News Highlights: Top Financial Services News of the Day

03/01/18 12:15 AM EST
Jared Kushner's Ties to Banks Under Scrutiny 

The New York State of Department of Financial Services asked several banks for information about their relationships with Jared Kushner and his finances, people familiar with the information requests said.

SEC Launches Cryptocurrency Probe 

The Securities and Exchange Commission has issued scores of subpoenas and information requests to technology companies and advisers involved in the red-hot market for digital tokens.

Deloitte's $150 Million Mortgage Headache 

Accounting firm Deloitte & Touche LLP agreed to pay $149.5 million to settle Justice Department allegations that it failed to head off a huge fraud at a mortgage company that collapsed during the financial crisis.

More Firings at Bank of America Amid Sexual-Misconduct Probe 

Bank of America fired at least two employees in its prime-brokerage unit as it expands an investigation into potential sexual misconduct in the business.

Bill Ackman Surrenders in His Five-Year War Against Herbalife 

William Ackman is ending his crusade against Herbalife Ltd., in what amounts to a bruising defeat in one of Wall Street's longest-running, most expensive and nastiest fights.

Campus Recruiting Hurts Older Workers, Suit Against Accounting Firm Claims 

Many large employers travel to college campuses each year to recruit entry-level workers. But a lawsuit against PricewaterhouseCoopers argues that older job applicants are disadvantaged by such hiring practices.

Why International Investors Aren't Buying Treasurys 

The rise in Treasury yields should make U.S. debt more attractive to international investors still struggling with low returns at home-yet few are buying.

For Activist Investors, Board Power Depends on Where You Sit 

The most popular board appointment for activists is the compensation committee, according to a Wall Street Journal analysis of agreements between activist investors and big companies from 2015 to 2017.

Mnuchin, Dogged By Protesters, Doesn't Want Video Posted 

Treasury Secretary Steven Mnuchin asked the University of California, Los Angeles not to post a video of his recent public appearance at which he was heckled by students.

Indonesia Seizes Yacht Wanted in 1MDB Probe 

Indonesia police said they had confiscated a luxury yacht, Equanimity, which is controlled by the Malaysian financier who the U.S. Justice Department alleges directed a fraud involving money from 1Malaysian Development.


(END) Dow Jones Newswires

March 01, 2018 00:15 ET (05:15 GMT)

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