News Highlights : Top Financial Services News of the Day

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02/14/2018 | 01:16 pm


Idaho Insurer to Sell Plans at Odds With Federal Health Law



Blue Cross of Idaho said it plans to sell insurance that doesn't meet all the requirements of the Affordable Care Act, a move that could force the Trump administration to take a stance on the legality of such products.




Sweden's Riksbank Says Rates Will Go Up, but It Won't Act Hastily



Interest rates in Sweden will rise in 2018, the central bank said, but it added that it won't act hastily given new uncertainties about the outlook for inflation and to avoid a sharp appreciation in the national currency.




Credit Suisse Posts Third-Straight Loss but Says Strategy Is Working



Credit Suisse posted its third-straight annual loss as the U.S. corporate tax overhaul forced the Swiss banking giant to write down over $2 billion in deferred-tax assets.




Credit Agricole Profit Jumps By A Third



Credit Agricole posted a 33% jump in fourth quarter net profit despite the negative effect of tax items.




White House Considering Loretta Mester for Fed's No. 2 Job



The White House is considering nominating Cleveland Fed President Loretta Mester as vice chairwoman of the Federal Reserve Board in Washington, according to people familiar with the matter.




Indian Bank Alleges $1.77 Billion Scam at One of its Branches



India's second-largest state bank uncovered a scam involving transactions worth some $1.77 billion at one of its Mumbai branches, sending shares plunging as investors waited to see whether its bottom line would be damaged.




Blackstone, Other Private-Equity Firms May Sit Out Infrastructure Push



Private-equity firms raised a record sum for infrastructure investment last year, aided by President Donald Trump's promise to pump a trillion dollars into America's aging roads and bridges. That was the easy part. Spending it is another matter.




China to Allow 'Netting' to Settle Foreign-Exchange Forward Contracts



China took new steps to modernize and open up the way its currency is traded, making a gesture of commitment to change after the yuan suffered last week its biggest one-day decline in more than two years.




MetLife Pegs Number of Workers Missing Benefits at 13,500



MetLife said roughly 13,500 workers were left without their monthly retirement benefits over the past quarter century because of a records mistake, the first time the insurance giant disclosed the specific number of people affected by the pension snafu.




Axar Capital Management Takes a Stake in a Real Estate Debt Firm



A provider of junior debt in the real-estate industry is taking on a new partner in anticipation of what the firm's co-founder expects will be a shakeout in the business. Axar Capital Management LP, a hedge fund and investment manager, has acquired a stake in Terra Capital Partners.






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