The latest coverage of the banking and financial sectors.
Top White House economic adviser Larry Kudlow said Tuesday that it would be up to Herman Cain to withdraw from consideration to be nominated to the Federal Reserve, if the embattled former pizza chain executive and presidential candidate chooses to bail out.
Sen. Kevin Cramer said Thursday he would become the fourth Republican senator to vote against President Trump’s Federal Reserve nominee Herman Cain, effectively ending the pizza executive’s chances to join the board.
The White House said Wednesday the administration is revoking dozens of visas tied to Venezuelan President Nicolas Maduro, as the administration ramps up pressure on the strongman’s inner circle and financial networks.
Gregory McDonald strides across the spotless factory floor at his company, Goodfish, glowing with pride. He plowed his life savings into the injection-molding equipment that churns out plastic parts for everything from aircraft to sprinkler systems and disposable medical devices. He’s ready to do anything necessary to protect that investment.
The head of the Federal Reserve addressed concerns Tuesday about conflicting state and federal marijuana laws and their effect on the financial industry.
A federal appeals court has blessed AT&T’s takeover of Time Warner, defeating the Trump administration by affirming that the $81 billion merger won’t harm consumers or competition in the booming pay TV market.
A French court ordered Swiss bank UBS to pay more than 3.7 billion euros ($4.2 billion) in fines for helping wealthy French clients evade tax authorities, wrapping up one of France’s biggest-ever tax evasion trials.
The U.S. and China will hold more trade talks in Washington next week, following negotiations in Beijing that “led to progress,” the White House said Friday.
On Valentine’s Day, Amazon broke up with New York City and turned all of its attention to Northern Virginia, announcing it would not set up half of its second headquarters in Queens and would move ahead with its plans for Crystal City.
Southern regional banks BB&T and SunTrust are combining in an all-stock deal valued at about $66 billion.
President Trump on Wednesday nominated David Malpass to lead the World Bank, selecting an ally who shares his “America First” skepticism of large, multilateral institutions like the bank itself.
President Trump looks to have a fight on his hands if, as expected, he taps Treasury Department official David Malpass to be the next president of the World Bank.
There’s a dirty little secret of the student debt crisis. One that affects millions of borrowers, but isn’t talked about at dinner tables, on social media or in think pieces about student loans.
With the Federal Reserve considered sure to leave interest rates unchanged Wednesday, investors will be hoping to hear Chairman Jerome Powell sound a reassuring theme that a pause in the Fed’s rate hikes could last a while.
U.S. and Chinese negotiators start two days of high-level talks Wednesday aimed at settling a six-month trade war that has weakened both sides, shaken financial markets and clouded the outlook for the global economy.
President Trump types a tweet or makes an off-the-cuff remark to reporters about the Federal Reserve or China trade talks, and the Big Board starts moving. For Wall Street, that is the all-too-familiar story of the Trump presidency.
The Justice Department on Monday announced criminal charges against China’s largest smartphone manufacturer, accusing Huawei of stealing trade secrets from an American rival, even handing out bonuses to employees based on the value of the technology they stole.
Japan’s prime minister says China’s slowing growth, Brexit woes and U.S.-China trade disputes pose risks to the world economy, while decrying the World Trade Organization as “behind the curve” and in need of reform to help ease trade tensions.
Secretary of State Mike Pompeo said Tuesday that President Trump’s “disruption” of the old world order, combined with Britain’s decision to leave the European Union and the election of a Trump-style president in Brazil, are good for the global economy.
Before you tackle lofty financial resolutions like paying off debt this year, do yourself a quick favor and freeze your credit reports. It’s free, doesn’t affect your credit score and helps protect your financial future.
A high-stakes battle of wills between Washington and Beijing escalated Tuesday as the Trump administration said it will formally request that Canada extradite top tech executive Meng Wanzhou to face federal charges, while the Chinese government demanded she be allowed to come home and her company fiercely rejected charges it is spying on citizens and customers around the world.
A Tokyo court rejected former Nissan chairman Carlos Ghosn’s latest request for bail on Tuesday, more than two months after his arrest.
China on Tuesday demanded the U.S. drop a request that Canada extradite a top executive of the tech giant Huawei, shifting blame to Washington in a case that has severely damaged Beijing’s relations with Ottawa.
China’s economic growth hit a three-decade low in 2018, adding to pressure on Beijing to beef up stimulus measures and settle a tariff war with Washington.
The Supreme Court on Monday allowed the Consumer Financial Protection Bureau to continue operating by refusing to hear a challenge that had argued the agency set up after the 2008 financial collapse was unconstitutional.
The president of the Chamber of Commerce called on Congress and the White House on Thursday to resolve the government shutdown, saying the 20-day-old impasse threatens economic growth and delays solutions on immigration, infrastructure and trade.
President Trump said Sunday that weakness in China’s economy could spur a trade deal, as U.S. and Chinese negotiators in Beijing held new talks under rising pressure to end the tariff war that is hurting both nations’ economies and roiling financial markets.
Chinese and American officials began talks Monday aimed at ending a bruising tariffs battle between the world’s two biggest economies, as Beijing complained over the sighting of a U.S. warship in what it said were Chinese waters.
President Trump defended his handling of the trade war with Beijing on Thursday as Wall Street suffered another steep slide, led by Apple’s slowdown in iPhone sales in China and weak growth at U.S. factories in December.
Wells Fargo will pay $575 million in a settlement with attorneys general from all 50 states and the District of Columbia that are investigating fake accounts opened without the knowledge of customers and a string of other dodgy practices.
The euro is about to celebrate its 20th birthday, but the countries that use it are still wrestling with how the shared currency should work and how to fix flaws exposed by the debt crisis that marred its second decade.
Wall Street notched its best day in 10 years as stocks rallied back Wednesday, giving some post-Christmas hope to a market that has otherwise been battered this December.
The email caught the executive at a small Connecticut company by surprise one morning in 2016. The company’s owner, or so he thought, was requesting a money transfer to pay for supplies from a new vendor.
Top White House economist Kevin Hassett on Wednesday knocked down reports that President Trump was turning against Treasury Secretary Steven Mnuchin.
President Donald Trump says he has confidence in Treasury Secretary Steven T. Mnuchin, calling him a “very talented guy” and a “very smart person.”
Japanese stocks plunged Tuesday and other Asian markets declined following heavy Wall Street losses triggered by President Donald Trump’s criticism of the U.S. central bank.
A Japanese court approved a bail request Tuesday for Nissan Motor Co. executive Greg Kelly, who was detained and charged with underreporting the income of his boss, former Nissan chairman Carlos Ghosn.
President Trump blasted the Federal Reserve Monday, saying it was the biggest problem with the economy after it raised interest rates last week.
Wall Street’s stockings appeared to have coal toes for 2018, as stock markets dropped sharply by 650 points Monday after last week’s crushing falls wiped out much of the year’s gains.
Japanese prosecutors added a new allegation of breach of trust against Nissan’s former chairman Carlos Ghosn on Friday, dashing his hopes for posting bail quickly.
The Federal Reserve is raising its key interest rate for the fourth time this year to reflect the U.S. economy’s continued strength but signaling that it expects to slow hikes next year.
President Trump warned the Federal Reserve Tuesday not to “make yet another mistake” as it prepares to raise interest rates again this week, actions that the president has blamed for the plummeting stock market.
As the global battle for economic supremacy plays out between the United States and China, Canadian officials, business leaders and ordinary residents fears they are caught in the crossfire.
China has announced a 90-day suspension of tariff hikes on $126 billion of U.S. cars, trucks and auto parts following its cease-fire in a trade battle with Washington that threatens global economic growth.
British Prime Minister Theresa May has won a confidence vote by Conservative Party lawmakers that could have brought her leadership to an abrupt end.
China is moving to lower tariffs on cars, according to reports Tuesday, signaling progress on President Trump’s get-tough trade stance toward Beijing.
British Prime Minister Theresa May on Monday postponed Parliament’s vote on her Brexit divorce deal with the European Union, acknowledging that lawmakers would have rejected it by a “significant margin.”
General Motors is fighting to retain a valuable tax credit for electric vehicles as the nation’s largest automaker tries to deal with the political fallout triggered by its plans to shutter several U.S. factories and shed thousands of workers.
At a time of maximum tension in the U.S.-China relationship, news of the arrest last weekend of a top Chinese tech official in Canada managed to set off multiple shock waves Thursday, threatening to buckle global stock markets and wipe out a big chunk of the recent Wall Street gains President Trump is fond of trumpeting.
Stocks recovered in a late rally Thursday after nearly wiping out all gains for the year, capping a tumultuous trading day that reflected investors’ persistent jitters over the U.S. trade war with China and fears of a weakening global economy.
Just five of the 565 companies in President Trump’s business empire are signed up to use E-Verify, the government’s best tool to weed illegal immigrants out of the workforce, according to a Washington Times analysis that suggests the president could personally be doing more on that front.
Skepticism mounted Tuesday about President Trump’s impromptu trade agreement with the president of China, as Mr. Trump threatened new penalties against Beijing if the deal falls through. Stock markets plummeted.
President Trump’s breakthrough in trade talks with Chinese President Xi Jinping was cheered Sunday by top business executives who previously criticized the administration’s get-tough tariff tactics.
For President Mauricio Macri, this weekend’s Group of 20 summit was supposed to showcase a confident, booming Argentina. Instead, President Trump and other world leaders will descend upon a nation mired in social unrest and economic crisis.
