News Highlights: Top Financial Services News of the Day
Ambac Removes Obstacle to Proposed Debt Swap
Ambac Assurance Corp. bought peace with hedge funds that were suspicious of a $5 billion restructuring proposal, moving the bond insurer a step closer to digging out from losses from the U.S. housing crash.
U.S. Grants Banks Waivers to Manage Retirement Plans
Five global banks can continue managing corporate retirement plans in the wake of recent guilty pleas to criminal charges, under new waivers announced by the Trump administration.
Chinese Court Seizes Assets of LeEco Founder
As authorities order embattled tech entrepreneur Jia Yueting back to China to handle his growing financial problems, a local court has seized his assets.
It's the Moment Insurers Have Waited For: Time to Raise Prices
One of the costliest years for natural disasters puts some U.S. insurers in a position to do what they haven't done in years: raise prices.
JPMorgan to Pay $2.8 Million for Failing to Segregate Customer Funds
JPMorgan Chase & Co. agreed to pay $2.8 million to settle charges brought by Wall Street's self-regulator that the bank failed for years to adequately separate customer securities from the firm's own assets.
1MDB Makes Final Payment to Abu Dhabi Fund
The Malaysian state-investment fund said it has paid all that is required to be paid to Abu Dhabi's IPIC, its former business partner, by December.
Emerging Markets: Growing in Maturity?
The MSCI Emerging Markets stock index is turning 30. Huge political shifts and globalization have changed the face of the index over time.
China's Central Bank Ramps Up Oversight of Payment Services
The People's Bank of China is stepping up scrutiny of the third-party payments industry, as part of its effort to curb financial risk.
Shell, Barclays Detail Billions in Tax-Linked Charges
Royal Dutch Shell and Barclays Bank said they would take large charges attributable to the U.S. tax overhaul-joining a parade of global firms in recent days disclosing how American tax-bill changes will affect their bottom line.
Yield-Starved Investors Giving In to the Demands of Loan Sellers
Rampant demand for leveraged loans is allowing private-equity firms to water down legal safeguards for investors. Many worry that such changes could result in higher losses for investors during the next downturn.
(END) Dow Jones Newswires
December 29, 2017 00:15 ET (05:15 GMT)Copyright (c) 2017 Dow Jones & Company, Inc.