Latest Financial services News
BlackRock buying credit investment manager HPS Investment Partners in approximately $12 billion deal
BlackRock is buying credit investment manager HPS Investment Partners in a stock deal valued at about $12 billion, giving it more ways to service its insurance clients. BlackRock said Tuesday that the transaction includes equity issued by a subsidiary, and that the equity can be...
Head of Ohio's teacher pension fund retires Sunday, saying fund is strong despite staff vacancies
COLUMBUS, Ohio (AP) — The outgoing head of Ohio's troubled teachers retirement system said that she is leaving the fund in strong fiscal condition, despite the turmoil at the top that her successor will inherit. In a recent interview with The Associated Press, Acting Executive...
The ruble's in a slump. For the Kremlin, that's a two-edged sword
Russia's ruble is sagging against other currencies, complicating the Kremlin's efforts to keep consumer inflation under control with one hand even as it overheats the economy with spending on the war against Ukraine with the other. The official central bank rate for Friday was set at...
Inflation rose to 2.3% in Europe. That won't stop the central bank from cutting interest rates
FRANKFURT, Germany (AP) — Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as the prospect of new U.S. tariffs from the incoming Trump administration adds to the gloom over weak growth....
South Korea's central bank cuts key interest rate to nurse a slower economy
SEOUL, South Korea (AP) — South Korea’s central bank lowered its key policy rate for a second straight month and said the country’s economy will grow at a slower pace than it initially anticipated. Following a policy meeting, the Bank of Korea cut its benchmark interest rate by...
Stock market today: Losses for Big Tech pull US indexes lower
Technology stocks helped pull stocks lower on Wall Street Wednesday, handing the market its first loss in more than a week. The S&P 500 fell 0.4%, even though more stocks in the index notched gains than ended lower. The loss snapped a seven-day winning streak for the benchmark...
Federal agency raises the size of most single-family loans the government can guarantee to $806,500
The Federal Housing Finance Agency is increasing the size of home loans that the government can guarantee against default as it takes into account rising housing prices. Beginning next year, mortgage buyers Fannie Mae and Freddie Mac will be able to acquire loans of up to $806,500 on...
Warren Buffett gives away another $1.1B and plans for distributing his $147B fortune after his death
OMAHA, Neb. (AP) — Investor Warren Buffett renewed his Thanksgiving tradition of giving by handing out more than $1.1 billion of Berkshire Hathaway stock to four of his family's foundations Monday, and he offered new details about who will be handing out the rest of his fortune after his death. ...
How major US stock indexes fared Monday, 11/25/2024
Stocks closed higher on Wall Street, sending the Dow Jones Industrial Average to another all-time high. The Dow added 1% Monday to the record it set on Friday. The S&P 500 rose 0.3%, while the Nasdaq composite rose 0.3%. Treasury yields eased in the bond market after...
Trump raced to pick many Cabinet posts. He took more time to settle on a treasury secretary
WASHINGTON (AP) — President-elect Donald Trump launched a blitz of picks for his Cabinet, but he took his time before settling on billionaire investor Scott Bessent as his treasury secretary nominee. The Republican not only wanted someone who jibes with him, but an official who can...
