Latest Financial services News

EXPLAINER: Chinese builder’s debt struggle rattles investors

Sep. 21, 2021 04:38 AM EDT

BEIJING (AP) — Global investors are watching nervously as one of China’s biggest real estate developers struggles to avoid defaulting on tens of billions of dollars of debt, fueling fears of possible wider shock waves for the financial system. Chinese regulators have...

Homeowners near California wildfires won't lose insurance

Sep. 20, 2021 18:21 PM EDT

SACRAMENTO, Calif. (AP) — Homeowners and renters in 22 Northern California counties are guaranteed not to lose their property insurance policies over the next year after the state announced a moratorium on Monday for people who live near recent wildfires. State law...

How major US stock indexes fared Monday

Sep. 20, 2021 16:40 PM EDT

U.S. stocks had their biggest drop since May as traders worried about potential ripple effects if a debt-laden Chinese real estate company defaults and the likelihood that the Federal Reserve will signal that it will pull back its supports for markets and the economy. On...

Fed likely to signal a coming pullback in economic support

Sep. 20, 2021 11:46 AM EDT

WASHINGTON (AP) — The Federal Reserve is expected this week to send its clearest signal yet that it will start reining in its ultra-low-interest rate policies later this year, a first step toward unwinding the extraordinary support it's given the economy since the pandemic struck 18 months...

This Week: Fed policy update, Nike earns, new home sales

Sep. 20, 2021 00:13 AM EDT

A look at some of the key business events and economic indicators upcoming this week: THE FED SPEAKS The Federal Reserve delivers an update on the economy and interest rate policy following a two-day meeting of policymakers Wednesday. ...

Hong Kong shares lead Asia lower; Tokyo and Shanghai closed

Sep. 19, 2021 23:33 PM EDT

Shares fell more than 3% in Hong Kong on Monday in holiday-thinned trading in Asia, with other big markets in Tokyo and Shanghai closed. Other regional benchmarks also fell after Wall Street wrapped up last week with another decline. Investors are...

Tennessee woman’s breast cancer diagnosis helped save mom

Sep. 19, 2021 00:09 AM EDT

BARTLETT, Tenn. (AP) — Karen Boyd says her daughter Allison Robertson was “born to save my life.” “Thank God (Robertson) slept in her bra,” Boyd said. If she hadn’t, a lineage of breast cancer genes may never have unraveled, and Boyd, 50, to this day might not...

EXPLAINER: Why World Bank is under fire over set of rankings

Sep. 17, 2021 20:13 PM EDT

WASHINGTON (AP) — Under fire for allegations that it bowed to pressure from China and other governments, the World Bank has dropped a popular report that ranked countries by how welcoming they are to businesses. The report is important to many companies and investors...

Inquiry puts ex-World Bank officials under scrutiny on China

Sep. 17, 2021 16:15 PM EDT

WASHINGTON (AP) — Former officials of the World Bank are under pressure after an investigation found that they pressured staff members of the bank to alter data on global business conditions in order to favor China and some other governments. The World Bank said it...

Davenport settles with former fire chief over termination

Sep. 17, 2021 13:02 PM EDT

DAVENPORT, Iowa (AP) — The city of Davenport will pay its insurance carrier about $260,000 as part of a settlement of a lawsuit filed by a former fire chief who alleged she was discriminated against because of her age and gender. Former Fire Chief Lynn...