Latest Banking and credit News

APNewsBreak: Ivanka Trump says she passed on World Bank job

Apr. 17, 2019 11:15 PM EDT

ABIDJIAN, Ivory Coast (AP) — White House senior adviser Ivanka Trump says her father asked her if she was interested in the job of World Bank chief but she passed on it. In an Associated Press interview, President Donald Trump's daughter said Wednesday she was happy with her current role in the...

The Latest: US sanctions on Venezuelan bank aimed at Maduro

Apr. 17, 2019 3:29 PM EDT

WASHINGTON (AP) — The Latest on the Trump administration's position on Cuba (all times local): 2:15 p.m. The U.S. says it's imposing sanctions on the Central Bank of Venezuela. The Trump administration says the bank has been instrumental in propping up the government of Venezuela's president, Nicolas...

Fed sees moderate growth but problems in trade and floods

Apr. 17, 2019 2:46 PM EDT

WASHINGTON (AP) — The Federal Reserve said Wednesday the economy was expanding at a moderate pace in March and early April, despite uncertainty caused by trade tensions and severe flooding in the Midwest. In its latest report on economic conditions around the country, the Fed said that some districts...

World stocks rise on hopes for growth; focus on earnings

Apr. 16, 2019 6:49 AM EDT

TOKYO (AP) — World stock markets advanced Tuesday on upbeat economic data for China and Germany and as investors keep an eye on U.S. corporate earnings reports, which have been mixed so far. Germany's DAX rose 0.6% to 12,097 after a measure of investor confidence, the ZEW index, rose for a sixth month. The...

Asian shares mixed after lackluster Wall Street session

Apr. 15, 2019 11:02 PM EDT

TOKYO (AP) — Shares were mixed Tuesday in Asia in mostly narrow trading in the absence of any major market-driving news. The Nikkei 225 index added 0.2% to 22,208.70. China's Shanghai Composite index lost 0.6% to 3,158.76 and the Hang Seng index in Hong Kong lost 0.3% to 29,736.05. South Korea's Kospi gave...

Mnuchin says Fed independence is important globally

Apr. 15, 2019 4:57 PM EDT

WASHINGTON (AP) — Treasury Secretary Steven Mnuchin said Monday that the Federal Reserve's independence is important globally, while refusing to comment on President Donald Trump's latest attack on the Fed. Mnuchin was asked about Trump's tweet Sunday that if the Fed had done its job properly, the stock...

Greece looks to repay IMF early as bond yields tumble

Apr. 15, 2019 3:44 PM EDT

ATHENS, Greece (AP) — The Greek government on Monday said it is in talks with European bailout lenders to repay its debts to the International Monetary Fund early as market borrowing rates have tumbled to their lowest level since 2005. And Prime Minister Alexis Tsipras said he was determined to spare...

Goldman profits fall 21% from year ago, hurt by trading

Apr. 15, 2019 9:08 AM EDT

NEW YORK (AP) — Goldman Sachs said its first quarter earnings fell by 21% from a year earlier, hurt by a slowdown in trading. The investment bank earned a profit of $2.25 billion, or $5.71 a share, down from a profit of $2.83 billion, or $6.95 a share, in the same period a year earlier. The results did...

Citigroup's 1Q profits rise 2%, beating forecasts

Apr. 15, 2019 9:05 AM EDT

NEW YORK (AP) — Banking conglomerate Citigroup said its first quarter profits rose by a relatively quiet 2% from a year earlier, as higher interest and investment banking revenues helped offset a decline in trading. Citi's results were similar to those of its Wall Street competitors, JPMorgan Chase and...

Former Malaysian leader's corruption trial enters second day

Apr. 15, 2019 6:21 AM EDT

KUALA LUMPUR, Malaysia (AP) — The corruption trial of Malaysia's former Prime Minister Najib Razak entered a second day Monday, with a central bank investigator taking the stand in the case involving the transfer of suspicious money into Najib's bank accounts. One of few Southeast Asian leaders to be...