News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Each Cigna Employee to Get Five Shares

Continue Reading Below

Cigna plans to give every employee five shares of stock, an unusual move that the company said was aimed at bolstering employee commitment as it moves ahead after the demise of its merger deal with Anthem.

GOP Lawmaker Drops Debit-Card Provision From Choice Act

The Republican author of a bill to roll back Obama-era financial regulations has agreed to remove a controversial provision concerning debit-card swipe fees that had divided GOP lawmakers and threatened to derail passage of the sweeping legislation next month.

CIBC Hauls In Stronger Profit

Canadian Imperial Bank of Commerce reported a stronger profit in its latest quarter as lowering its provision for credit losses helped its bottom line.

Continue Reading Below

Basel Committee Head Sees Deal On Bank Rules Soon

Global standard setters hope to agree soon on reforms for safer banking, said William Coen, head of the Basel Committee on Banking Supervision.

Tighter Global Banking Rules Tilt Against Europe's Lenders

Long battle over update to Basel capital rules is finishing closer to U.S. demands.

China Takes Aim at Moody's After Rating Downgrade

Moody's is facing a backlash in China against its decision to cut the country's credit rating, a move that has come just as foreign ratings firms are set to receive greater access than ever to the world's No.2 economy.

Toronto-Dominion Bank's Earnings Jump 22%

TD Bank said earnings for its latest quarter jumped 22%, boosted by volume growth in its Canadian retail business.

BlackRock, Vanguard Mull Pressuring Exxon to Disclose Climate Risks

Two of the world's largest asset managers are strongly considering a public rebuke to Exxon Mobil over climate change at the company's annual meeting next week.

Royal Bank of Canada's Earnings Rise

Royal Bank of Canada's sales and profit topped expectations in the first quarter, led by gains in fee-based businesses.

China's Titanic Debt: Downgrade Carries Warning About Growth

China's first downgrade by Moody's Investors Service since 1989 is a direct warning to Beijing that its growth model isn't working and an illustration of the disconnect between the view inside and outside China.

(END) Dow Jones Newswires

May 25, 2017 11:15 ET (15:15 GMT)