News Highlights: Top Financial Services News of the Day
Can the Biggest U.S. Bitcoin Exchange Win Over Wall Street?
Coinbase enjoyed phenomenal growth in late 2017 as small investors piled into bitcoin. Now it is trying to attract hedge funds and other big investors.
Banks Won Big in Washington. What It Means for Investors
The financial-deregulation bill passed by the U.S. Congress this week is the latest phase in the eternal tug-of-war between regulators and banks. As fast as governments impose limits on the financial industry, banks, brokers and other firms fight back.
Fed Officials Say Raising Rates Gradually Remains the Best Approach
The leaders of the Atlanta and Dallas Fed banks said they remain committed to a gradual path of rate increases, indicating they see no need to lift borrowing costs more aggressively because of firming inflation.
Hedge Funds Raise Bets Against Italy, Bond Yields Soar
As hedge funds scour the globe for weak spots in what have been mainly placid markets, Italy is becoming a prime target.
Platinum Partners' Co-Founder Pleads Guilty to Fraud
Murray Huberfeld pleaded guilty Friday to a single count of wire-fraud conspiracy in what prosecutors had called a bribery-and-kickback scheme. Others connected to defunct hedge fund face more charges.
Carl Icahn Sells About $550 Million of His Herbalife Stake
Carl Icahn is paring down his investment in Herbalife Nutrition, locking in profits and cementing a victory over fellow activist William Ackman, who earlier this year bailed on a yearslong Herbalife short campaign that likely lost him hundreds of millions of dollars.
Best-Paying Industry? It's Not Banking
More than 100 companies in the S&P 500-many in biotech and energy- routinely paid employees $100,000 or more in 2017.
Once a Wall Street Force, Cruz Moves to the Cryptocurrency World
Zoe Cruz, a currency trader whose rise through the ranks at Morgan Stanley made her one of the most powerful women on Wall Street, is attempting a comeback in the cryptocurrency world.
Bull Market in Tech-Company Convertible Debt Rages On
Publicly traded technology companies have been issuing bonds that convert into equity at a pace unseen since the height of the dot-com bubble as demand for tech stocks surges.
Fed's Powell Says Central Banks Can't Take Independence for Granted
An erosion of public trust in institutions could threaten the independence of central banks and requires greater transparency from policy makers following the 2008 financial crisis, Fed Chairman Jerome Powell said.