WASHINGTON (AP) — President-elect Joe Biden has chosen Rohit Chopra to be the director of the Consumer Financial Protection Bureau, tapping a progressive ally of Sen. Elizabeth Warren to helm the agency whose creation she championed. Chopra, now a commissioner at the Federal Trade Commission, helped launch...
FRANKFURT, Germany (AP) — German prosecutors have set aside a securities-law case against the former CEO of Volkswagen because he could face heavier penalties in a separate criminal fraud case connected to the company's 2015 diesel emissions scandal. The court in the city of Braunschweig said in a...
Asian shares were mixed Wednesday after a lackluster day on Wall Street, as the boost from President Donald Trump’s signing of the coronavirus relief package faded. Benchmarks fell in Tokyo and Sydney but rose in Hong Kong, Seoul and Shanghai. The S&P 500 lost 0.2% on Tuesday, a day after major...
BEIJING (AP) — Chinese regulators on Thursday announced an anti-monopoly investigation of e-commerce giant Alibaba Group, stepping up the ruling Communist Party’s efforts to control fast-growing tech industries. President Xi Jinping’s government worries about the dominance of competitors such...
Asian shares were mostly higher on Thursday after stocks eked out small gains on Wall Street following a mixed set of reports on the economy. Benchmarks rose in Tokyo, Hong Kong and Sydney. Stocks fell in Shanghai after China’s market regulator said it has launched an anti-monopoly investigation of...
WASHINGTON (AP) — The Federal Reserve said Friday that the 33 largest U.S. banks are in strong shape despite the pandemic’s economic shock. The banks have ample capital cushions girding them against unexpected losses and that will also enable them to keep lending even under the most severe straits,...
Robinhood Financial agreed to pay $65 million to settle government charges that it failed to disclose the full details of its dealings with high-speed traders and didn't get the best prices for customers trading on its app, the Securities and Exchange Commission said Thursday. Robinhood and other retail...
Shares were mostly higher in Asia on Thursday, buoyed by hopes the U.S. Congress may finally deliver fresh aid to help American businesses and families weather the pandemic. Benchmarks rose in Tokyo, Hong Kong and Shanghai but fell in South Korea. Overnight, the S&P 500 edged close to a record after the...
Regulators in Massachusetts claim Robinhood Financial targets and manipulates inexperienced investors and has failed to prevent costly outages on its popular stock trading platform. In an administrative complaint filed Wednesday by Secretary of the Commonwealth William Galvin, the state alleges that Robinhood...
Asian shares sank on Tuesday after a lackluster day on Wall Street as investors wait to see if Congress can break a logjam on delivering more aid to people, businesses and local governments affected by the coronavirus pandemic. Japan’s benchmark Nikkei 225 index fell after Prime Minister Yoshihide Suga...