Latest Financial services News
SEC Chair Gary Gensler, who led US crackdown on cryptocurrencies, to step down
Securities and Exchange Commission Chair Gary Gensler, who was aggressive in his oversight of cryptocurrencies and other financial markets, will step down from his post on Jan. 20. Gensler pushed changes that he said protected investors, but the industry and many Republicans bristled...
Archegos hedge fund founder Bill Hwang gets 18 years in prison for massive fraud
NEW YORK (AP) — The founder of Archegos Capital Management, a hedge fund, was sentenced to 18 years in prison on Wednesday for securities and market manipulation fraud in a scheme that prosecutors said cost global investment banks billions of dollars. Bill Hwang was told the length...
Donor-advised fund assets top $250 billion, but report says gifts in and out of the funds are down
Total contributions to donor-advised funds dropped 21.7% in 2023, while grants made to charities from those funds declined 1.4%, according to a new report by the National Philanthropic Trust. The 2024 DAF Report looked at the DAF landscape using data for the 2023 fiscal year. While...
Which health insurance plan may be right for you?
Everyone likes a good deal, and health insurance bargains abound this time of year. But buyers should look beyond price when searching for a plan. Shoppers also should consider doctor networks and coverage limits to avoid getting stuck with big bills after care. ...
Higher energy bills push UK inflation to 6-month high in October
LONDON (AP) — Inflation in the U.K. rose sharply to a six-month high in October and back above the rate targeted by rate-setters at the Bank of England, official figures showed Wednesday, cementing market expectations that there will be no further cuts in borrowing costs this year. ...
What to know about Howard Lutnick, Trump's pick for commerce secretary
WASHINGTON (AP) — President-elect Donald Trump has chosen Howard Lutnick, head of brokerage and investment bank Cantor Fitzgerald and cryptocurrency enthusiast, as his nominee for commerce secretary. The nomination would put Lutnick in charge of a sprawling Cabinet agency that is...
Stock market today: Wall Street rises following last week's slide
NEW YORK (AP) — Most U.S. stocks ticked higher Monday to recover some of their sharp slide from last week. The S&P 500 rose 0.4% for its first gain in three days. The Dow Jones Industrial Average slipped 55 points, or 0.1%, and the Nasdaq composite gained 0.6%. ...
How major US stock indexes fared Monday, 11/18/2024
Most U.S. stocks ticked higher to recover some of their sharp slide from last week. The S&P 500 rose 0.4% Monday for its first gain in three days. The Dow Jones Industrial Average slipped 0.1%, and the Nasdaq composite gained 0.6%. CVS Health rallied after adding...
Trump's treasury pick could give an indication of what he plans to do about tariffs
WASHINGTON (AP) — President-elect Donald Trump’s decision on a treasury secretary is about far more than whose name will be printed on America’s money. The choice of how to fill his highest-profile outstanding Cabinet selection will be the clearest indication yet of how he...
UK plans to create pension megafunds with aim of unlocking $100 billion for investment
LONDON (AP) — British Treasury chief Rachel Reeves said Thursday the government planned to merge dozens of pension funds with the aim of unlocking tens of billions of pounds for investment and boosting the U.K.'s subpar economic growth. Reeves said in her speech to finance leaders...
