Latest Financial services News

Faced with possibly paying for news, Google removes links to California news sites for some users

Apr. 12, 2024 18:39 PM EDT

SACRAMENTO, Calif. (AP) — Google on Friday began removing California news websites from some people's search results, a test that acted as a threat should the state Legislature pass a law requiring the search giant to pay media companies for linking to their content. Google...

Hingham Savings: Q1 Earnings Snapshot

Apr. 12, 2024 16:21 PM EDT

HINGHAM, Mass. (AP) — HINGHAM, Mass. (AP) — Hingham Institution for Savings (HIFS) on Friday reported net income of $6.9 million in its first quarter. The Hingham, Massachusetts-based bank said it had earnings of $3.13 per share. Earnings, adjusted for non-recurring gains, came...

JPMorgan Chase, Advanced Micro Devices fall; Progressive, State Street rise, 4/12/2024

Apr. 12, 2024 16:19 PM EDT

NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Friday: JPMorgan Chase & Co., down $12.64 to $182.79. The bank gave investors a lower-than-expected forecast for its annual net interest income. Newmont Corp., down 43...

Big banks warn of uncertain year ahead after mixed financial performances in the first quarter

Apr. 12, 2024 12:24 PM EDT

NEW YORK (AP) — Big banks warned of an “uncertain” year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere. JPMorgan reported a modest 6% rise in profits...

Ex-Fed chair Ben Bernanke finds 'significant shortcomings' in Bank of England's economic forecasting

Apr. 12, 2024 08:38 AM EDT

LONDON (AP) — A review of the Bank of England's economic forecasting that was published Friday and undertaken by Ben Bernanke, the former chair of the U.S. Federal Reserve, has found “significant shortcomings” that should be addressed to better inform future interest rate decisions. ...

Citigroup: Q1 Earnings Snapshot

Apr. 12, 2024 08:14 AM EDT

NEW YORK (AP) — NEW YORK (AP) — Citigroup Inc. (C) on Friday reported first-quarter earnings of $3.37 billion. The bank, based in New York, said it had earnings of $1.58 per share. The results beat Wall Street expectations. The average estimate of seven analysts...

Stock market today: Asia stocks are mostly lower after Wall St rebound led by Big Tech

Apr. 12, 2024 00:36 AM EDT

HONG KONG (AP) — Asia stocks were mostly lower on Friday after gains for Big Tech shares helped U.S. stock indexes claw back much of their slide from the day before. U.S. futures and oil prices were higher. In Tokyo, the Nikkei 225 index was up 0.4% at 39,609.60,...

As world's central banks wrestle with when to cut rates, Europe signals it's ready to move

Apr. 11, 2024 11:11 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank signalled Thursday it could cut interest rates at its next meeting in June, a big step as the rich world's central banks, including the U.S. Federal Reserve, wrestle with how soon declining inflation will let them lower credit costs for business...

European Central Bank leaves rates unchanged as world's central banks wrestle with when to cut

Apr. 11, 2024 08:18 AM EDT
FRANKFURT, Germany (AP) — European Central Bank leaves rates unchanged as world's central banks wrestle with when to cut.

Switzerland lays out new 'too big to fail' rules in wake of Credit Suisse banking turmoil last year

Apr. 10, 2024 14:15 PM EDT

GENEVA (AP) — The Swiss government Wednesday announced steps to bolster its “too big to fail” rules aimed at avoiding potentially disastrous fallout from banking sector turmoil after woes last year at Credit Suisse before it was taken over by rival UBS. Finance Minister Karin...