Banking and credit

In this Feb. 20, 2020, photo, items from H&M’s new street wear collection are displayed at a store in New York. The collection was designed in collaboration with Ruth Carter, the Academy-Award winning designer behind the costumes for films such as “Black Panther” and “Malcolm X." It debuted as more companies and brands are getting into the business of Black History Month but also trying not to leave the impression that African American consumers are important just once a year. (AP Photo/Richard Drew)
February 25, 2020 - 5:36 pm
NEW YORK (AP) — From shoes and T-shirts to dolls and tote bags, more companies and brands are getting into the business of Black History Month but trying not to leave the impression that African American consumers are important just once a year. Some businesses are using February to show off the...
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Women wearing sanitary masks walk in downtown Milan, Italy, Monday, Feb. 24, 2020. Italy has been scrambling to check the spread of Europe's first major outbreak of the new viral disease amid rapidly rising numbers of infections, calling off the popular Venice Carnival, scrapping major league soccer matches in the stricken area and shuttering theaters, including Milan's legendary La Scala. (AP Photo/Luca Bruno)
February 24, 2020 - 11:48 am
FRANKFURT, Germany (AP) — The widening coronavirus outbreak threatens to seriously disrupt the global economy just as it was steadying itself against headwinds from the U.S.-China trade dispute. Stocks fell sharply on Monday around the world on news of more infections in different countries. The U...
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A currency trader wears a face mask at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Monday, Feb. 24, 2020. (AP Photo/Ahn Young-joon)
February 24, 2020 - 6:14 am
BANGKOK (AP) — Shares skidded, oil prices sank and the price of gold surged on Monday as the number of people infected or killed by the viral outbreak that began in China surged, heaping more uncertainty on the economic outlook. The decline promises a sharp drop on Wall Street when it opens and...
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Nicola T. Hanna, U.S. Attorney for the Central District of California, at podium, announces at a news conference in Los Angeles Friday, Feb. 21, 2020, that Wells Fargo has agreed to pay $3 billion to settle criminal and civil investigations into a long-running practice whereby company employees opened millions of unauthorized bank accounts in order to meet unrealistic sales goals. (AP Photo/Stefanie Dazio)
February 21, 2020 - 4:39 pm
LOS ANGELES (AP) — Wells Fargo agreed Friday to pay $3 billion to settle criminal and civil investigations into a long-running practice whereby company employees opened millions of unauthorized bank accounts in order to meet unrealistic sales goals. Since the fake-accounts scandal came to light in...
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FILE - In this Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley is buying online brokerage E-Trade in an all-stock deal valued at about $13 billion. In the all-stock deal announced Thursday, Feb. 20, 2020, E*Trade shareholders will receive 1.0432 Morgan Stanley shares for each share they own. (AP Photo/Mark Lennihan, File)
February 20, 2020 - 3:35 pm
NEW YORK (AP) — Morgan Stanley, the investment bank for millionaires, big business and megamergers, is buying E-Trade Financial, the online brokerage that encouraged waves of regular investors to get into the market with ads featuring its talking spokesbaby. The roughly $13 billion, all-stock deal...
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FILE - In this Feb. 5, 2020, file photo trader Ashley Lara works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EST on Wednesday, Feb. 19. (AP Photo/Richard Drew, File)
February 20, 2020 - 12:53 am
TOKYO (AP) — Shares were mixed Thursday in Asia after Wall Street recovered to record highs, with the Shanghai benchmark jumping nearly 2% after China's central bank cut interest rates to help ease credit for companies stricken by the virus outbreak centered on the city of Wuhan. Japan's benchmark...
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FILE - In this Feb. 12, 2020, file photo Federal Reserve Chairman Jerome Powell testifies before the Senate Banking Committee on Capitol Hill in Washington. On Wednesday, Feb. 19, the Federal Reserve releases minutes from its January meeting. (AP Photo/Susan Walsh, File)
February 19, 2020 - 2:46 pm
WASHINGTON (AP) — Federal Reserve officials were mostly optimistic about the U.S. and global economies last month, though they noted the risk posed by China’s viral outbreak and said they were ready to keep their benchmark interest rate at its current low level in the coming months. Fed...
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Mark Carney, Governor of the Bank of England attends the Bank of England's Monetary Policy Report news conference in the City of London, Thursday Jan. 30, 2020. The Bank of England on Thursday opted against cutting interest rates after a run of fairly firm economic data in the past week eased fears about a dramatic slowdown in the British economy. (Jonathan Brady/Pool via AP)
February 19, 2020 - 4:36 am
LONDON (AP) — Consumer price inflation in Britain jumped higher in January, official figures showed Wednesday, undermining the case for the central bank to cut interest rates as it had been expected to do. The annual inflation rate rose to 1.8% from 1.3% in December, the national statistics agency...
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FILE - In this May 4, 2018, file photo, a man walks past a branch of HSBC bank in Hong Kong. Europe's biggest bank has reported that its net profit fell 53% in 2019 to $6 billion. London-based HSBC, whose profit is mainly from Asia, said it plans to revamp its U.S. and European business and shed $100 billion in assets to improve its profitability. (AP Photo/Kin Cheung, File)
February 18, 2020 - 3:28 am
HSBC bank said Tuesday it will shed some 35,000 jobs as part of a deep overhaul to focus on faster-growing markets in Asia and better cope with a slew of global uncertainties. The interim chief executive, Noel Quinn, said the number of people employed by the bank would fall from 235,000 to 200,000...
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European Central Bank President Christine Lagarde addresses European Parliament lawmakers during a monetary dialogue meeting at the European Parliament in Brussels, Thursday, Feb. 6, 2020. (AP Photo/Francisco Seco)
Associated Press
February 14, 2020 - 9:59 am
FRANKFURT, Germany (AP) — Imagine a mortgage that pays you the interest, not the other way around. Or a savings account where it's the bank, not the saver, who collects interest. Welcome to the upside-down world of ultra-low and negative interest rates that is taking hold in many parts of the world...
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