Fed seems content with low rates but confronts challenges

WASHINGTON (AP) — For the first time in years, Federal Reserve officials will hold their latest policy meeting this week feeling broadly satisfied with where interest rates are and with seemingly no inclination to change them anytime soon. Chairman Jerome Powell has expressed a sense of gratification with...

This Week: Consumer confidence, Fed meeting, Amazon earns

A look at some of the key business events and economic indicators upcoming this week: EYE ON CONSUMERS Economists project that a barometer of U.S. consumer confidence rebounded after declining last month. They expect that the Conference Board's consumer confidence index rose to 128.4 this month, reflecting...

Stocks fall as fears about deadly virus grow; Dow drops 170

Health care companies led a broad slide in U.S. stocks Friday as increased fears over the spread of a deadly outbreak of coronavirus rattled markets. The S&P 500 had its worst day since early October and snapped a two-week winning streak. The sell-off followed news that a Chicago woman has become the second...

Veteran accuses bank of discrimination for not taking checks

LIVONIA, Mich. (AP) — A Detroit-area bank that suspected fraud and refused to cash $99,000 in checks from a black Air Force veteran said Thursday that it mishandled the incident and should not have called police. Sauntore Thomas attempted to deposit checks from the settlement of a discrimination lawsuit...

New York City Council votes to ban cashless businesses

NEW YORK (AP) — New York City lawmakers voted Thursday to require stores and restaurants to accept cash for payment, saying businesses that accept only credit and debit cards are discriminating against New Yorkers who lack bank accounts and credit cards. “This practice punishes the...

Former Wells Fargo CEO fined $17.5M for sales scandal

NEW YORK (AP) — Federal regulators have slapped former Wells Fargo Chief Executive John Stumpf with a $17.5 million fine for his role in the bank's sales practices scandal. Stumpf also accepted a lifetime ban from the banking industry. Along with its fine against Stumpf, the Office of the Comptroller of...

European Central Bank holds rates, launches policy review

FRANKFURT, Germany (AP) — The European Central Bank has decided to launch a top-to-bottom review of how it steers the economy in the 19 countries that use the euro currency. The review, the first since the global financial crisis, could include tweaking the bank's goal for inflation and finding ways to...

Why credit card rewards are targeting ‘convenience’ spending

If you’re spending a lot on convenience — whether in the form of grocery delivery, ride-hailing or meal delivery — your credit card wants to reward you for it, while encouraging you to spend more. Consider these recent offerings: — Chase announced in January that for a limited time,...

European Central Bank keeps interest rates, stimulus programs on hold, launches review of strategy

Canada justice dept. lawyer says Huawei exec committed fraud

VANCOUVER, British Columbia (AP) — A Canadian justice department lawyer said Wednesday that fraud, not sanctions, is the crucial element for a judge to consider when deciding if a senior executive of Chinese tech giant Huawei should be extradited to the United States. This week's hearings deal with the...