Latest Financial services News
Stock market today: Most of Wall Street slips as the bond market cranks up the pressure
NEW YORK (AP) — Stocks mostly slipped in mixed trading Monday as the constrictor of higher interest rates tightened its coils around Wall Street. The S&P 500 edged up by 0.34, or less than 0.1%, to 4,288.39, coming off its worst month of the year. The Dow Jones Industrial...
Sam Bankman-Fried must now convince a jury that the former crypto king was not a crook
NEW YORK (AP) — For a while, Sam Bankman-Fried tried to convince politicians and the public that he was the next J.P. Morgan. Now, he has to convince a jury that he wasn't, in reality, the next Bernie Madoff. The trial of Bankman-Fried, the founder of the failed cryptocurrency...
Where are the homes? Glaring need for housing construction underlined by Century 21 CEO
LOS ANGELES (AP) — The highest mortgage rates in more than two decades are keeping many prospective homebuyers out of the market and discouraging homeowners who locked in ultra-low rates from listing their home for sale. The dearth of available properties is propping up prices even...
Bank of Japan survey shows manufacturers optimistic about economy
TOKYO (AP) — Business sentiment among big Japanese manufacturers improved in July-September for the second straight quarter, according to a central bank survey released Monday. The Bank of Japan's “tankan” quarterly survey measured business sentiment among major manufacturers...
Things to know about California's new proposed rules for insurance companies
SACRAMENTO, Calif. (AP) — Months after California's home insurance market was rattled by major companies pausing or restricting their coverage, the state's top regulator said Thursday that he would write new rules aimed at persuading insurers to continue doing business in the nation's most...
Wildfire-prone California to consider new rules for property insurance pricing
SACRAMENTO, Calif. (AP) — California will let insurance companies consider climate change when setting their prices, the state's chief regulator announced Thursday, a move aimed at preventing insurers from fleeing the state over fears of massive losses from wildfires and other natural disasters....
Liverpool owner FSG announces minority investment by New York equity firm
LIVERPOOL, England (AP) — New York-based investment firm Dynasty Equity has bought a minority stake in Liverpool, the Premier League club said Thursday. Fenway Sports Group (FSG), which owns the six-time European Cup champions, said last year that it was open to selling shares,...
Emirati and Egyptian central banks agree to a currency swap deal as Egypt's economy struggles
CAIRO (AP) — The central banks of the United Arab Emirates and Egypt agreed Thursday to a currency exchange deal, which could bolster the struggling Egyptian economy. A joint news release said the agreement would allow the two central banks to exchange up to 5 billion Emirati...
Rhode Island community bank to pay $9M to resolve discriminatory lending allegations
PROVIDENCE, R.I. (AP) — A community bank in Rhode Island agreed to pay $9 million to resolve allegations that it engaged in lending discrimination by redlining majority-Black and Hispanic neighborhoods, a U.S. attorney announced Wednesday. A complaint accused Washington Trust...
Chase UK will soon bar its customers from making crypto transactions due to an uptick in scams
NEW YORK (AP) — Chase UK, JP Morgan's British digital bank, says it will bar customers from making cryptocurrency transactions starting next month — citing an uptick in scams and fraud. From Oct. 16 onward, Chase customers will no longer be able to make crypto transactions using...
