News Highlights: Top Financial Services News of the Day

02/26/18 07:15 AM EST
Fidelity Rethinks Star Stock-Picker System 

Fidelity Investments is considering abandoning the investment process that made its managers famous after the mutual-fund giant received complaints about alleged sexual harassment and other misconduct.

Trump's SEC Makes Slow Progress on Trimming Rules 

Jay Clayton, President Donald Trump's pick to lead the U.S. Securities and Exchange Commission, can point to a series of small, targeted actions aimed at easing the regulatory burden for companies nearly 10 months into his tenure.

Deutsche to Proceed With DWS IPO 

Deutsche Bank plans to go ahead with the listing of its asset-management business DWS at the earliest opportunity.

Investors' Zeal to Buy Stocks With Debt Leaves Markets Vulnerable 

Investors borrowing record sums to bet on stocks exacerbated this month's selloff, after they were hit with calls to reduce those obligations and forced to sell shares to raise cash.

Blackstone Wants To Know About Funds' Gun Investments 

Blackstone Group asked outside fund managers over the weekend to detail their ownership in companies that make or sell guns, requesting the information by Sunday night, according to people familiar with the matter.

McKinsey & Co. Names Kevin Sneader New Global Managing Partner 

Consulting giant McKinsey & Co. said Kevin Sneader, who leads its Asia-Pacific operations, will take over as the firm's global managing partner in July.

What Investors Are Missing in Junk Bonds 

The high-yield market has gotten more diversified but many investors are stuck with old, U.S.-heavy indexes.

JPMorgan CFO Emerges as Contender to Succeed Dimon 

Marianne Lake, JPMorgan Chase & Co.'s chief financial officer, is one of the most senior women on Wall Street and has been on the short list of possible successors to CEO James Dimon. The bank's announcement last month of executive moves makes her an even more likely contender.

Berkshire Reaps $29 Billion Windfall From New Tax Plan 

Berkshire Hathaway posted a $29 billion gain in 2017 related to changes in U.S. tax law, a one-time boost that inflated annual profits for the Omaha conglomerate.

ECB Pulls Plug on Latvia's Failing ABLV Bank 

The Latvian bank, facing U.S. sanctions for allegedly helping North Korea, will be wound up under local laws after the European Central Bank declared it "failing or likely to fail."


(END) Dow Jones Newswires

February 26, 2018 07:15 ET (12:15 GMT)

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