News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Fed Sees Growth Rebounding, Stays on Track for Rate Rises

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The Federal Reserve said it expected economic growth to rebound after a soft first quarter, signaling the central bank is likely to continue gradually raising short-term interest rates this year if it is right.

HSBC Beats Expectations, Fueling Hopes of More Share Buybacks

HSBC reported a bigger-than-expected first-quarter profit, supporting investor hopes the bank could buy back more shares this year.

SocGén to Pay $1.1 Billion to Settle Dispute With Libya Fund

Société Générale said it had agreed to pay $1.1 billion to settle claims that it paid a middleman alleged bribes to secure business from Libya's sovereign-wealth fund during the final years of dictator Moammar Gadhafi's rule.

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Avis Strikes Deal to Delay Agitation From Biggest Shareholder

Avis Budget Group said Wednesday it has reached a deal with its largest shareholder to forestall the hedge fund from pushing for bigger changes at the car-rental company.

Embattled Mortgage Lender Home Capital in Talks With Possible Buyers

Embattled Home Capital Group Inc., which is scrambling to stem a dramatic exodus of deposits, has entered discussions with potential buyers, people familiar with the matter said.

Square Inc. Narrows Loss

Square Inc. slashed its losses much faster than expected and announced new technology and international expansion in the U.K.

AIG Swings to Profit, Helped by Cost Cuts

AIG reversed a year-earlier first-quarter loss with cost-cutting and better investment returns, the latter of which also helped results from MetLife, Prudential and Lincoln National.

Allianz Profit Slightly Below Forecasts

German insurer Allianz said earnings fell 18% to EUR1.8 billion in the first quarter, largely due to a strong comparative first quarter in 2016. Analysts had forecast earnings of EUR1.9 billion.

Senate Panel to Revive Mortgage-Overhaul Efforts with First Hearing Next Week

A key Senate panel's work on an overhaul of the mortgage-finance system is about to hit a turning point: its first hearing on how, exactly, to refashion Fannie Mae and Freddie Mac.

Deal to Prop Up Malaysia's 1MDB Falls Apart

The Chinese government refused to authorize a state-owned company's agrement to invest in a real-estate project in Kuala Lumpur, nixing what was a cornerstone of efforts to bail out a Malaysian fund engulfed in scandal.

(END) Dow Jones Newswires

May 04, 2017 07:15 ET (11:15 GMT)