News Highlights: Top Financial Services News of the Day

Features Dow Jones Newswires

Wells Fargo to Sell Commercial Insurance Business to USI Insurance

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Wells Fargo said Tuesday it would sell its commercial insurance businesses to privately-held USI Insurance Services.

Anxious Investors Try to Hedge Against a Big Selloff, Even as Good Times Roll

Stock volatility is near an all-time low and corporate profits have bounced back from a year ago, but investors are increasingly moving to protect themselves from big swings in financial markets.

Blackstone Nearing Deal to Buy Japan's Croesus Retail

Private-equity firm Blackstone Group is nearing a deal to buy a Singapore-listed company that operates retail properties in Japan, which currently has a market capitalization of over US$500 million, people familiar with the process said Tuesday.

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Miranda Kerr Hands Over $8.1 Million in Jewelry to Justice Department

Australian model Miranda Kerr has signed over $8.1 million worth of jewelry to the U.S. Department of Justice a week after lawsuits described how they were purchased for her by Malaysian financier Jho Low with allegedly misappropriated funds, according to her spokesman

Senate Health Bill Raises Uninsured by 22 Million, the CBO Says

The Senate Republican health bill would leave 22 million more people uninsured in 2026 compared with current law and cut the federal deficit by $321 billion in the next decade, according to the Congressional Budget Office.

Jack Dorsey's Square Inc. May Soon Loan You Money

Square Inc., the technology company best known for processing payments for small merchants across the U.S., is now angling to lend to consumers, too.

Appeals Court Deadlocks Over Challenge to SEC's In-House Courts

A federal appeals court said Monday that it was deadlocked on a case involving the Securities and Exchange Commission's in-house justice system, an outcome that opens the door for the Supreme Court to resolve the dispute.

Citi Taps Former Senior J.P. Morgan Banker for Advisory Role

Citigroup has hired Karl-Georg Altenburg, a high-profile former J.P. Morgan Chase and Deutsche Bank investment banker as a senior adviser.

Ethereum Drops 24%, Bitcoin Loses, Too, Amid Cryptocurrency Selloff

Cryptocurrencies led by bitcoin and Ethereum were falling across the board on Monday as a massive run-up this spring has spurred some profit taking.

Nestlé Unmoved by Demands From Activist Investor Third Point

Newly minted Nestlé Chief Executive Mark Schneider is facing the first big challenge of his short career in packaged foods.

(END) Dow Jones Newswires

June 27, 2017 11:16 ET (15:16 GMT)