Latest Financial services News

Apple kills off its buy now, pay later service service barely a year after launch

Jun. 18, 2024 10:45 AM EDT

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

Jun. 17, 2024 23:38 PM EDT

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

Jun. 17, 2024 16:22 PM EDT

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

Jun. 17, 2024 06:14 AM EDT

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

Jun. 16, 2024 09:58 AM EDT

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

Jun. 14, 2024 19:08 PM EDT

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

Jun. 14, 2024 15:46 PM EDT

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...

Mortgage rates ease for second straight week, leaving average rate on a 30-year home loan at 6.95%

Jun. 13, 2024 15:24 PM EDT

LOS ANGELES (AP) — Mortgage rates eased again this week, though the latest pullback leaves the average rate on a 30-year home loan at close to 7%, where it's been much of this year. The rate fell to 6.95% from 6.99% last week, mortgage buyer Freddie Mac said Thursday. A year ago,...

Southwest Airlines CEO says he won't resign. A hedge fund is trying to get him fired

Jun. 12, 2024 15:23 PM EDT

DALLAS (AP) — The CEO of Southwest Airlines said Wednesday he will not resign in the face of pressure from a hedge fund that wants him fired and that his leadership team will produce its own plan to boost the airline's financial performance. CEO Robert Jordan said Southwest will...

Apple Pay will have more payment options this fall and will also welcome Windows, Chrome users

Jun. 11, 2024 12:14 PM EDT

NEW YORK (AP) — Apple Inc. plans to add several new features to Apple Pay and Apple Wallet later this year that will more deeply integrate financing, rewards, and buy now, pay later options into the iPhone. The new features are part of Apple's annual iOS update that will arrive in...