News Highlights: Top Financial Services News of the Day
Berkshire Hathaway's Business Wire Suffers Cyberattack
Business Wire, the corporate news-release distributor owned by billionaire Warren Buffett's Berkshire Hathaway Inc., is experiencing a cyberattack that has caused some outages for nearly a week.
Powell to Give Congressional Monetary Policy Testimony Feb. 28-March 1
Federal Reserve Chairman Jerome Powell will deliver his first semiannual monetary policy report to Congress.
Guggenheim Partners Spins Out $13 Billion Unit to Executive Following Lawsuit
Guggenheim Partners said it has spun out a $13 billion computer-driven investing business to a senior money manager who recently sued the financial firm.
The Market's Big Bet on Calm Turns Ugly as Volatility Returns
Investment firms and individual investors made big money over the past year betting markets would remain placid. Now they are suffering as markets suddenly are turning volatile.
Market Turmoil Threatens IPO Recovery
January was a record month for U.S. initial public offerings as the strong equity market encouraged many companies to list their shares. But the turmoil that erupted last week threatens to stop that momentum in its tracks.
Quants Embrace Recent Selloff Even as Everyone Blames Them For It
A day after the stock market plummeted more than 1,100 points, quantitative traders were made the scapegoat by many investors and even the Treasury Secretary. But within these high-powered "quant" funds, some see the selloff as the best opportunity in a few years to make money.
Tim Pawlenty to Leave Financial-Industry Group
Tim Pawlenty, the former Minnesota governor, said he is stepping down as head of a prominent financial-industry group next month, amid signals he is weighing another gubernatorial run.
Student Aid Would Fall by $15 Billion Under GOP Bill, CBO Says
Americans enrolling in college over the next decade would receive about $15 billion less in subsidies than under current law if House Republicans pass their education bill, according to an official estimate Tuesday.
For Banks, This Volatility Is Too Much
Banking stocks have been hit along with everything else the past couple days. Are investors making a mistake?
How Bets Against Volatility Fed Stock Market Rout
A plunge in global equity markets has thrown light on the increasingly popular strategy of shorting volatility. The growth of this trade contributed to the largest fall in some U.S. equity markets since 2011.
(END) Dow Jones Newswires
February 07, 2018 00:15 ET (05:15 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.