Latest Financial services News
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. ...
Stock market today: Wall Street hangs near its records as it closes another winning week
NEW YORK (AP) — U.S. stocks are drifting near their records Friday as Wall Street heads for the finish of another winning week. The S&P 500 fell 0.1% in afternoon trading and remains on track for a fourth straight week of gains. The Dow Jones Industrial Average was up 45...
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...
Warren Buffett's Berkshire Hathaway reveals new $7 billion stake in Swiss insurer Chubb
OMAHA, Neb. (AP) — Warren Buffett's Berkshire Hathaway on Wednesday revealed a new $7 billion stake in fellow insurer Chubb. Berkshire disclosed the investment it has been building over the past nine months in a quarterly filing with the Securities and Exchange Commission....
University of California official says system has $32 billion in holdings targeted by protesters
SACRAMENTO, Calif. (AP) — Investments in weapons manufacturers and a wide array of other companies by the University of California targeted by students protesting the Israel-Hamas war represent $32 billion - or nearly one-fifth - of the system's overall assets, the system's chief investment...
Creative Media & Community Trust: Q1 Earnings Snapshot
DALLAS (AP) — DALLAS (AP) — Creative Media & Community Trust Corporation (CMCT) on Wednesday reported a loss in a key measure in its first quarter. The real estate investment trust, based in Dallas, said it had a funds from operations loss of $4.4 million, or 19 cents per...
Fed's Powell downplays potential for a rate hike despite higher price pressures
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell said Tuesday that the central bank is unlikely to raise its key interest rate in response to signs of stubborn inflation and underscored his view that price increases would soon start to cool again. Yet Powell, during a panel...
Hedge fund operators go on trial after multibillion-dollar Archegos collapse
NEW YORK (AP) — A fraud trial began Monday for the founder of a hedge fund that cost leading global investment banks and brokerages billions of dollars when it collapsed. A prosecutor portrayed Bill Hwang, the founder of Archegos Capital Management, as a greedy man hoping to become...
Roaring Kitty is back and so are meme stocks. GameStop and AMC surge like it's 2021
The man at the center of the pandemic meme stock craze appeared online for the first time in three years, sending the prices of the quirky and volatile shares sharply higher Monday. Keith Gill, better known as “Roaring Kitty,” posted an image Sunday on the social platform X of a...
American Healthcare REIT: Q1 Earnings Snapshot
IRVINE, Calif. (AP) — IRVINE, Calif. (AP) — American Healthcare REIT Inc. (AHR) on Monday reported a key measure of profitability in its first quarter. The results did not meet Wall Street expectations. The Irvine, California-based real estate investment trust said it had funds...
