News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Wells Fargo Probes Client Handling at Chicago Wealth Branch

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Wells Fargo is investigating whether three senior executives in Chicago inappropriately steered business toward certain individuals in its private-banking unit.

Deutsche Bank's Big Shareholder Heavily Financed Its New Stake

Deutsche Bank's new biggest shareholder, Chinese conglomerate HNA Group, used more than $2.8 billion in financing to help buy its nearly 10% stake in the German lender and protect itself against potential losses on the position.

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.

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U.S. Runs $182 Billion Budget Surplus in April

The U.S. ran a budget surplus in April, masking broader trends toward a growing deficit.

Barclays Chair Backs Embattled Staley Over Whistleblowing Probe

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.

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 Secretive Firm Set to Expand in Retail Options: Two Sigma Securities

As the high-speed trading industry endures a wrenching period of consolidation, Two Sigma Securities is looking to come out on top with its deal to buy the global options business of Interactive Brokers Group.

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 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.

GAO Reviews Regulatory Scrutiny of Risks in Some Lending

The Government Accountability Office is reviewing how bank regulators are monitoring heightened risks in the growing concentration of real estate and auto lending, a top official said.

(END) Dow Jones Newswires

May 10, 2017 16:15 ET (20:15 GMT)