Latest Financial services News

FILE - In this March 29, 2020, file photo, Connecticut Gov. Ned Lamont addresses the media at medical equipment manufacturer Bio-Med Devices in Guilford, Conn. On Thursday, July 2, 2020, Lamont announced a change to the required 14-day quarantine for visitors from states with high COVID-19 infection rates. He believes the quarantine announced the week before by Connecticut, New Jersey and New York has limited the number of Connecticut's out-of-state visitors. (Brian A. Pounds/Hearst Connecticut Media via AP, File)

Help wanted: Lamont turns to outside experts to fight virus

Jul. 5, 2020 12:19 PM EDT

HARTFORD, Conn. (AP) — Connecticut Gov. Ned Lamont, a businessman-turned-politician, mid-way into his first term, did what felt natural when he faced the prospect of large numbers of coronavirus infections spreading from neighboring New York into his state. The wealthy cable company founder leveraged his...

File---Picture taken June 24, 2020 shows the Wirecard logo at the headquarters of the payment service provider in Aschheim, Germany.  (Sven Hoppe/picture-alliance/dpa via AP, file)

Germany to revamp financial oversight after Wirecard scandal

Jul. 5, 2020 8:03 AM EDT

BERLIN (AP) — Germany's finance minister says he wants to revamp the oversight system for the country's financial industry in the wake of the accounting scandal at payment systems provider Wirecard. The Munich-based Wirecard filed for bankruptcy recently after auditors couldn’t find accounts in the...

Voters may see just 4 initiatives on November ballot

Jul. 3, 2020 7:21 PM EDT

PHOENIX (AP) — Arizona voters are likely to see four voter initiatives on their November ballot, although all four must first survive a review of qualifying signatures turned into the Secretary of State's office this week and legal challenges that routinely are made. The four that turned in their...

Ukraine's parliament accepts chief banker's resignation

Jul. 3, 2020 1:10 PM EDT

KYIV, Ukraine (AP) — Ukraine’s parliament on Friday accepted the resignation of the country’s top banker, who has stepped down citing political pressure. National Bank head Yakiv Smolii submitted his letter of resignation Wednesday, pointing at “systematic political pressure” as...

Minnesota banks, credit unions, offer COVID-19 mortgage help

Jul. 2, 2020 5:02 PM EDT

ST. PAUL, Minn. (AP) — State officials said Thursday that 31 Minnesota financial institutions have committed themselves to provide additional mortgage-relief options to homeowners facing financial hardship caused by the coronavirus pandemic who don't have federally backed mortgages. Under the framework...

FILE - In this March 12, 2020 file photo, Venezuelan President Nicolas Maduro speaks during a press conference at the Miraflores Presidential Palace in Caracas, Venezuela. A British judge on Thursday July 2, 2020, refused to give Venezuela control of over $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to the President Nicolas Maduro since Britain does not recognize him as the president. Maduro has demanded the gold to help his cash-starved nation fight the coronavirus pandemic. (AP Photo/Matias Delacroix, File)

British judge denies Maduro Venezuela's gold in London bank

Jul. 2, 2020 4:47 PM EDT

LONDON (AP) — A British judge on Thursday refused to give Venezuela's Nicolás Maduro control of nearly $2 billion in gold sitting in a Bank of England vault because Britain does not recognize the socialist leader as president of the Latin American nation. Maduro has demanded the gold to help his...

Wearing masks amid concerns of the spread of COVID-19, volunteers Karen Cooperstein, right, and Edwin Chinchilla, left, prepare food for the pubic during a drive through food pantry distribution by Catholic Charities in Dallas, Thursday, July 2, 2020. (AP Photo/LM Otero)

US unemployment falls to 11%, but new shutdowns are underway

Jul. 2, 2020 4:28 PM EDT

WASHINGTON (AP) — U.S. unemployment fell to 11.1% in June as the economy added a solid 4.8 million jobs, the government reported Thursday. But the job-market recovery may already be faltering because of a new round of closings and layoffs triggered by a resurgence of the coronavirus. While the jobless rate...

Ukraine's central banker chief steps down citing pressure

Jul. 2, 2020 10:56 AM EDT

KYIV, Ukraine (AP) — Ukraine's president on Thursday accepted the resignation of the country's top banker, who has complained of political pressure. National Bank head Yakiv Smolii cited “systematic political pressure” as the reason for his decision to step down, but didn't provide any...

FILE - In this May 22, 2020, file photo, the Federal Reserve building is viewed in Washington. Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic. The minutes of the June 9-10 discussions that were made public Wednesday, July 1, 2020, show officials grappling with economic disruptions that had already occurred. (AP Photo/Patrick Semansky, File)

Fed minutes show concerns about severity of downturn

Jul. 1, 2020 5:26 PM EDT

WASHINGTON (AP) — Federal Reserve officials last month expressed concerns about the severity of the economic downturn triggered by the coronavirus pandemic, saying the drop in economic activity in the spring would likely be the steepest in the post-World War II period. The minutes of the June 9-10...

Editorial Roundup: Pennsylvania

Jul. 1, 2020 5:00 PM EDT

Recent editorials of statewide and national interest from Pennsylvania’s newspapers: During fireworks season, we must obey law, use common sense and show courtesy The York Dispatch July 1 The Fourth of July holiday is looming. That means there will be fireworks — lots of fireworks. Some of those...