News Highlights: Top Financial Services News of the Day
Fidelity Posts Improved Profit
Fidelity Investments posted record revenue and profit last year as assets hit new highs and investment performance improved. In 2017 Boston-based Fidelity reported $18.2 billion in revenue, up 13.7% from the prior year.
JPMorgan Says Tax Changes Will Lead to More Profitability
JPMorgan Chase says it is optimistic about 2018 and the impact the new U.S. tax law will have on its financial outlook, moving a key profitability metric to roughly 17% compared with its prior target of 15%.
Goldman Sachs, Adviser to the Elite, Wants to Be Your Local Banker
The Wall Street powerhouse is hunting for growth in businesses it once dismissed as pedestrian, such as car loans, insurance and wealth management for the masses. One reason: Trading revenue has stalled.
Powell Backs Raising Threshold for 'Systemically Important' Banks
Federal Reserve Chairman Jerome Powell voiced support for a provision in a bipartisan Senate bill to raise the threshold at which banks are subject to tighter oversight.
Fed's Powell Says His Economic Outlook Has Improved
Federal Reserve Chairman Jerome Powell told lawmakers he has become more optimistic about the U.S. economy this year and that the central bank remains on track to gradually lift short-term interest rates.
CFTC Steps Up Enforcement Against Fraud, Manipulation
U.S. derivatives regulators are expected to file "more than 10" fraud and market-manipulation cases in the next weeks as the Commodity Futures Trading Commission chairman implements his back-to-basics approach.
Dividends Climb, as Does Competition From Bond Yields
Dividend boosts from an array of companies come as firms report some of their best earnings and sales in years, supporting the nearly nine-year bull run in stocks. But rising bond yields threaten to diminish the allure of high-dividend stocks.
Oilman T. Boone Pickens Is Becoming an ETF
T. Boone Pickens--the wildcatter, corporate raider, cattle trader and investor--will become an exchange-traded fund on Wednesday.
Japanese Are Selling U.S. Bonds Over Budget, Dollar Fears
Some Japanese investors say they are shifting toward selling U.S. Treasury bonds and other dollar-based debt after fears have picked up in recent weeks that the Trump administration's budget and other policies add up to a weak dollar.
India's Hot Bond Yields Put Chill on Debt
Yields on 10-year Indian government bonds have climbed nearly half a percentage point since late December, exposing a rift between the central bank and the financial institutions it governs.
(END) Dow Jones Newswires
February 27, 2018 16:15 ET (21:15 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.