Latest Financial services News

FILE - In this Dec. 13, 2019, file photo trader Sal Suarino works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Wednesday, Jan. 29, 2020. (AP Photo/Richard Drew, File)

Stocks give up early gains and end mixed on Wall Street

Jan. 29, 2020 4:15 PM EST

Stocks gave up early gains and ended mixed on Wall Street as strong showings by some tech companies were offset by losses elsewhere. Several companies including General Electric rose Wednesday after reporting solid earnings. Stocks lost momentum toward the end of the day as investors tuned in to a news conference...

FILE - In this Nov. 13, 2019, file photo Federal Reserve Board Chair Jerome Powell testifies on the economic outlook, on Capitol Hill in Washington. On Wednesday, Jan. 29, 2020, the Federal Reserve issues a statement and economic projections, followed by a news conference with Fed Chair Jerome Powell. (AP Photo/Jose Luis Magana, File)

Fed leaves key rate alone but sees virus among global risks

Jan. 29, 2020 4:03 PM EST

WASHINGTON (AP) — The Federal Reserve kept its key interest rate unchanged at a low level Wednesday amid an economy that looks solid but faces potential global threats, including from China’s viral outbreak. The Fed sketched a mostly bright picture of the U.S. economy in a statement it released...

FILE - In this Oct. 28, 2017, file photo the storefront window of a portrait studio is lit up along a downtown street at dusk in Lumberton, N.C. The Community Reinvestment Act has over past four decades spurred hundreds of billions of dollars in lending to low- and middle-income communities. Now, the Trump administration is proposing changes that some community advocates say will make it easier for banks to meet the law’s criteria without making the types of loans that are most beneficial to the communities they serve. (AP Photo/David Goldman, File)

Advocates: Crucial bank law softened under Trump proposal

Jan. 29, 2020 2:46 PM EST

WASHINGTON (AP) — The Trump administration is proposing changes to a decades-old law designed to keep banks from discriminating against the poor and disadvantaged, but critics argue the changes could make it easier for banks to potentially ignore the under-served, particularly communities of color. The...

FILE - In this Nov. 13, 2019, file photo Federal Reserve Board Chair Jerome Powell testifies on the economic outlook, on Capitol Hill in Washington. On Wednesday, Jan. 29, 2020, the Federal Reserve issues a statement and economic projections, followed by a news conference with Fed Chair Jerome Powell. (AP Photo/Jose Luis Magana, File)

Fed leaves key rate unchanged at low level amid global risks

Jan. 29, 2020 2:38 PM EST

WASHINGTON (AP) — The Federal Reserve kept its key interest rate unchanged at a low level Wednesday amid an economy that looks solid but faces potential global threats, including from China’s viral outbreak. The Fed sketched a mostly bright picture of the U.S. economy in the statement it released...

Text of the Fed's statement after its meeting Wednesday

Jan. 29, 2020 2:14 PM EST

WASHINGTON (AP) — Below is the statement the Fed released Wednesday after its policy meeting ended: Information received since the Federal Open Market Committee met in December indicates that the labor market remains strong and that economic activity has been rising at a moderate rate. Job gains have been...

FILE - In this May 14, 2019, file photo signage on the outside of the corporate headquarters building of health insurance company Anthem is shown in Indianapolis.  Anthem started the new year by forecasting earnings that could miss expectations even after the health insurer books gains from a new business. The Blue Cross-Blue Shield insurer expects earnings adjusted for one-time items to exceed $22.30 per share in 2020.    (AP Photo/Michael Conroy, File)

Insurer Anthem underwhelms Wall Street with 2020 forecast

Jan. 29, 2020 12:16 PM EST

Anthem is starting the new year by forecasting earnings that could miss expectations even after the health insurer books gains from a new business. The Blue Cross-Blue Shield insurer also reported on Wednesday earnings from the final quarter of 2019 that missed forecasts, and its stock dropped in midday trading....

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Jan. 29, 2020. Shares are mostly higher in Asia after a rebound on Wall Street that reversed most losses from a sell-off the day before. (AP Photo/Ahn Young-joon)

World shares mostly higher after rebound on Wall Street

Jan. 29, 2020 4:58 AM EST

Shares advanced in most European and Asian markets on Wednesday after a rebound on Wall Street reversed most losses from a sell-off the day before. Hong Kong's Hang Seng dropped 2.8%, to 27,174.43 after its markets reopened from Lunar New Year holidays, while other Chinese markets remained closed. The U.S....

Currency traders watch monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Jan. 29, 2020. Shares are mostly higher in Asia after a rebound on Wall Street that reversed most losses from a sell-off the day before. (AP Photo/Ahn Young-joon)

Asian shares mostly higher after rebound on Wall Street

Jan. 28, 2020 11:47 PM EST

Shares advanced in most Asian markets on Wednesday after a rebound on Wall Street that reversed most losses from a sell-off the day before. Hong Kong's Hang Seng dropped 2.4%, to 27,289.55 after reopening from Lunar New Year holidays, while other Chinese markets remained closed. The U.S. rally overnight snapped...

Firm says Wawa customers' hacked credit card info being sold

Jan. 28, 2020 5:30 PM EST

PHILADELPHIA (AP) — Convenience store giant Wawa Inc. said Tuesday it is responding to reports that hacked information from its customers' credit cards may be being sold on the dark web. The company said in a news release that customers who may be affected can obtain free credit monitoring and identity...

Saddleback buyer gets final piece of financing package

Jan. 28, 2020 12:10 PM EST

PORTLAND, Maine (AP) — The Finance Authority of Maine's board on Monday approved loan guarantees and a loan necessary for a Boston investment group to proceed with purchasing Saddleback Mountain and reopening the area to skiers next winter. The board unanimously approved $2.5 million in loan insurance on a...