Latest Financial services News

The Hartford agrees to pay $650M in Boy Scouts bankruptcy

Apr. 16, 2021 20:41 PM EDT

DOVER, Del. (AP) — Insurance company The Hartford has agreed to pay $650 million into a proposed trust fund for victims of child sexual abuse as part of the Boy Scouts of America bankruptcy case. In exchange for the payment, the Boy Scouts and its local councils would...

McAuliffe has fundraising lead in Virginia governor's race

Apr. 16, 2021 16:52 PM EDT

RICHMOND, Va. (AP) — Democratic former Virginia Gov. Terry McAuliffe has a commanding lead in fundraising as he seeks another term in the governor's mansion, according to campaign finance reports filed this week. McAuliffe reported raising $4.2 million in the first...

Editorial Roundup: New England

Apr. 16, 2021 16:22 PM EDT

Hartford Courant. April 16, 2021. Editorial: The University of Hartford’s job is educating a diverse student body, not staying in NCAA Division 1 Somewhere in all the hand-wringing about the University of Hartford weighing the possibility of...

Inslee signs measure addressing health provider PPE costs

Apr. 16, 2021 15:12 PM EDT

OLYMPIA, Wash. (AP) — Health benefit plans would have to reimburse health care providers a set amount for personal protective equipment for the duration of the coronavirus pandemic under a measure signed Friday by Washington Gov. Jay Inslee. Some providers in the state,...

Turkey to ban cryptocurrencies for buying goods, services

Apr. 16, 2021 04:54 AM EDT

ANKARA, Turkey (AP) — Turkey’s central bank is banning the use of cryptocurrencies such as bitcoin in payments for goods and services, according to a decision published in the country’s Official Gazette on Friday. The decision comes as many in Turkey have turned to...

New Mexico settles retaliation lawsuit by whistleblower

Apr. 15, 2021 18:50 PM EDT

SANTA FE, N.M. (AP) — The state of New Mexico has reached a $260,000 settlement with a whistleblower who alleged retaliation by state insurance regulators after she reported that a major health care insurer was allegedly avoiding tax payments. An attorney for Shawna...

UnitedHealth ups profit forecast after strong start to year

Apr. 15, 2021 11:10 AM EDT

UnitedHealth's first-quarter profit jumped about 44%, and the nation's largest health insurer also hiked its 2021 outlook despite expecting more hits from the COVID-19 pandemic. The company said Thursday that the performance of its Optum division was particularly strong....

Citigroup profit triples in 1Q, tops estimates; revenue down

Apr. 15, 2021 09:51 AM EDT

NEW YORK (AP) — Citigroup's profits more than tripled in the first quarter, the banking conglomerate said Thursday, helped by the release of billions of dollars from its loan-loss reserves. The bank also announced plans to scale back its global consumer banking franchise outside the U.S. ...

Turkish central bank maintains key rate unchanged at 19%

Apr. 15, 2021 08:56 AM EDT

ANKARA, Turkey (AP) — Turkey’s central bank on Thursday kept a key interest rate unchanged at 19%, in its first rate decision since the surprise appointment of a new governor that shook confidence in the country's economy. President Recep Tayyip Erdogan last month...

Bank of America profit doubles in 1Q to $8.1 billion

Apr. 15, 2021 07:49 AM EDT

NEW YORK (AP) — Bank of America's profits doubled in the first quarter, the bank said Thursday, as the improving economy allowed it to release billions from its loan-loss reserves that it originally set aside in the early days of the pandemic. Bank of America is the...