Latest Financial services News
China announces more support for economy but holds back on major spending package
HONG KONG (AP) — China’s economic planning agency outlined details of measures aimed at boosting the economy on Tuesday but refrained from major spending initiatives. The piecemeal nature of the plans announced Tuesday appeared to disappoint investors who were hoping for bolder...
Home insurers argue for a 42% average rate hike in North Carolina
RALEIGH, N.C. (AP) — With many western North Carolina residents still lacking power and running water from Hurricane Helene, a hearing began Monday on the insurance industry's request to raise homeowner premium rates statewide by more than 42% on average. A top lieutenant for...
FEMA has faced criticism and praise during Helene. Here's what it does — and doesn't do
WASHINGTON (AP) — The Federal Emergency Management Agency is tasked with helping states and communities hit by disasters like Hurricane Helene. With Helene hitting during the homestretch of an election year, the agency has been criticized by some residents and politicians, like...
Stock market today: Dow rallies to a record after a blockbuster jobs report
NEW YORK (AP) — U.S. stocks rallied Friday after a surprisingly strong report on the U.S. job market raised optimism about the economy. The S&P 500 climbed 0.9% and got close to its all-time high set on Monday. The Dow Jones Industrial Average rose 341 points, or 0.8%, to set...
Warren Buffett buys rest of Berkshire Hathaway's utilities, but investors must guess at the price
OMAHA, Neb. (AP) — Warren Buffett's Berkshire Hathaway is buying the rest of its utility unit from the estate of a longtime board member who died three years ago, but it's not clear exactly how much it will pay for that 8% stake in the massive utility business. Berkshire Hathaway...
Inflation in Europe falls below 2% and opens the way for faster rate cuts
FRANKFURT, Germany (AP) — Inflation in the 20 countries that use the euro fell to 1.8% in September, below the European Central Bank's target of 2% for the first time in more than three years as falling energy prices give consumers relief from a burst of inflation that at one point reached into...
Japan's central bank survey underpins optimism about growth
TOKYO (AP) — Business sentiment among Japan’s large manufacturers stood unchanged in the latest quarter from the previous quarter, according to a closely watched survey called “tankan” released Tuesday. The Bank of Japan survey put the benchmark index at plus-13 for the...
Medicare Advantage shopping season arrives with a dose of confusion and some political implications
Thinner benefits and coverage changes await many older Americans shopping for health insurance this fall. That’s if their plan is even still available in 2025. More than a million people will probably have to find new coverage as major insurers cut costs and pull back from markets...
Stock market today: Dow sets a record as Wall Street drifts to the finish of another winning week
NEW YORK (AP) — U.S. stocks closed another record-setting week with a muted performance Friday, as hope built on Wall Street that the U.S. economy can manage the rare feat of suppressing high inflation without causing a recession. The S&P 500 edged down by 0.1% from its...
China redoubles first-aid for its economy with support for banks and workers
China is redoubling its first-aid for its economy, targeting banks, workers and poor families as the ruling Communist Party prepares to mark the 75th anniversary of the founding of the People’s Republic. Unconfirmed reports Thursday by the South China Morning Post and Bloomberg...
