Latest Financial services News
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...
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...
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...
Swiss central bank cuts its main interest rate by 1/4 point, citing easing inflationary pressures
GENEVA (AP) — The Swiss National Bank said Thursday it has lowered its main policy rate by a quarter of a percentage point, citing a drop in “underlying inflationary pressure” despite an uptick in some costs like rents, tourism services and oil products. The central bank...
Apple kills off its buy now, pay later service barely a year after launch
NEW YORK (AP) — Apple is discontinuing its buy now, pay later service known as Apple Pay Later barely a year after its initial launch in the U.S., and will rely on companies who already dominate the industry like Affirm and Klarna. It's an acknowledgement from a company known for...
Akio Toyoda, grandson of Toyota founder, wins shareholders' approval to stay in leadership
TOKYO (AP) — Toyota shareholders voted Tuesday in support of all the company's proposals, including keeping Akio Toyoda, grandson of the Japanese automaker’s founder, as chairman on the board. Details on the vote tallies were not immediately available. But the company confirmed...
Autodesk, Walt Disney rise; AMC Networks, Dycom fall, Monday, 6/17/2024
NEW YORK (AP) — Stocks that traded heavily or had substantial price changes on Monday: Autodesk Inc., up $14.64 to $240.51. Investor Starboard Value disclosed a $500 million stake and wants improvements at the company. Aaron's Company Inc., up $2.52 to...
China keeps lending rate unchanged as data show housing market is still struggling
BANGKOK (AP) — China's central bank kept a key lending rate unchanged on Monday, choosing not to loosen credit as data for May showed signs of persisting weakness in the world's No. 2 economy's manufacturing and real estate sectors. The central bank kept its rate for 1-year...
Fight for control of Yemen's banks between rebels, government threatens to further wreck economy
SANAA, Yemen (AP) — Yemen’s Houthi rebels and its internationally recognized government are locked in a fight for control of the country’s banks that experts warn is threatening to further wreck an economy already crippled by nearly a decade of war. The rivalry over the banks...
Nigeria bets on a new $2.25B World Bank loan to support reforms that have resulted in hardship
ABUJA, Nigeria (AP) — The World Bank has approved a $2.25 billion loan for Nigeria to shore up revenue and support economic reforms that have contributed to the worst cost-of-living crisis in many years for Africa’s most populous country. The bank said in a statement late...
