News Highlights: Top Financial Services News of the Day

Barclays Warns Over U.K. Economic Uncertainty 
 

Barclays posted record revenue in its investment bank in the third quarter but warned that its U.K. business is feeling effects from Britain's planned departure from the European Union.

 
Citigroup Puts Jane Fraser in Line to Succeed Corbat as CEO 
 

Citigroup tapped its Latin America chief, Jane Fraser, to serve as the bank's No. 2 executive, putting her atop the list to succeed Chief Executive Michael Corbat.

 
Visa Reports Better-Than-Expected Revenue 
 

Higher spending on Visa's credit and debit cards drove profit and revenue higher in the latest quarter.

 
Finra Fines BNP Paribas $15 Million Over Money-Laundering Controls 
 

The Financial Industry Regulatory Authority said it fined BNP Paribas SA $15 million for failing to develop a program that could detect suspicious activity in penny stocks and wire transfers.

 
Executive to Leave Fast-Growing Hedge-Fund Start Up 
 

Peter Hornick, an executive at the largest-ever hedge fund startup, ExodusPoint Capital, is leaving after less than two years, people familiar with the matter said.

 
PayPal's Results Put Charge in Share Price 
 

PayPal shares soared after the financial-tech company reported a jump in its user base and progress in making money from its Venmo service.

 
U.S. Probes Whether Private-Equity Chief Bribed Pakistani Politicians 
 

U.S. prosecutors are investigating whether the founder of bankrupt private-equity firm Abraaj Group bribed former Pakistan prime minister Nawaz Sharif and other politicians, according to people familiar with the matter.

 
RBS Swings to Loss as PPI Costs Surge 
 

Royal Bank of Scotland reported a modest third-quarter loss after it booked higher PPI costs of GBP900 million following a late surge in claims ahead of the August deadline.

 
Chicago Fed Board Chief Can Continue While Former Firm Under Investigation 
 

The chairwoman of the board of directors of the Federal Reserve Bank of Chicago can continue in that role while her former employer is the subject of a federal probe, the regional Fed bank said.

 
Fed Boosts Amount of Liquidity Offered to Financial System 
 

The New York Fed's expanded offerings of liquidity to the financial system saw strong demand from eligible banks.