News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

HSBC Receives First Dividend From U.S. Unit in More Than a Decade

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HSBC said it took its first dividend since 2006 from its U.S. bank in April, a milestone in the lender's yearslong turnaround, and posted better-than-expected first-quarter profit.

Puerto Rico Bond Insurer Becomes First to Challenge Restructuring Plan

A bond insurer looking to minimize losses on $5.4 billion in Puerto Rico bond guarantees has fired the first legal volley following the U.S. territory's entry into court protection.

How a Hedge-Fund Ace Chased Silicon Valley Riches-and Embarrassed Himself

Wellington's Nick Adams made his career in bank stocks before pouring money into tech startups. The result: an apology, refunds and a vow to get back to basics.

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Canadian Imperial Sweetens Its Offer for PrivateBancorp

Canadian Imperial Bank of Commerce again sweetened its offer for PrivateBancorp, its latest attempt to win over the shareholders of the Chicago-based bank.

SocGen 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.

EU May Force U.K. Clearinghouses to Relocate Due to Brexit

London risks losing its dominance over the multi-trillion dollar clearinghouse market after the European Union confirmed it was considering ordering clearinghouses to move.

Insurers Signal Big Shifts in State Health Plans

Health insurers signaled more pullbacks and rate increases for medical coverage plans offered on state exchanges, playing into the debate over the House Republican health bill expected to come to a vote Thursday.

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.

Banks Pull Back on Car Loans as Used-Auto Prices Plummet

After years of revving up auto loans, the banking industry is sounding a more cautious tone-and it's being felt on car lots.

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 11:15 ET (15:15 GMT)