Latest Financial services News
What comes next for Ohio's teacher pension fund? Prospects of a 'hostile takeover' are being probed
COLUMBUS, Ohio (AP) — A battle is under way for the future of Ohio’s $94 billion teacher pension fund, as would-be reformers’ attempts to deliver long-promised benefits to retirees with the help of an aggressive investment firm touting an untested AI-driven trading strategy face intense...
Lexinfintech: Q1 Earnings Snapshot
SHENZHEN, China (AP) — SHENZHEN, China (AP) — Lexinfintech Holdings Ltd (LX) on Thursday reported earnings of $27.9 million in its first quarter. The Shenzhen, China-based company said it had net income of 17 cents per share. The online consumer finance company...
Long-term mortgage rates ease for third straight week, dipping to just below 7%
LOS ANGELES (AP) — The average rate on a 30-year mortgage dipped this week to just below 7% for the first time since mid April, a modest boost for home shoppers navigating a housing market dampened by rising prices and relatively few available properties. The rate fell to 6.94%...
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets
FRANKFURT, Germany (AP) — Ukraine's allies are wrestling with how to squeeze money out of frozen Russian assets to support Kyiv's war effort, a debate getting more urgent as Russia gains territory on the battlefield and as the outlook for Ukraine’s state finances looks shakier. ...
Toronto-Dominion: Fiscal Q2 Earnings Snapshot
TORONTO (AP) — TORONTO (AP) — The Toronto-Dominion Bank (TD) on Thursday reported fiscal second-quarter net income of $1.89 billion. The Toronto-based bank said it had earnings of 99 cents per share. Earnings, adjusted for one-time gains and costs, came to $1.50 per share. ...
Abrupt shutdown of financial middleman Synapse has frozen thousands of Americans' deposits
NEW YORK (AP) — The bank accounts of tens of thousands of U.S. businesses and consumers have been frozen in the aftermath of the abrupt shutdown and bankruptcy of financial technology company Synapse, which acts as a middleman between financial technology companies and banks. ...
Private investment firms partner to potentially cash in following sweeping changes in college sports
TAMPA, Fla. (AP) — With college sports on the verge of sweeping change that could have long-term financial implications, two private investment firms have created a platform to help athletic departments find funding. RedBird Capital and Weatherford Capital announced Wednesday the...
Stock market today: Dow finishes above 40,000 to cap Wall Street’s latest winning week
NEW YORK (AP) — The Dow Jones Industrial Average finished a day above the 40,000 level for the first time on Friday as U.S. stock indexes drifted around their records while closing out their latest winning week. The Dow rose 134.21 points, or 0.3%, to 40,003.59, a day after briefly...
Vindicated by Supreme Court, CFPB director says bureau will add staff, consider new rules on banks
NEW YORK (AP) — Since its creation roughly 14 years ago, the Consumer Financial Protection Bureau has faced lawsuits and political and legal challenges to the idea of whether the Federal Government's aggressive consumer financial watchdog agency should be allowed exist at all. ...
China rolls out new measures to fix its property crisis, spur growth
China announced a slate of fresh measures Friday to reinvigorate its ailing property industry after the latest data showed housing prices have slumped nearly 10% since the start of the year. Among other things, the central bank said it would reduce the minimum down payment for...
