Latest Financial services News

Asian stocks gain on reports Trump plans tariff delay

Dec. 11, 2019 12:37 AM EST

BEIJING (AP) — Asian stock markets were mostly higher Wednesday following reports President Donald Trump might delay a weekend tariff hike on Chinese goods. Benchmarks in Shanghai, Hong Kong and Southeast Asia rose while Tokyo declined. Investors had been counting on Trump to postpone Sunday's duty...

US Federal Reserve could signal no rate hike through 2020

Dec. 11, 2019 12:01 AM EST

WASHINGTON (AP) — The Federal Reserve is set to leave its benchmark interest rate unchanged Wednesday and will likely signal that it expects rates to remain low well into next year despite a robust job market. Many economists have said they think sluggish growth will even compel the Fed to cut rates at...

Buttigieg discloses ex-clients as fundraising swing begins

Dec. 10, 2019 10:48 PM EST

NEW YORK (AP) — Facing intense pressure to answer questions about his work in the private sector, Democratic presidential contender Pete Buttigieg on Tuesday disclosed a roster of former consulting clients that include a major health insurance provider, a nationwide electronics retailer, the U.S....

Justices seem to favor insurers' Obamacare claims for $12B

Dec. 10, 2019 12:19 PM EST

WASHINGTON (AP) — The Supreme Court appeared likely Tuesday to rule that insurance companies can collect $12 billion from the federal government to cover their losses in the early years of the health care law championed by President Barack Obama. Several justices indicated their agreement with arguments...

Europe's new central bank chief faces slow growth, dissent

Dec. 10, 2019 11:48 AM EST

FRANKFURT, Germany (AP) — Mario Draghi took over as head of the European Central Bank eight years ago amid market speculation that the euro currency union might break up. Christine Lagarde succeeds him with more breathing room - but facing serious challenges from a weak economy, policy differences among...

Global stocks sink ahead of US tariff deadline

Dec. 10, 2019 8:14 AM EST

BEIJING (AP) — Stock markets around the world fell sharply Tuesday as nervous investors watched a rapidly approaching deadline for more U.S. tariffs on Chinese imports. Markets also have their eyes on American and European interest rate decisions coming this week and the outcome of Britain's general...

Food delivery service Just Eat rejects new takeover offer

Dec. 10, 2019 6:47 AM EST

LONDON (AP) — Food delivery company Just Eat rejected a sweetened takeover bid from investment firm Prosus on Tuesday, saying that the 5 billion pound ($6.6 billion) offer still “significantly undervalues” the company. Prosus N.V., which is owned by the wealthy South African investment group...

How major US stock indexes fared Monday

Dec. 9, 2019 5:03 PM EST

Technology, health care and financial companies drove stocks modestly lower on Wall Street Monday, snapping the S&P 500’s three-day winning streak. The market pullback came as investors looked ahead to a busy week of economic reports and an interest rate policy update from the Federal Reserve. The...

Fed is likely to reinforce a message of continued low rates

Dec. 9, 2019 2:42 PM EST

WASHINGTON (AP) — The Federal Reserve is expected to send a clear message when its latest policy meeting ends Wednesday: Interest rates will likely stay ultra-low for the foreseeable future. Behind that message is a view that has gained support at the Fed as the U.S. economic expansion has entered a record...

Ex-Fed Chair Volcker dies, tamed inflation with recession

Dec. 9, 2019 12:49 PM EST

Paul Volcker, who as Federal Reserve chairman in the early 1980s elevated interest rates to historic highs and triggered a recession as the price of quashing double-digit inflation, has died, according to his office. He was 92. Volcker took charge of the Fed in August 1979, when the U.S. economy was in the grip...