News Highlights : Top Financial Services News of the Day

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07/17/2017 | 05:16 pm

KKR Elevates Two Executives as Part of Succession Planning

KKR promoted two senior executives to run its day-to-day operations, a step in planning for the succession of Henry Kravis and George Roberts, who co-founded the private-equity pioneer in 1976.

BNY Mellon Names Former Visa Executive Scharf CEO

Bank of New York Mellon named former Visa and J.P. Morgan Chase executive Charles Scharf as its chairman and CEO, as the trust bank looks to jump-start growth and embrace the technological changes sweeping through the financial-services industry.

BlackRock's Earnings Rise On Stronger Inflows

BlackRock, the world's largest money manager, said its second-quarter earnings and sales rose as investors sought larger returns on their assets.

Chinese Firm Launches Bid to Make Credit Ratings More Transparent

China's Dagong Global aims to boost transparency in the country's often-murky world of corporate credit ratings, with plans for a digital credit-rating platform that requires companies to submit financial information daily.

Why Advisers Should Consider New Direct Real-Estate Investing Option

: Alexander Philips, CEO of TwinRock Partners, a real-estate investment firm that works with registered investment advisers, says a new option that allows retail investors direct access to real-estate projects is worth considering, even with its relative illiquidity to more-traditional REIT vehicles.

Buffett Could Be Costly Option for Sprint and SoftBank

Softbank's Masayoshi Son met with Warren Buffett to talk about an investment in Sprint-but that's not likely to come cheap.

Bitcoin Takes Weekend Slide

The price of the digital currency bitcoin fell over the weekend, dropping below $2,000 and farther away from its June highs, part of a broad selloff in dozens of cryptocurrencies.

Citigroup to Overhaul Prestige Rewards as Competition Heats Up

The bank is revamping some of the benefits on its premium credit card in an effort to sweeten the deal for coveted consumers who are big spenders.

The Other 496 S&P Stocks

So much of the market's gain this year have been powered by Alphabet, Amazon, Apple and Facebook that strategies that don't contain those stocks have been left behind.

From $2 Billion to Zero: A Fund Goes Bust in the Oil Patch

A $2 billion private-equity fund that borrowed heavily to buy oil and gas wells before energy prices plunged is now worth essentially nothing.

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