Banking and credit

February 17, 2018 - 2:28 pm
LONDON (AP) — Latvia's state broadcaster says the national anti-corruption agency has raided the office and a property of the head of the country's central bank, Ilmars Rimsevics. LTV reported on Saturday that the raid took place on Friday. It aired footage that appeared to show Rimsevics arriving...
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February 16, 2018 - 2:18 am
NEW DELHI (AP) — Reports say that Indian investigators have ordered two wealthy jewelers to be questioned about an alleged $1.8 billion banking scam. The reports Friday by the news agency Press Trust of India and other media came a day after authorities raided the homes and offices of Nirav Modi...
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FILE- In this Nov. 24, 2017, file photo, a shopper looks over clothing at a J.C. Penney store in Seattle. On Wednesday, Feb. 14, 2018, the Labor Department reports on U.S. consumer prices for January. (AP Photo/Elaine Thompson, File)
February 14, 2018 - 11:59 am
WASHINGTON (AP) — U.S. consumer prices, excluding the volatile food and energy categories, rose 0.3 percent last month. That was the biggest climb in a year and has intensified inflation fears in financial markets. Overall consumer prices rose 0.5 percent in January, the most in four months, the...
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FILE- In this Nov. 24, 2017, file photo, a shopper looks over clothing at a J.C. Penney store in Seattle. On Wednesday, Feb. 14, 2018, the Labor Department reports on U.S. consumer prices for January. (AP Photo/Elaine Thompson, File)
February 14, 2018 - 10:41 am
WASHINGTON (AP) — U.S. consumer prices, excluding the volatile food and energy categories, rose 0.3 percent last month. That was the biggest climb in a year and has intensified inflation fears in financial markets. Overall consumer prices rose 0.5 percent in January, the most in four months, the...
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FILE - This Oct. 4, 2014, file photo, shows the facade of the New York Stock Exchange. Health care companies are leading stocks broadly lower in early trading Tuesday, Feb. 13, 2018, on Wall Street as the market gives back some of its big gain from the day before. (AP Photo/Richard Drew, File)
February 14, 2018 - 9:19 am
NEW YORK (AP) — The latest on developments in financial markets (all times local): ___ 9:15 a.m. U.S. stock futures are lower after the government reported the highest increase in consumer prices in a year. Futures for the Dow Jones industrials were indicating a drop of 177 points at the open. The...
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In this Feb. 13, 2018 photo the lights of the skyline of the Frankfurt, Germany, banking district are reflected in the river main after the sun set. (Boris Roessle/dpa via AP)
February 14, 2018 - 7:03 am
FRANKFURT, Germany (AP) — European finance officials are underlining their skepticism toward virtual currencies like bitcoin, saying they are risky for investors and inefficient as a way to pay for things. A top monetary official, Jens Weidmann, said in a speech Wednesday that virtual currencies...
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February 14, 2018 - 4:00 am
FRANKFURT, Germany (AP) — A top European monetary official says digital currencies are no substitute for conventional money issued and managed by central banks. Jens Weidmann said in a speech Wednesday that digital currencies such as Bitcoin are not good means of payment because their values...
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February 13, 2018 - 10:13 am
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the global economy is recovering strongly for the first time in a decade, but the central bank needs to remain alert to any emerging risks to financial stability. Powell says the central bank is in the process of "gradually" raising...
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February 11, 2018 - 7:58 pm
NEW YORK (AP) — Wells Fargo has made missteps in its efforts to make amends to customers who were forced to buy unneeded auto insurance. Bank spokeswoman Catherine Pulley said 38,000 customers received a letter they did not need and that contained no refund. She said the error was due to a coding...
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Trader Robert Arciero works on the floor of the New York Stock Exchange, Friday, Feb. 9, 2018. Wall Street capped a day of wild swings Friday with a late-afternoon rally that reversed steep early losses and sent the Dow Jones industrial average 330 points higher. Even with the rebound, this was the worst week for the market in about two years. (AP Photo/Richard Drew)
February 09, 2018 - 9:07 pm
A late-afternoon rally reversed steep losses for U.S. stocks Friday, lifting the Dow Jones industrial average more than 300 points and capping a turbulent week on Wall Street that left the market with its steepest weekly slide in two years. The big point swings that pummeled stocks reflected a...
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