News Highlights: Top Financial Services News of the Day

JPMorgan Deal Shows Possible Path to Smaller Fannie and Freddie 
 

A move by JPMorgan to shed risk on some of its mortgage loans is stirring hope that the tactic could help reduce the government's role in the $11 trillion mortgage market.

 
Executives Convicted in Long-Running Italian Banking Scandal 
 

A Milan court on Friday convicted 13 former and current executives of Banca Monte dei Paschi di Siena, Deutsche Bank and Nomura International in a long-running judicial saga tied to losses at the troubled Italian bank.

 
As WeWork Grew, Wall Street Lent It Money, Credibility 
 

Banks jockeying for a role in WeWork's public debut wooed founder Adam Neumann with sky-high valuations that would make him a billionaire many times over. Their loans to the company told a different story.

 
Blackstone Takes Controlling Stake in Owner of Dating App Bumble 
 

Blackstone Group is taking a majority stake in the owner of dating app Bumble as part of the private-equity giant's broader push to invest more in fast-growing companies.

 
Allianz Upbeat as Profit Edges Higher 
 

Allianz said it expects full-year operating profit to be in the upper half of its target range after the German insurer posted a slight rise in third-quarter net profit to EUR1.95 billion.

 
Fed's Brainard Says Climate Change Might Have Implications for Neutral Interest Rate 
 

Federal Reserve governor Lael Brainard said the central bank is ramping up its efforts to understand the implications of climate change for monetary policy.

 
Credit Agricole Profit Beats Forecasts 
 

Credit Agricole posted an above-forecast third-quarter net profit of EUR1.2 billion on a 4.8% rise in revenue and said its core Tier 1 ratio edged higher.

 
Financial Services Roundup: Market Talk 
 

The latest Market Talks covering Financial Services

 
Moody's Downgrades India's Outlook to Negative 
 

Moody's Investors Service has downgraded its outlook for India to negative from stable, citing increased risks to its economic growth.

 
Tower Research to Pay $67 Million to Settle Spoofing Claims 
 

Tower Research agreed to pay $67 million to settle regulatory claims that its traders manipulated the price of stock-index futures.