News Highlights: Top Financial Services News of the Day - Wednesday at 7 AM ET

Private Equity and Traditional Insurers Spar Over Risk Rules 
 

Over the past decade, insurance has become a cash cow for PE firms. The standoff over illiquid securities has become 'a proxy for private equity's entrance into the sector,' says one observer.

 
Companies Trim Debt, Faced With High Rates 
 

The current high interest rates have pushed up the cost of borrowing for most companies, forcing them to tackle their debts, analysts said.

 
BlackRock's Plan for Your Retirement: A 401(k) With a Monthly Check 
 

A small-but-growing number of companies are offering plans that promise employees a degree of predictability. The new target-date funds turn a portion of savings into payments for life.

 
Wanted: Megabank Chief Willing to Work for Half Pay 
 

HSBC, one of the world's largest banks, is looking for a new CEO to run its sprawling operations at a fraction of the pay of a U.S. bank boss.

 
Founder of Binance, World's Largest Crypto Firm, Sentenced to Four Months 
 

Changpeng Zhao's sentence was lighter than prosecutors had requested and the culmination of a multiyear U.S. investigation into crypto exchange Binance.

 
TD Bank Sets Aside $450 Million for Possible U.S. Anti-Money Laundering Penalties 
 

Canada's second-largest bank by market capitalization said the provision is related to talks with one U.S. regulator.

 
Fed to Signal It Has Stomach to Keep Rates High for Longer 
 

Firmer price and wage pressures could lead longer-term rates to rise as investors continue paring back expectations of cuts.

 
PayPal's stock is climbing after earnings show progress on a key number 
 

PayPal sported 4% growth in transaction-margin dollars, whereas it saw a decline on the metric in the fourth quarter.

 
'Empty Chair Feeling' to Pervade Berkshire Meeting Without Munger 
 

Warren Buffett is the company's chief executive and the more famous investor-but Charlie Munger, who died in November, held a special place in the hearts of Berkshire fans.

 
Office-Loan Defaults Near Historic Levels With Billions on the Line 
 

More than $38 billion of U.S. office buildings face loan defaults, foreclosures or other forms of distress, the highest amount since 2012.

(END) Dow Jones Newswires

May 01, 2024 07:15 ET (11:15 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.