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News Highlights : Top Financial Services News of the Day

11/17/2021 | 12:16am EST
Two Fed Officials at Odds Over How to Deal With Inflation 

St. Louis Fed chief James Bullard said the central bank needs to move more forcefully to confront inflation, while San Francisco Fed leader Mary Daly stressed that moves to tamp down on price pressures prematurely could cause unneeded pain later should those pressures weaken.

Oaktree Capital Closes Its Largest-Ever Fund 

The distressed-debt manager raised $15.9 billion for its 11th Opportunities Fund.

U.S. to Sell $56 Million in Cryptocurrency Seized in BitConnect Fraud Scheme 

The seizure is the largest single recovery from a cryptocurrency fraud in the U.S., the Justice Department said.

Commonwealth Bank of Australia Reports Stronger 1Q Profit 

Commonwealth Bank of Australia said its first-quarter profit was higher, with the lender reporting above-system volume growth in core markets and a strong balance sheet.

Massachusetts Pension Aims to Double Down on Co-Investments 

The Massachusetts Pension Reserves Investment Management Board wants to double the amount of capital it commits to co-investments, where the pension invests in deals alongside its general partners, without paying them extra fees or a share of the profits.

Star Fidelity Stock Picker to Retire 

The executive will hand off his flagship Low-Priced Stock Fund to co-managers and remain as a senior adviser.

Hong Kong Defends Letting Jamie Dimon Skip Quarantine 

A whirlwind visit by JPMorgan's chief executive came just after the city tightened its Covid-19 restrictions

Bitcoin Briefly Drops Below $60,000 as Strong Dollar Weighs on Crypto 

Cryptocurrencies slid in overnight trading, with some of the most popular digital tokens losing more than 10% from recent highs. Some investors pointed to the stronger dollar as a catalyst for the fall.

Covid-19 Insurance Lawsuits Move Toward High-Stakes Phase 

Represented by law firms with deep experience in insurance-coverage disputes, big companies are preparing for dragged-out legal fights.

Norway's Competition Regulator Blocks DNB's Sbanken Takeover 

DNB Bank said the Norwegian Competition Authority has rejected the bank's proposed acquisition of digital rival Sbanken.

(END) Dow Jones Newswires

11-17-21 0015ET

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