Banking and credit

October 15, 2020 - 8:35 am
CHARLOTTE, North Carolina (AP) — Morgan Stanley said Thursday that profit rose 25% in the third quarter from last year, as the investment bank benefitted from a boost in trading revenue as well as higher investment banking fees. The New York-based firm posted a profit in the third quarter of $2.72...
Read More
October 14, 2020 - 10:08 am
CHARLOTTE, North Carolina (AP) — Goldman Sachs said Wednesday that its profits jumped sharply in the third quarter, helped by a strong performance by its trading desks and less need to set aside funds to cover potentially bad loans. The New York-based investment bank said it earned $3.62 billion,...
Read More
FILE - In this Oct. 9, 2020, file photo, a health worker, right, administers the first dose of a COVID-19 vaccine currently on phase III clinical trials to Cem Gun, an emergency medicine physician at the Acibadem Hospital in Istanbul. The World Bank has approved $12 billion in financing to help developing countries buy and distribute coronavirus vaccines, tests, and treatments, aiming to support the vaccination of up to 1 billion people, the bank said in a statement late Tuesday, Oct. 13. (AP Photo/Emrah Gurel, File)
October 14, 2020 - 4:22 am
The World Bank has approved $12 billion in financing to help developing countries buy and distribute coronavirus vaccines, tests, and treatments, aiming to support the vaccination of up to 1 billion people. The $12 billion “envelope" is part of a wider World Bank Group package of up to $160 billion...
Read More
FILE - This Sept. 13, 2014, file photo, shows the Chase bank logo in New York. JPMorgan Chase says profits improved marginally in the third quarter, a notable change after the nation’s largest bank had to set aside billions in the last two quarters to cover losses from the coronavirus pandemic. The New York-based bank said it earned a profit of $9.44 billion, or $2.92 a share, in the July to September period. (AP Photo/Frank Franklin II, File)
October 13, 2020 - 5:51 pm
CHARLOTTE, N.C. (AP) — Two of the nation's biggest banks — JPMorgan Chase and Citigroup — said Tuesday that their profits improved markedly over the summer, as the U.S. economy tried to bounce back from the coronavirus shutdowns that were imposed earlier this year. Even so, both New York banks...
Read More
October 13, 2020 - 8:40 am
NEW YORK (AP) — Citigroup says profit fell 34% in the third quarter due to weakness in its consumer banking division. The New York-based bank said Tuesday that third-quarter net income fell to $3.23 billion from $4.91 billion in the year ago quarter. Per share earnings for the latest quarter were $...
Read More
FILE - In this June 15, 2015, file photo, a Saudi man walks through the Tadawul stock exchange in Riyadh, Saudi Arabia. Saudi Arabia's National Commercial Bank said Sunday, Oct. 11, 2020, it will purchase rival lender Samba Financial Group in a deal valued at $14.8 billion, creating what would become the kingdom's largest bank. (AP Photo/Hasan Jamali, File)
October 11, 2020 - 11:25 am
DUBAI, United Arab Emirates (AP) — Saudi Arabia's National Commercial Bank said Sunday it will purchase rival lender Samba Financial Group in a deal valued at $14.8 billion, creating what would become the kingdom's largest bank. The bank will control some $223 billion in assets and a market...
Read More
The TIPCO tower stands in Bangkok, Thailand, Wednesday, Sept. 2, 2020. One of Asia's biggest asphalt companies, Tipco Asphalt, is helping Venezuela skirt harsh U.S. sanctions by moving hundreds of millions of dollars on behalf of the state-run oil company PDVSA, according to an Associated Press investigation. (AP Photo/Gemunu Amarasinghe)
October 08, 2020 - 8:31 am
MIAMI (AP) — Back in January, a yearlong campaign of U.S. sanctions was taking its toll at Venezuela’s state-run oil company. Many of PDVSA’s overseas bank accounts had been frozen or closed, hampering its ability to pay vendors on whom it relies to keep the nation’s crude flowing. So, as the bills...
Read More
FILE - In this Tuesday, Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley is buying Eaton Vance in a deal valued at about $7 billion. Morgan Stanley Chairman and CEO James P. Gorman said in statement Thursday, Oct. 8, 2020, that the transaction adds more fee-based revenues to its investment banking and institutional securities franchise. (AP Photo/Mark Lennihan, File)
October 08, 2020 - 8:03 am
NEW YORK (AP) — Morgan Stanley is buying the investment management firm Eaton Vance in a deal valued at about $7 billion. Eaton Vance, based in Boston, has over $500 billion in assets under management. Morgan Stanley Chairman and CEO James P. Gorman said in a prepared statement Thursday that Eaton...
Read More
A woman walks past a personal finance loan office Thursday, Oct. 1, 2020, in Franklin, Tenn. U.S. consumers cut back on their borrowing in August, with credit card use dropping for a sixth straight month, reflecting caution in the midst of the pandemic-triggered recession. The Federal Reserve said Wednesday, Oct. 7, that total borrowing fell by $7.2 billion after a gain of $14.7 billion in July. (AP Photo/Mark Humphrey)
October 07, 2020 - 5:41 pm
WASHINGTON (AP) — U.S. consumers cut back on their borrowing in August, with credit card use dropping for a sixth straight month, reflecting caution in the midst of the pandemic-triggered recession. The Federal Reserve said Wednesday that total borrowing fell by $7.2 billion after a gain of $14.7...
Read More
Federal Reserve Board Chairman Jerome Powell testifies during a Senate Banking Committee hearing, Thursday Sept. 24, 2020 on Capitol Hill in Washington about the CARES Act and the economic effects of the coronavirus pandemic. (Drew Angerer/Pool via AP)
October 07, 2020 - 2:32 pm
WASHINGTON (AP) — Federal Reserve officials last month believed that while the U.S. economy was recovering faster than expected, it faced ongoing threats, including a failure by Congress to provide further rescue aid. The Fed on Wednesday released minutes of its most recent meeting, showing that...
Read More

Pages