Banking and credit

Federal Reserve Board Chair Jerome Powell testifies during a House Committee on Financial Services hearing, Wednesday, July 18, 2018, on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)
July 18, 2018 - 2:24 pm
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says that the central bank has tools it could use to cushion the adverse effects a trade war might have on the economy. But he tells Congress the effort could be challenging if higher tariffs push inflation up too sharply. Powell says if the...
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Federal Reserve Board Chair Jerome Powell attends a House Committee on Financial Services hearing, Wednesday, July 18, 2018, on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)
July 18, 2018 - 12:20 pm
WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell's congressional appearance to deliver the Fed's semi-annual monetary policy report. (all times local) ___ 11:50 a.m. Powell is getting praise from lawmakers for his efforts to avoid economic jargon in explaining what the Federal...
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FILE- In this Feb. 9, 2017, file photo, traders work the floor at the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Wednesday, July 18, 2018. (AP Photo/Mark Lennihan, File)
July 18, 2018 - 10:14 am
NEW YORK (AP) — U.S. stocks are mixed in early trading Wednesday as energy companies fall with the price of oil, but industrial companies including railroads and airlines climb after a round of strong second-quarter reports. KEEPING SCORE: At 10 a.m. Eastern time, the S&P 500 index was...
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July 18, 2018 - 7:56 am
NEW YORK (AP) — Investment bank Morgan Stanley said its second-quarter profits rose by 39 percent from a year ago, driven by another strong performance in trading and investment banking, as well as a lower tax bill. The New York-based bank said Wednesday that it earned $2.44 billion in the second...
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A woman walks past an electronic board showing Hong Kong share index outside a bank in Hong Kong, Wednesday, July 18, 2018. Asian markets climbed higher on Wednesday as a sweep of positive news from Wall Street and beyond boosted confidence in the U.S. economy. (AP Photo/Kin Cheung)
July 17, 2018 - 11:40 pm
SINGAPORE (AP) — Asian markets climbed higher on Wednesday as a sweep of positive news from Wall Street and beyond boosted confidence in the U.S. economy. KEEPING SCORE: Japan's benchmark Nikkei 225 gained 1.0 percent to 22,921.20 and South Korea's Kospi added 0.3 percent to 2,304.64. Hong Kong's...
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FILE - In this Dec. 13, 2016, file photo, the logo for Goldman Sachs appears above a trading post on the floor of the New York Stock Exchange. Goldman Sachs reports earnings Tuesday, July 17, 2018. (AP Photo/Richard Drew, File)
July 17, 2018 - 3:14 pm
NEW YORK (AP) — Another Wall Street veteran of the financial crisis is stepping aside: Lloyd Blankfein is retiring as CEO of Goldman Sachs after 12 years at the helm of the storied investment bank. Blankfein will give way to David Solomon, a long-time Goldman executive who has been considered...
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FILE- In this June 13, 2018, file photo Federal Reserve Chair Jerome Powell speaks during a news conference after the Federal Open Market Committee meeting in Washington. On Tuesday, July 17, Powell is scheduled to testify to the Senate Banking Committee on his semiannual monetary policy report to Congress. (AP Photo/Jacquelyn Martin, File)
July 17, 2018 - 11:07 am
WASHINGTON (AP) — The Latest on Federal Reserve Chairman Jerome Powell's semi-annual testimony to Congress on Tuesday (all times local): ___ 10:45 a.m. Federal Reserve Chairman Jerome Powell did not specifically answer a question about what might happen to the U.S. economy in a trade war with...
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FILE - In this Dec. 13, 2016, file photo, the logo for Goldman Sachs appears above a trading post on the floor of the New York Stock Exchange. Goldman Sachs reports earnings Tuesday, July 17, 2018. (AP Photo/Richard Drew, File)
July 17, 2018 - 8:21 am
NEW YORK (AP) — Goldman Sachs' profits jumped 44 percent in the second quarter compared with a year ago, driven by the investment bank's core franchises: advising companies on mergers, acquisitions and other deals, and its trading business. The New York-based bank said Tuesday that earnings reached...
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FILE - In this Dec. 13, 2016, file photo, the logo for Goldman Sachs appears above a trading post on the floor of the New York Stock Exchange. Goldman Sachs reports earnings Tuesday, July 17, 2018. (AP Photo/Richard Drew, File)
July 17, 2018 - 8:08 am
NEW YORK (AP) — Goldman Sachs says profits jumped 44 percent in the second quarter compared with a year ago, driven by the investment bank's core franchises: advising companies on mergers, acquisitions and other deals, and its trading business. The New York-based bank said Tuesday that earnings...
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July 16, 2018 - 7:01 am
FRANKFURT, Germany (AP) — An international forum on financial regulation say virtual currencies such as bitcoin do not pose a threat to global stability but require "vigilant monitoring" as the market is changing rapidly. The Financial Stability Board added that that the highly volatile currencies...
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