Latest Financial services News
Bank of England keeps main interest rate at 16-year high of 5.25% despite inflation fall
LONDON (AP) — The Bank of England on Thursday kept its main interest rate at a 16-year high of 5.25%, even though inflation has fallen to its target of 2%. In a statement, some policymakers on the bank’s nine-member Monetary Policy Committee voiced worries that some underlying...
Stock market today: Global stocks are mixed as central banks hold off on rate cuts
HONG KONG (AP) — European markets opened higher on Thursday after a mixed day of thin trading in Asia after U.S. markets were closed in observance of Juneteenth. In London, the FTSE 100 gained 0.2% to 8,218.75, as investors focused on a Bank of England policy rate decision due...
Swiss central bank cuts its main interest rate by 1/4 point, citing easing inflationary pressures
GENEVA (AP) — The Swiss National Bank said Thursday it has lowered its main policy rate by a quarter of a percentage point, citing a drop in “underlying inflationary pressure” despite an uptick in some costs like rents, tourism services and oil products. The central bank...
Apple kills off its buy now, pay later service barely a year after launch
NEW YORK (AP) — Apple is discontinuing its buy now, pay later service known as Apple Pay Later barely a year after its initial launch in the U.S., and will rely on companies who already dominate the industry like Affirm and Klarna. It's an acknowledgement from a company known for...
Akio Toyoda, grandson of Toyota founder, wins shareholders' approval to stay in leadership
TOKYO (AP) — Toyota shareholders voted Tuesday in support of all the company's proposals, including keeping Akio Toyoda, grandson of the Japanese automaker’s founder, as chairman on the board. Details on the vote tallies were not immediately available. But the company confirmed...
Autodesk, Walt Disney rise; AMC Networks, Dycom fall, Monday, 6/17/2024
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Monday: Autodesk Inc., up $14.64 to $240.51. Investor Starboard Value disclosed a $500 million stake and wants improvements at the company. Aaron's Company Inc., up $2.52 to...
China keeps lending rate unchanged as data show housing market is still struggling
BANGKOK (AP) — China's central bank kept a key lending rate unchanged on Monday, choosing not to loosen credit as data for May showed signs of persisting weakness in the world's No. 2 economy's manufacturing and real estate sectors. The central bank kept its rate for 1-year...
Fight for control of Yemen's banks between rebels, government threatens to further wreck economy
SANAA, Yemen (AP) — Yemen’s Houthi rebels and its internationally recognized government are locked in a fight for control of the country’s banks that experts warn is threatening to further wreck an economy already crippled by nearly a decade of war. The rivalry over the banks...
Nigeria bets on a new $2.25B World Bank loan to support reforms that have resulted in hardship
ABUJA, Nigeria (AP) — The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and support economic reforms that have contributed to the worst cost-of-living crisis in many years for Africa’s most populous country. The bank said in a statement late...
G7 leaders agree to lend Ukraine billions backed by Russia's frozen assets. Here's how it will work
WASHINGTON (AP) — Leaders of the Group of Seven wealthy democracies have agreed to engineer a $50 billion loan to help Ukraine in its fight for survival. Interest earned on profits from Russia’s frozen central bank assets would be used as collateral. Details of the deal were...
