State Farm Halts Home-Insurance Sales in California

The move is a blow to the state's efforts to maintain a vibrant market for homeowners in the wildfire-prone state. 


 
Lazard Names Peter Orszag as Next CEO

The former Obama administration official is set to succeed Ken Jacobs, who will become executive chairman. 


 
Credit Suisse Loses Case Against Georgian Businessman in Singapore

A Singapore court has ordered a unit of Credit Suisse to compensate Georgian businessman Bidzina Ivanishvili for its failure in safeguarding the plaintiff's assets. 


 
U.S. Regulator Vows Tough Line on Problem Banks

Large U.S. banks found to have consistently poor risk management and other failings will face more heavy-handed government intervention, including demands to shore up capital or exit lines of business. 


 
Humm Told to Stop Adding New BNPL Customers by Australian Regulator

Australian credit provider said itcomplied with the order and is seeking to engage with the ASIC. 


 
Financial Services Roundup: Market Talk

Find insight on Toronto-Dominion Bank, moving to different parts of the country, Canadian Western Bank, and more in the latest Market Talks covering the Financial Services sector. 


 
Toronto-Dominion Bank Profit Falls as Provisions for Credit Losses Rise

Toronto-Dominion Bank reported on Thursday a drop in profit in its second quarter with revenue growth in line with analyst expectations, while provisions for credit losses continue to climb. 


 
Icahn Enterprises Stock Continues to Drop. Bill Ackman Weighs In.

A long-running feud between activist hedge fund managers Carl Icahn and Bill Ackman is revived as the latter tweets about the embattled shares of the former's investment vehicle. 


 
SEC Penalizes Private-Fund Manager Sciens for Compliance Failure

The penalty comes amid heightened focus by the regulator on how fund managers value their assets. 


 
Boston Fed chief Collins says interest-rate 'pause' may be close at hand

Boston Fed President Collins said signs of waning inflation suggest the central bank may be "at, or near, the point" where it can stop raising interest rates.


(END) Dow Jones Newswires

05-29-23 0015ET