Latest Banking and credit News

Stocks lower as inflation, retail sales data disappoints

Jun. 15, 2021 11:51 AM EDT

Stocks were moderately lower in midday trading Tuesday as investors reacted negatively to a report that once again showed inflation creeping higher as well as data that showed Americans slowed their spending last month. The S&P 500 was down 0.3% as of 11:42 a.m....

Iran presidential candidate urges better ties with West

Jun. 15, 2021 08:47 AM EDT

TEHRAN, Iran (AP) — A prominent contender in Iran’s presidential election appealed Tuesday for better economic and political relations with the West, his most extensive attempt yet to attract reformist voters just days ahead of the poll. Former Iranian Central Bank...

Gains for some tech giants nudge S&P to another record high

Jun. 14, 2021 17:51 PM EDT

Technology companies helped lift stocks higher on Wall Street, nudging the S&P 500 to its third straight all-time high, even as other parts of the market faltered. A burst of buying in the final 10 minutes of trading sent the benchmark index 0.2% higher. The S&P...

Delicate task for Fed: When to pull back on low-rate support

Jun. 14, 2021 13:23 PM EDT

WASHINGTON (AP) — With inflation rising in a fast-rebounding economy, the Federal Reserve is poised this week to discuss when it will take its first steps toward dialing back its ultra-low interest rate policies. It will be a fraught discussion, one likely to occur over...

This Week: Retail sales, Fed policy update, Kroger earns

Jun. 14, 2021 01:15 AM EDT

A look at some of the key business events and economic indicators upcoming this week: SIZING UP RETAIL SALES The Commerce Department issues its May tally of U.S. retail sales Tuesday. Economists predict sales fell a seasonally...

Stocks notch modest gains and a 3rd winning week for S&P 500

Jun. 11, 2021 17:07 PM EDT

Wall Street closed out a mostly listless week Friday with a wobbly day of trading that helped nudge the S&P 500 to its third straight weekly gain. The benchmark index edged up 0.2% after spending much of the day in the red. The small uptick was enough to lift the...

Georgia tractor dealer pleads guilty to $6.4M bank fraud

Jun. 11, 2021 16:19 PM EDT

MACON, Ga. (AP) — The owner of a south Georgia tractor company has pleaded guilty to lying about his debts, assets and income to obtain loans from banks and financial institutions. Nashville Tractor owner Rickey Carter, 60, pleaded guilty Tuesday in federal court in...

Asian shares mixed after US inflation jumps 5% in May

Jun. 11, 2021 00:49 AM EDT

BANGKOK (AP) — Shares were mostly higher in Asia on Friday after the S&P 500 index notched another record high despite a surge in U.S. consumer prices in May. Shanghai fell, Tokyo was flat, while shares rose in Hong Kong, Seoul and Sydney. On...

Leak of billionaires' tax data draws GOP outcry over privacy

Jun. 10, 2021 17:12 PM EDT

WASHINGTON (AP) — Republicans in Congress are alarmed by the leak of confidential IRS data to the investigative news organization ProPublica, enabling it to reveal that famous billionaires including Warren Buffett, Bill Gates and Mark Zuckerberg paid little in U.S. income tax at times. A...

Europe leaves stimulus running hot ahead of recovery

Jun. 10, 2021 11:14 AM EDT

FRANKFURT, Germany (AP) — The European Central Bank left its key pandemic support for the economy running full blast even as the economy shows signs of recovery thanks to lower virus cases and fewer restrictions on activity in the 19 countries that use the euro currency. ...