News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

H&R Block CEO Bill Cobb to Retire

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Tax preparer H&R Block Inc. said Tuesday that Chief Executive Bill Cobb will retire July 31 and Chief Administrative Officer Tom Gerke will serve as his replacement on an interim basis.

Symphony Raises $63 Million From BNP Paribas, Others

Symphony Communication Services LLC, the instant-messaging software company, said it raised $63 million in additional funding from France's BNP Paribas SA as well as its existing investors.

LendingClub Taps PayPal Executive as President

LendingClub is poaching the head of PayPal's credit business to help the online lender push into new groups of borrowers and loan products.

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Singapore's Sovereign Wealth Fund to Cut Stake in UBS

GIC Pte. Ltd. is halving its stake in Swiss banking giant UBS Group AG, crystallizing a multibillion-dollar loss on an investment that was ill-fated from the start.

Hackers Face Tough Task Converting Bitcoin Ransom Into Cash

The hackers behind the massive WannaCry cyberattack have succeeded in extracting some ransom payments from people locked out of their computers. But they don't yet have dollars to show for it.

Latest Ransomware Attack Could Help Cyberinsurance Go Global

Last week's global cyberattack in more than 150 countries could be a wake-up call for companies that haven't bought cyberinsurance, Fitch Ratings says.

China Pumps $24.7 Billion Into Financial System

China's central bank made its biggest one-day cash injection into the country's fragile financial markets in nearly four months, a sign that Beijing is trying to mitigate the damage to investor confidence from its campaign to tamp down speculation fueled by excessive borrowing.

Dealpolitik: Social Studies - Lesson From Anthem-Cigna Meltdown

Other than price, there may be no issue more important to resolve before a deal is announced than precisely how senior managers will work together when the transaction closes.

AIG's New CEO Says He Won't Break Up the Company

American International Group Inc.'s new chief executive Brian Duperreault on Monday promised not to break up the insurance conglomerate.

AllianceBernstein Is Selling Bond-Trading Software

AllianceBernstein Holding LP agreed to sell its bond-trading software platform to trading technology firm Algomi Ltd.

(END) Dow Jones Newswires

May 16, 2017 11:15 ET (15:15 GMT)