Latest Financial markets News

The Latest: PM May resigns, won't lead Britain out of EU

May. 24, 2019 6:34 PM EDT

LONDON (AP) — The Latest on Brexit and Britain's political crisis (all times local): 8:15 p.m. Theresa May has ended her failed three-year quest to lead Britain out of the European Union, announcing that she will step down as Conservative Party leader June 7 and triggering a contest to choose a new prime...

How major US stock indexes fared Friday

May. 24, 2019 5:14 PM EDT

Stocks closed higher on Wall Street Friday after modest gains erased some of the market's steep losses from a day earlier. The market ended a turbulent week of trading with its third straight weekly loss as investors continue to fret over the prospect of a prolonged trade war between the U.S. and China. U.S....

US stocks rebound, but S&P 500 ends with 3rd weekly loss

May. 24, 2019 5:07 PM EDT

Stocks on Wall Street notched modest gains Friday, erasing some of the market's steep losses from a day earlier. The upbeat finish to a turbulent week still left the market with its third straight weekly loss. Stocks swung between gains and losses all week as investors weighed the prospect of a prolonged trade...

Markets Right Now: Stocks rebound, led by banks

May. 24, 2019 4:12 PM EDT

NEW YORK (AP) — The latest on developments in financial markets (all times local): 4:00 p.m. Stocks are closing higher on Wall Street Friday, led by gains in financial companies, as the market rebounds from steep losses a day earlier. Intuit gained 6.7% after the maker of TurboTax reported quarterly...

CEOs get $800,000 pay raise, leaving workers further behind

May. 24, 2019 3:53 PM EDT

NEW YORK (AP) — Did you get a 7% raise last year? Congratulations, yours was in line with what CEOs at the biggest companies got. But for chief executives, that 7% was roughly $800,000. Pay for CEOs at S&P 500 companies rose to a median of $12 million last year, including salary, stock and other...

Pennsylvania accuses financial firms of bond price-fixing

May. 24, 2019 3:42 PM EDT

HARRISBURG, Pa. (AP) — Pennsylvania's treasury department is accusing about a dozen large financial firms of working together to illegally inflate the price of bonds issued by Fannie Mae and Freddie Mac over seven years. A federal court filing by Pennsylvania Treasurer Joe Torsella cites what his office...

Discovery's Zaslav, Disney's Iger among highest paid CEOs

May. 24, 2019 2:28 PM EDT

Here are the highest paid CEOs in the S&P 500 index for 2018, as calculated by The Associated Press and Equilar, an executive data firm. The AP's compensation study covered 340 executives at S&P 500 companies who have served at least two full consecutive fiscal years at their respective companies, which...

Lebanese Cabinet agrees on 2019 austerity budget

May. 24, 2019 1:15 PM EDT

BEIRUT (AP) — Lebanese Cabinet ministers wrapped up weeks of haggling, agreeing on a 2019 draft budget that aims to avert a financial crisis by cutting public spending and reduce a ballooning deficit. Critics say the proposed measures fail to introduce structural reforms needed to rescue the flagging...

Global stocks recover with focus on trade, Brexit

May. 24, 2019 7:32 AM EDT

TOKYO (AP) — Global stocks are rebounding following Thursday's sell-off, with markets hoping for an easing in the U.S.-China trade dispute and after British Prime Minister Theresa May said she plans to resign as of June 7. Investors appear to hope May's pending resignation could unblock the political...

Asia shares retreat on fears China-US trade row might spread

May. 24, 2019 12:15 AM EDT

TOKYO (AP) — Asian shares were mostly lower on Friday as worries that the standoff between the U.S. and China over trade might expand put investors in a selling mood. Japan's benchmark Nikkei 225 fell 0.5% to 21,053.95. Australia's S&P/ASX 200 lost 0.7% at 6,445.40. South Korea's Kospi dropped 0.9% to...