News Highlights: Top Financial Services News of the Day
Great Eastern Holdings in Talks With Malaysia's Largest Pension Fund
Singapore-based insurer Great Eastern Holdings is in exclusive talks with Malaysia's largest pension fund to sell it a minority stake in its Malaysian insurance unit, a deal that could fetch as much as $1 billion, according to people familiar with the discussions.
Wells Fargo Rebuke Puts Bank Boards in Fed's Crosshairs
The Federal Reserve's unprecedented move to handcuff growth at Wells Fargo & Co. sent a message that boards of directors, not just management, will be held accountable when big banks fail to manage risks.
Challenges on Inflation Policy, Tax Cut Loom as Powell Era Begins at Fed
The market's recent selloff crystallizes four challenges facing Jerome Powell, the Federal Reserve's new chairman, who takes charge Monday.
Bitcoin's Crashing? That Won't Stop Arbitrage Traders From Raking in Millions
One of the oldest tactics on Wall Street is going viral in the world of digital currencies. The strategy, called arbitrage, is simple. If a something trades at different prices in multiple places, buy it where it's cheap and sell where it's dear.
JPMorgan to Banking Clients: Joint Health-Care Venture Is No Threat
JPMorgan Chase & Co.'s employee health-care initiative with Amazon and Berkshire Hathaway raised worries among some of the bank's clients of a potential competitive threat.
As Stock-Market Rout Spreads, Investors Fear Markets Falling in Lockstep
U.S. stocks last week suffered their largest weekly decline in two years. But some investors worry falling prices for things like oil futures, gold and bitcoin are offering a more ominous signal that could presage deeper declines.
Credit-Card Companies to Add to Bitcoin Investors' Misery
Three of the largest banks in the U.S.-Citigroup, JPMorgan Chase and Bank of America-said they would no longer permit credit-card customers to buy bitcoin with their credit cards.
Abraaj Investors Hire Auditor to Trace Money
Four investors in a $1 billion health-care fund managed by Dubai's Abraaj Group, including the Gates Foundation, have hired a forensic accountant to examine what happened to some of their money, people familiar with the situation said.
BlackRock: Companies Should Have At Least Two Female Directors
BlackRock, the world's largest money manager, is for the first time stating publicly that companies in which it invests should have at least two female directors.
Janet Yellen Leaves the Fed-and a Glass Ceiling Shattered
Janet Yellen broke a glass ceiling when she became the first Federal Reserve chairwoman, making her departure from the central bank bittersweet for some.
(END) Dow Jones Newswires
February 05, 2018 00:15 ET (05:15 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.