Latest Banking and credit News

Asian shares mostly higher, echoing Wall Street rebound

Aug. 15, 2022 23:12 PM EDT

TOKYO (AP) — Asian shares mostly rose Tuesday after a rebound on Wall Street, despite regional investor risks reflected in negative economic data out of China. The benchmark in Tokyo was little changed, erasing earlier gains, but indexes in South Korea, Australia and China gained...

How major US stock indexes fared Monday 8/15/2022

Aug. 15, 2022 16:42 PM EDT

Stocks recovered from early losses and ended higher on Wall Street. Investors remain focused on the economy and upcoming reports from retailers this week. The S&P 500 rose 0.4% Monday after stumbling in early trading. The Dow Jones Industrial Average and Nasdaq also extended last...

This Week: Walmart earns, Fed meeting minutes, US home sales

Aug. 15, 2022 03:12 AM EDT

A look at some of the key business events and economic indicators upcoming this week: SPOTLIGHT ON WALMART Wall Street expects another mixed quarterly report card from Walmart. Analysts predict the nation’s largest retailer will report on Tuesday that...

China cuts interest rate to shore up sagging economy

Aug. 15, 2022 01:37 AM EDT

BEIJING (AP) — China’s central bank trimmed a key interest rate Monday to shore up sagging economic growth at a politically sensitive time when President Xi Jinping is trying to extend his hold on power. The decision suggested Beijing is temporarily setting aside worries over...

Former Deutsche Bank Co-CEO Anshu Jain dies

Aug. 13, 2022 18:01 PM EDT

NEW YORK (AP) — Anshu Jain, a former co-CEO of Deutsche Bank, has died, his family said in a statement Saturday. He was 59. Jain died after a battle with duodenal cancer, which he was diagnosed with in 2017. Jain was Co-CEO of Deutsche Bank from 2012 to 2015, where...

Wall Street extends winning streak to 4th week

Aug. 12, 2022 17:00 PM EDT

Wall Street capped a choppy week of trading with a broad stock market rally Friday, as the S&P 500 notched its fourth consecutive weekly gain. The benchmark index closed 1.7% higher, for a 3.3% weekly gain. The S&P 500 hadn't posted such a good stretch since November. ...

Beirut bank standoff exposes desperation of economic crisis

Aug. 12, 2022 10:04 AM EDT

BEIRUT (AP) — A judge ordered a gunman who took up to 10 hostages at a Beirut bank to force the release of his trapped savings to stay behind bars Friday, apparently a bid to prevent copycats as desperation deepens over Lebanon's economic meltdown. A few dozen relatives of Bassam...

Asian shares mixed after new signs of cooling inflation

Aug. 12, 2022 00:47 AM EDT

BANGKOK (AP) — Shares were mixed Friday in Asia after a muddled day on Wall Street, where benchmarks meandered following another encouraging report about inflation. Tokyo’s Nikkei 225 surged 2.5%, catching up on gains after being closed Thursday for a holiday. Hong Kong and...

Mexico raises key interest rate to 8.5%, highest in 16 years

Aug. 11, 2022 17:18 PM EDT

MEXICO CITY (AP) — Mexico’s central bank has raised its interbank interest rate by 0.75% to 8.5% Thursday — the highest level in the 16 years since comparable bank policies went into effect. The Bank of Mexico cited continuing inflationary pressures, and predicted inflation...

How major US stock indexes fared Thursday 8/11/2022

Aug. 11, 2022 16:30 PM EDT

An afternoon pullback left stock indexes on Wall Street mixed Thursday, erasing most of their morning gains fueled by another encouraging report about inflation. The S&P 500 closed 0.1% lower. The Nasdaq also fell, while the Dow Jones Industrial Average rose slightly. Investors weighed new data...