News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Barclays Chair Backs Embattled Staley Over Whistleblowing Probe

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Barclays Chairman John McFarlane defended the bank's chief executive, Jes Staley, as several shareholders called for the U.S. banker to be fired over his role in trying to unmask a whistleblower

French Insurer AXA to List U.S. Unit

French insurance company AXA plans to take its large U.S. life-insurance operations public, selling shares in a company that also will be home to the AllianceBernstein Holding asset-management business.

Mario Draghi Brushes Off Calls to End ECB's Monetary Stimulus

European Central Bank President Mario Draghi defended the ECB's monetary stimulus before Dutch lawmakers on Wednesday in a rare visit to a national parliament, as pressure builds in Northern Europe for a policy change from Frankfurt.

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General Electric Issues $8.7 billion Euro Bond After French Election

General Electric issued a EUR8 billion ($8.7 billion) bond, capitalizing on the release of pent-up demand following the French election.

The Private-Equity World Has a New Rival: Monaco

The tiny city-state of Monaco, haven for the ultrarich nestled along the French Riviera, is creating its first ever government-backed investment fund.

States Fire Another Salvo Against National Fintech Charter

State regulators said Wednesday they are revamping a nationwide platform for licensing nonbank financial firms, a move partly aimed at staving off a federal regulator's plan to create its own specialty charter for fintech firms.

J.P. Morgan Expands Investment in Detroit

Encouraged by its return on a $100 million bet it made on the Motor City three years ago, J.P. Morgan Chase & Co. is planning an additional $50 million investment in Detroit's revitalization efforts.

The Surprising Losers From the VIX's Decline

The low level of the market's so-called fear gauge is not only bad news for investors who bet on higher volatility, it is bad for conservative investing strategies that profit directly from market choppiness, too.

AXA's U.S. IPO Looks Like the Start of a Long Goodbye

AXA's plan for a multibillion-dollar listing of its U.S. life arm looks like a step toward the exit by the French insurer even if it starts by selling only a minority stake.

Consumer Watchdog to Look Into Small Businesses' Access to Loans

The Consumer Financial Protection Bureau signaled it aims to play a larger role in overseeing the market for small-business lending, launching an inquiry into whether small companies have enough access to credit.

(END) Dow Jones Newswires

May 10, 2017 11:15 ET (15:15 GMT)