Latest Financial services News

How major US stock indexes fared Tuesday

Mar. 19, 2019 5:09 PM EDT

Banks led stocks mostly lower on Wall Street Tuesday as the market gave up an early gain. Utilities and industrial companies also took losses, outweighing gains in health care, technology and consumer products stocks. Investors were looking ahead to the Federal Reserve's next interest rate policy update...

US stocks give up an early rally, ending winning streak

Mar. 19, 2019 5:04 PM EDT

U.S. stock indexes closed mostly lower Tuesday after a late-afternoon splash of selling erased early gains, ending a weeklong rally. Banks accounted for much of the decline, along with utilities and industrial companies. Those losses offset gains in health care, technology and consumer products stocks. The...

3 things to watch for from the Federal Reserve on Wednesday

Mar. 19, 2019 11:11 AM EDT

WASHINGTON (AP) — The Federal Reserve is considered sure to leave its key short-term interest rate unchanged Wednesday and to stress its new watchword — "patient"— in conveying its intention to leave rates alone for the foreseeable future. The Fed has made clear that with a dimmer economic...

Global markets recover as focus turns towards Fed decision

Mar. 19, 2019 8:49 AM EDT

LONDON (AP) — Global stock markets recovered their poise Tuesday after a lackluster session in Asia as investors digested the latest bout of Brexit uncertainty and prepared for a key U.S. Federal Reserve meeting. In Europe, France's CAC 40 rose 0.5 percent to 5,440, while Germany's DAX climbed 1 percent to...

Asian shares mixed in muted trading ahead of US Fed meeting

Mar. 18, 2019 11:55 PM EDT

TOKYO (AP) — Asian shares were mixed in muted trading Tuesday as investors awaited the U.S. Federal Reserve meeting later in the week. Japan's benchmark Nikkei 225 lost 0.3 percent to 21,528.23 in early trading. Australia's S&P/ASX 200 edged down 0.1 percent to 6,182.10. South Korea's Kospi inched down...

IMF staff concludes third review of Argentina program

Mar. 18, 2019 3:21 PM EDT

WASHINGTON (AP) — An International Monetary Fund mission and Argentine authorities have reached an agreement on the third review of a $56 billion IMF-supported program. If the IMF executive board approves the review in the coming weeks, Argentina would have access to $11 billion, bringing the total amount...

Fed set to signal no expectation of rate hikes anytime soon

Mar. 18, 2019 12:26 PM EDT

WASHINGTON (AP) — Patience. A focus on incoming economic data. And no interest rate hikes likely soon. The message the Federal Reserve is poised to send when its latest policy meeting ends this week is a soothing one. It reflects an abrupt shift in tone since the start of the year in the face of a slowdown...

Germany's Deutsche Bank, Commerzbank to hold talks on merger

Mar. 17, 2019 1:03 PM EDT

BERLIN (AP) — Deutsche Bank, Germany's biggest bank, and domestic rival Commerzbank have decided to open talks on a possible merger, the lenders said Sunday in an announcement that followed months of speculation about such a combination. Commerzbank said in a one-sentence statement that the banks "have...

Cyprus' finance minister to leave post by year's end

Mar. 15, 2019 12:51 PM EDT

NICOSIA, Cyprus (AP) — Cyprus' finance minister said Friday he'll leave the post he's held since 2013 by the end of the year, insisting that the findings of an inquiry that partly blamed him for the demise of one of the country's banks had no bearing on his decision. Georgiades said it was time for him to...

Correction: College Admissions-Bribery-The Latest story

Mar. 14, 2019 5:20 PM EDT

BOSTON (AP) — In a story March 13 about a college admissions bribery scandal, The Associated Press erroneously described a defendant's employer. The company where Manuel Henriquez worked is a venture capital firm, not a hedge fund. A corrected version of the story is below: The Latest: USC bars from...