Latest Financial services News
Credit Suisse takeover hits heart of Swiss banking, identity
GENEVA (AP) — The UBS takeover of embattled rival Credit Suisse has shaken Switzerland’s self-image and dented its reputation as a global financial center, analysts say, warning that the country’s prosperity could grow too dependent on a single banking behemoth. The uncertain...
Stocks rally to cap a winning month, quarter for Wall Street
NEW YORK (AP) — Stocks rallied Friday to close out a winning March and first quarter of the year, feats that looked questionable just a couple weeks ago when Wall Street was tumbling in turmoil. The S&P 500 rose 1.4% to cap a 3.5% gain for the month. It also locked in a second...
Europe's inflation eases to 6.9% as energy falls but food up
LONDON (AP) — Inflation in the 20 countries that use the euro currency slowed to the lowest level in a year as energy prices dropped, but food costs were still on the rise, keeping pressure on the European Central Bank to hike interest rates further. Consumer prices in the...
CIM Commercial Trust: Q4 Earnings Snapshot
DALLAS (AP) — DALLAS (AP) — CIM Commercial Trust Corp. (CMCT) on Friday reported a key measure of profitability in its fourth quarter. The Dallas-based real estate investment trust said it had funds from operations of $8.7 million, or 11 cents per share, in the period. ...
China factory activity grows at slower pace in March
BEIJING (AP) — China’s factory activity grew at a slower pace in March but was stronger than expected following the end of anti-virus restrictions, a survey showed Friday. The monthly purchasing managers’ index issued by the China Federation of Logistics & Purchasing and...
Asian stocks follow Wall St up ahead of US inflation update
BEIJING (AP) — Asian stocks followed Wall Street higher Friday ahead of a United States inflation update traders hope might prompt the Federal Reserve to ease plans for more interest rate hikes. Shanghai, Tokyo, Hong Kong and Sydney advanced. Oil prices declined. ...
Wisconsin regents OK tuition increase proposal for 23-24
MADISON, Wis. (AP) — University of Wisconsin System students will have to pay hundreds of dollars more to attend classes next year under a plan system officials overwhelmingly approved Thursday. The Board of Regents voted during a meeting at UW-Stout to adopt system President Jay...
Biden calls to revive bank regulations that Trump weakened
WASHINGTON (AP) — Weeks after the failure of two banks, President Joe Biden called Thursday for independent regulatory agencies to impose tighter rules on the financial system, telling them that they can act under current law without additional steps taken by Congress. The...
Egypt raises interest rates to curb surging inflation
CAIRO (AP) — Egypt’s Central Bank said it raised interest rates on Thursday as the embattled Middle Eastern country continues to battle surging inflation and a depreciating currency. In an online statement, the bank’s monetary policy committee said the most basic lending rate,...
Gov't to start looking for bias in small business lending
NEW YORK (AP) — Banks will need to start reporting the demographics and income of small business loan applicants under new rules published by the Consumer Financial Protection Bureau on Thursday. It's a move that policymakers hope will lead to less discrimination and more...
