Latest Financial services News
Inflation eased in 2023. That's giving investors hope for a gentler Federal Reserve next year
NEW YORK (AP) — Inflation gradually loosened its grip on Wall Street and the economy in 2023, raising hopes for a gentler Federal Reserve and solid gains for the market next year. Stocks rallied to their best month of the year in November as investors raised their bets that the Fed...
CEOs of the nation's biggest banks warn that new regulations could harm the economy
NEW YORK (AP) — The heads of Wall Street's biggest banks used an appearance on Capitol Hill on Wednesday to plead with senators to stop the Biden administration's proposed changes to how banks are regulated, warning that the new proposals could negatively impact the economy at a time of...
America's Car-Mart, Designer Brands fall; CVS, Gitlab rise, Tuesday, 12/5/2023
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Tuesday: KeyCorp, down 50 cents to $12.94. Investors were disappointed by the regional bank's latest financial update. Comerica Inc., down $1.62 to $47.83. ...
Bitcoin has surpassed $41,000 for the first time since April 2022. What's behind the price surge?
NEW YORK (AP) — Bitcoin is once again having a moment. On Monday, the world's largest cryptocurrency soared past $41,000 for the first time in over a year and a half — and marking a 150% rise so far this year. Volatile bitcoin rocketed from just over $5,000 at the start of the...
Bank of Montreal: Fiscal Q4 Earnings Snapshot
TORONTO (AP) — TORONTO (AP) — Bank Of Montreal (BMO) on Friday reported fiscal fourth-quarter profit of $1.19 billion. The bank, based in Toronto, said it had earnings of $1.52 per share. Earnings, adjusted for non-recurring costs, were $2.07 per share. The results...
UK government intervenes in potential takeover of Telegraph newspaper by Abu Dhabi-backed fund
LONDON (AP) — Britain's government said Thursday it has asked media and market competition officials to investigate whether a potential Abu Dhabi-backed takeover of The Telegraph newspaper would impact press freedoms. Culture Secretary Lucy Frazer said she issued a “public...
Royal Bank: Fiscal Q4 Earnings Snapshot
TORONTO (AP) — TORONTO (AP) — Royal Bank Of Canada (RY) on Thursday reported fiscal fourth-quarter profit of $3.04 billion. The bank, based in Toronto, said it had earnings of $2.14 per share. Earnings, adjusted for non-recurring gains, were $2.05 per share. The...
Canadian Imperial Bank: Fiscal Q4 Earnings Snapshot
TORONTO (AP) — TORONTO (AP) — Canadian Imperial Bank of Commerce (CM) on Thursday reported fiscal fourth-quarter profit of $1.09 billion. The bank, based in Toronto, said it had earnings of $1.13 per share. Earnings, adjusted for non-recurring costs, were $1.16 per share. ...
Deutsche Bank was keen to land a 'whale' of a client in Trump, documents at his fraud trial show
NEW YORK (AP) — Deutsche Bank viewed Donald Trump as a “whale” of a client, was eager to land him and eagerly cultivated a relationship that grew from $13,000 worth of revenue to $6 million in two years, according to documents presented Wednesday at the former president's civil fraud trial. ...
Argentina's libertarian president-elect picks a former Central Bank chief as his economy minister
BUENOS AIRES, Argentina (AP) — Argentina’s president-elect, Javier Milei, announced Wednesday he has chosen Luis Caputo, a former finance minister and Central Bank chief known as an expert in markets, to lead the Economy Ministry when the right-wing leader takes office on Dec. 10. ...
