Financial services

File---Picture taken June 24, 2020 shows the Wirecard logo at the headquarters of the payment service provider in Aschheim, Germany. (Sven Hoppe/picture-alliance/dpa via AP, file)
July 05, 2020 - 7:47 am

Germany to revamp financial oversight after Wirecard scandal

BERLIN (AP) — Germany's finance minister says he wants to revamp the oversight system for the country's financial industry in the wake of the accounting scandal at payment systems provider Wirecard. The Munich-based Wirecard filed for bankruptcy recently after auditors couldn’t find accounts in the...
Read More
July 03, 2020 - 1:10 pm

Ukraine's parliament accepts chief banker's resignation

KYIV, Ukraine (AP) — Ukraine’s parliament on Friday accepted the resignation of the country’s top banker, who has stepped down citing political pressure. National Bank head Yakiv Smolii submitted his letter of resignation Wednesday, pointing at “systematic political pressure” as the reason for his...
Read More
FILE - In this March 12, 2020 file photo, Venezuelan President Nicolas Maduro speaks during a press conference at the Miraflores Presidential Palace in Caracas, Venezuela. A British judge on Thursday July 2, 2020, refused to give Venezuela control of over $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to the President Nicolas Maduro since Britain does not recognize him as the president. Maduro has demanded the gold to help his cash-starved nation fight the coronavirus pandemic. (AP Photo/Matias Delacroix, File)
July 02, 2020 - 9:15 am

British judge denies Venezuela's Maduro gold in London bank

LONDON (AP) — A British judge on Thursday refused to give Venezuela's Nicolás Maduro control of over $1 billion in gold sitting in a Bank of England vault, ruling that it is unlawful to give it to the socialist leader since Britain does not recognize him as president of the Latin American nation...
Read More
July 01, 2020 - 2:54 pm

Insurer Centene plans 3,200 jobs at new N.C. regional hub

RALEIGH, N.C. (AP) — Government health insurance provider Centene Corp. said on Wednesday it will build an East Coast campus in Charlotte, North Carolina, developing a $1 billion construction project that's expected to create more than 3,200 new jobs by 2032. Gov. Roy Cooper described the expansion...
Read More
June 29, 2020 - 6:10 pm

Fed's program for loaning to Main Street off to slow start

WASHINGTON (AP) — Michael Haith, owner and CEO of a Denver-based restaurant chain called Teriyaki Madness, is in an unusual position for people like him: He's making money through food delivery and pickup and wants to borrow funds so he can expand. Yet so far, a Federal Reserve lending program set...
Read More
June 29, 2020 - 4:51 pm

Powell says US economy facing heightened uncertainty

WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell says the outlook for the U.S. economy is “extraordinarily uncertain” and the success of the recovery effort will depend in large part on the country’s ability to contain the spread of the coronavirus. “A full recovery is unlikely until people...
Read More
June 29, 2020 - 11:36 am

EU prolongs sanctions against Russia over Ukraine conflict

BRUSSELS (AP) — The European Union on Monday prolonged economic sanctions against Russia for six months for failing to live up to its commitments to the peace agreement in Ukraine. The measures target Russia’s financial, energy and defense sectors, as well as goods that can be used for both...
Read More
FILE - In this Oct. 14, 2019, file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. The Federal Reserve said on Thursday, June 25, 2020, a worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause nation’s 34 largest banks to collectively lose roughly $700 billion. To bolster the banks ahead such a potentially damaging recession, the Fed ordered the banks to suspend stock buybacks and dividend payouts until Sept. 30. (AP Photo/Steven Senne)
June 25, 2020 - 11:38 pm

Fed stops big banks from buying back stock, caps dividends

NEW YORK (AP) — A worst-case scenario for the U.S. economy ravaged by the coronavirus pandemic would cause the nation’s 34 largest banks to collectively lose roughly $700 billion, the Federal Reserve said Thursday. To bolster the banks ahead of such a potentially damaging recession, the Fed ordered...
Read More
FILE - This May 22, 2020 photo shows the Federal Reserve building in Washington. The Federal Reserve and four other bank regulatory agencies announced on Thursday, June 25, that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “Volcker Rule” gave an immediate boost to bank stocks because the rule change could free up billions of dollars in capital in the banking industry.(AP Photo/Patrick Semansky, File)
June 25, 2020 - 1:59 pm

Federal banking agencies ease Volcker Rule restrictions

WASHINGTON (AP) — The Federal Reserve and four other regulatory agencies announced on Thursday that they have finalized a rule that will ease restrictions curtailing the ability of banks to make investments in such areas as hedge funds. The announcement of the easing of regulations know as the “...
Read More
FILE - In this Oct. 23, 2019 file photo, developer Danny Gaekwad talks about the roof top bar on his Hilton Garden Inn hotel that is presently under construction in Ocala, Fla. Since the coronavirus crisis started, hotel owners say they are struggling to get relief on a type of loan that Wall Street investors buy. [Doug Engle/Ocala Star-Banner via AP)
June 25, 2020 - 10:20 am

Wall Street-owned loans tricky for hoteliers in virus era

ORLANDO, Fla. (AP) — Hotel owner and developer Danny Gaekwad survived steep drops in business after the 9/11 attacks and the recession of the late 2000s, but nothing prepared him for the revenue tailspin that followed lockdowns and travel restrictions in March to stop the spread of the new...
Read More

Pages