Latest Financial services News
Trump raced to pick many Cabinet posts. He took more time to settle on a treasury secretary
WASHINGTON (AP) — President-elect Donald Trump launched a blitz of picks for his Cabinet, but he took his time before settling on billionaire investor Scott Bessent as his treasury secretary nominee. The Republican not only wanted someone who jibes with him, but an official who can...
A courtroom of relief: FBI recovers funds for victims of scammed banker
WICHITA, KANSAS (AP) — Sobs of relief broke out in a federal courtroom in Kansas on Monday as dozens of people whose life savings had been embezzled by a bank CEO learned that federal law enforcement had recovered their money. "I just can’t describe the weight lifted off of...
Bitcoin ticks closer to $100,000 in extended surge following US elections
NEW YORK (AP) — Bitcoin extended its streak of record highs after ticking above $99,000 for the first time. The cryptocurrency has rocketed more than 40% in just two weeks. Now, bitcoin is at the doorstep of $100,000, just two years after dropping below $17,000 following the...
Indigenous leaders travel to UK from Peru to draw attention to oil damage and banking
LONDON (AP) — Indigenous leaders from the Wampis Nation in Peru are urging lawmakers at the House of Commons in London to ban international banks' support for Amazon oil activities they say harm their ancestral rainforests. HSBC bank, based in the United Kingdom, JPMorgan Chase in...
Rental home investors poised to benefit as mortgage rates, high home prices sideline buyers in 2025
LOS ANGELES (AP) — Rental homes will remain an attractive option next year to would-be homebuyers sidelined by high mortgage rates and rising home prices, analysts say. American Homes 4 Rent and Invitation Homes are two big real estate investment trusts poised to benefit from the...
SEC Chair Gary Gensler, who led US crackdown on cryptocurrencies, to step down
Securities and Exchange Commission Chair Gary Gensler, who was aggressive in his oversight of cryptocurrencies and other financial markets, will step down from his post on Jan. 20. Gensler pushed changes that he said protected investors, but the industry and many Republicans bristled...
Archegos hedge fund founder Bill Hwang gets 18 years in prison for massive fraud
NEW YORK (AP) — The founder of Archegos Capital Management, a hedge fund, was sentenced to 18 years in prison on Wednesday for securities and market manipulation fraud in a scheme that prosecutors said cost global investment banks billions of dollars. Bill Hwang was told the length...
Donor-advised fund assets top $250 billion, but report says gifts in and out of the funds are down
Total contributions to donor-advised funds dropped 21.7% in 2023, while grants made to charities from those funds declined 1.4%, according to a new report by the National Philanthropic Trust. The 2024 DAF Report looked at the DAF landscape using data for the 2023 fiscal year. While...
Which health insurance plan may be right for you?
Everyone likes a good deal, and health insurance bargains abound this time of year. But buyers should look beyond price when searching for a plan. Shoppers also should consider doctor networks and coverage limits to avoid getting stuck with big bills after care. ...
Higher energy bills push UK inflation to 6-month high in October
LONDON (AP) — Inflation in the U.K. rose sharply to a six-month high in October and back above the rate targeted by rate-setters at the Bank of England, official figures showed Wednesday, cementing market expectations that there will be no further cuts in borrowing costs this year. ...
