Banking & Finance
The latest coverage of the banking and financial sectors.
Wall Street hangs near its records as the battle to buy Warner Bros. heats up
U.S. stocks are hanging at the edge of their record heights on Monday as Wall Street waits to hear from the Federal Reserve later this week on what it will do with interest rates.
Fed confronts ‘hardest’ decision on interest rates in final meeting of the year
The Federal Reserve faces a tough decision when it convenes Tuesday for a two-day meeting to determine whether to cut interest rates for a third consecutive time or hold off due to concerns about inflation.
Why Cyber Monday could break spending records despite economic uncertainty
Deals promoted as some of the best of the holiday season are expected to keep people across the United States glued to their computers and smartphones as the post-Thanksgiving shopping marathon wraps up on Cyber Monday.
Economic doomsayers rebuffed by robust post-Thanksgiving sales, White House chief economist says
White House National Economic Council Director Kevin Hassett said Sunday that retailers enjoyed a “blockbuster” sales weekend after Thanksgiving despite narratives about economic pessimism under President Trump.
World shares are mixed, tracking Wall Street’s winning streak, as U.S markets close for Thanksgiving
Shares in Europe are mixed following gains in most Asian markets.
U.S. stocks rise as Wall Street looks to add to its winning streak
U.S. stocks are rising as Wall Street looks to build on its recent winning streak.
Trump may select new Fed chair by Christmas, Treasury Secretary Bessent says
President Trump is likely to select a new Federal Reserve chair before Christmas, Treasury Secretary Scott Bessent said Tuesday.
Tea tariffs once sparked a revolution. Now they are creating angst
A tax on tea once sparked rebellion. This time, it’s just causing headaches.
Trump removes hefty tariffs on coffee, other Brazilian agriculture products
President Trump has removed 40% tariffs on Brazilian coffee, cocoa, beef and other agricultural products that are not grown in sufficient amounts in the U.S.
Pressure ratchets up on Congress to ban lawmakers from the stock market
The public is growing increasingly frustrated with congressional lawmakers profiting from the stock market, and a bipartisan House coalition may soon introduce limits on their trading activities.
Thanksgiving dinner prices fall for 3rd straight year as inflation cools
Thanksgiving turkey dinners will cost less for the third year in a row as inflation cools, the American Farm Bureau Federation reported Wednesday.
Federal Reserve releases new guidance for bank oversight in move praised by industry
The Federal Reserve’s top banking regulator on Tuesday released new guidelines for the agency’s supervision of the financial system, earning praise from industry trade groups and criticism from her predecessor.
White House is interviewing candidates for the next chairman of the Federal Reserve
The White House is in the midst of interviewing candidates to appoint a new Federal Reserve chair when Jerome Powell’s term expires in May, President Trump said Monday.
Bitcoin drops below $90,000 for the first time since April
Bitcoin briefly fell below $90,000 overnight as investors sell once high-flying assets like cryptocurrencies and artificial intelligence stocks.
Wall Street drifts as Alphabet rallies and Nvidia sinks
The U.S. stock market is holding steadier on Monday following two weeks of sharp swings, but it’s churning underneath the surface ahead of big-time reports coming later in the week.
Dow slumps, Nasdaq rebounds amid December rate cut doubts
Wall Street faced an uneven end of the week as sagging tech stocks and doubts about another rate cut from the Federal Reserve weighed on investors.
New report finds federal workforce grows slowly while pay skyrockets
The federal civilian workforce is growing modestly, but its pay has grown nearly fivefold since 2020, with an 80% increase in government workers who pocket salaries over $200,000 and $300,000, according to a new report.
