Latest Financial services News
AP FACT CHECK: Trump’s false push on preexisting conditions
WASHINGTON (AP) — President Donald Trump is teasing the possibility of executive action to require health insurance companies to cover preexisting medical conditions, something that he says “has never been done before.” It’s been done before. People with such medical problems have...
Man pleads guilty to altering checks, trying to cash them
CONCORD, N.H. (AP) — A New Hampshire man has pleaded guilty in federal court to trying to cash stolen checks after picking a community mailroom lock, rummaging through packages, and leaving with some mail. Prosecutors said a video surveillance camera showed a man picking the lock in January and taking...
Fed official defends slow start to Main Street loan program
WASHINGTON (AP) — A top Federal Reserve official on Friday defended the central bank’s efforts to launch a Main Street lending program and said the small number of loans approved so far would likely expand by a significant amount in coming months, especially if the pandemic worsens. While the Fed...
Fed's Main Street pandemic support program off to slow start
WASHINGTON (AP) — The Federal Reserve says that its Main Street Lending Program designed to help small and medium-sized companies get through the pandemic has managed to make just eight loans in its first month of operations. In its first report on the program, the Fed said Thursday it had provided $76.9...
The Latest: Macron says France doesn’t want to run Lebanon
BEIRUT (AP) — The Latest on the explosion in Beirut (all times local): 9:15 p.m. French President Emmanuel Macron has denied that he's seeking to pull the strings in Lebanon and revive France’s colonial-era influence over a country reeling from a giant, deadly explosion. Macron was on a visit to...
Turkish currency hits all-time low amid market jitters
LONDON (AP) — Turkey’s currency dropped to an all-time low against the dollar on Thursday as the global recession created by the pandemic brings to the fore weaknesses in the country's economy. The Turkish lira fell to 7.307 against the dollar, past the previous low of 7.26 in May and is down about...
Bank of England says economy will take time to heal
LONDON (AP) — The Bank of England predicted Thursday that the economic downturn in the U.K. economy might be less severe than it thought at the start of the COVID-19 pandemic - even as it warned it would take a longer time to heal the scars. The central bank opened the door to providing more monetary...
Asian shares mixed as US talks on stimulus still stalled
Stocks were mixed in Asia on Thursday despite strong gains overnight on Wall Street, where the rally just kept on rolling. Investors are watching to see if lawmakers will come ahead with fresh stimulus for the U.S. economy. Tokyo's Nikkei 225 index shed 0.4% to 22,438.61 while the Shanghai Composite index gave...
Fed should address racial gaps in jobs, income, Dems propose
A group of congressional Democrats introduced legislation Wednesday that would require the Federal Reserve to pursue the elimination of racial disparities in jobs, wealth and income as one of its policy goals. The legislation would also require the Fed's chair, currently Jerome Powell, to report every six...
CVS posts strong 2Q, with virus delaying elective procedures
CVS Health reported surprisingly strong second-quarter earnings as people postponed elective medical procedures during the COVID-19 pandemic, and it raised its profit expectations for the year. The postponed procedures led to lower benefit costs for the company's Aetna insurance arm, a main reason net income...
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