that have invested in blockchain.

Capital One Gets Shy on Guidance

Capital One Financial didn't have a good experience giving default guidance for 2017

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.

Custody Banks Aren't Flashy, But Their Shares Are

Wall Street's less glamorous players are suddenly among the hottest stocks in the financial world as shares of State Street, Northern Trust and Bank of New York Mellon outperform the S&P 500 and KBW Bank indexes.

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.

(END) Dow Jones Newswires

January 24, 2018 16:15 ET (21:15 GMT)