Latest Financial services News
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Federal Reserve highlights its political independence as presidential campaign heats up
WASHINGTON (AP) — The Federal Reserve is highlighting the importance of its political independence at a time when Donald Trump, who frequently attacked the Fed's policymaking in the past, edges closer to formally becoming the Republican nominee for president. On Friday, the Fed...
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Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts
FRANKFURT, Germany (AP) — Inflation in the 20-nation eurozone crept lower to 2.5% in June, but remained stuck above the level favored by the European Central Bank, which is in no hurry to add more rate cuts after a first tentative reduction in its benchmark rate. The figure...
Inflation falls slightly to 2.5% in Europe in June, remains stuck above levels favored by central bank
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Japan revises economic growth in 1Q downward, as latest data show sluggish demand and rising prices
BANGKOK (AP) — Japan revised its earlier estimates to show that its economy contracted at a 2.9% annual pace in the first quarter of the year, as meanwhile a survey by the central bank released Monday showed conditions remain sluggish. Analysts had expected the downward revision...
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Warren Buffett donates again to the Gates Foundation but will cut the charity off after his death
OMAHA, Neb. (AP) — Investor Warren Buffett announced another $5.3 billion in charitable gifts Friday, but in a major shift of his longtime giving plan he said he plans to cut off donations to the Bill & Melinda Gates Foundation after his death and let his three children decide how to...
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The Czech central bank again cuts a key interest rate as inflation stays low and economy recovers
PRAGUE (AP) — The Czech Republic’s central bank on Thursday cut its key interest rate for the fifth time in a row as inflation remains low and the economy is showing signs of recovery. The cut, which had been predicted by analysts, brought the interest rate down by a...
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Southwest Airlines says a key measure of pricing power will be weaker than expected in 2Q
DALLAS (AP) — Southwest Airlines, already under pressure from a hedge fund for disappointing financial results, said Wednesday that a key revenue ratio will be weaker than expected because of changes in how consumers book travel. The airline said it still expects second-quarter...
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Robinhood CEO discusses the brokerage's evolution leading up to another ride on the meme stock wave
SAN FRANCISCO (AP) — Meme stocks like GameStop are hot again, reviving memories of early 2021 when they turned into a craze that ended up burning many investors along with Robinhood Markets. The online brokerage was especially popular among younger generations helped propel the meme stock boom...
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Rebuilding Paradise: Nonprofit's $500 'defensible space' grants help cut residents' insurance costs
PARADISE, Calif. (AP) — The letter from the insurance company arrived just before Brian and Morgan Gobba finally finished construction on their new house: Their homeowner’s policy was being canceled. The Gobbas were among the first families to return to Paradise after the 2018...
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Bank of England keeps main interest rate at 16-year high of 5.25% despite inflation fall
LONDON (AP) — The Bank of England on Thursday kept its main interest rate at a 16-year high of 5.25% even though inflation has fallen to its target of 2%, with several policymakers warning that a premature cut could stoke another bout of price rises. For the second meeting in a...
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