Banking and credit

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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FILE - This Feb. 5, 2018, file photo shows the seal of the Board of Governors of the United States Federal Reserve System at the Marriner S. Eccles Federal Reserve Board Building in Washington. Judy Shelton, President Donald Trump's nominee to the Federal Reserve touted her credentials in written testimony Thursday, Feb. 13, 2020, and said she would “work collegially” if approved. She will likely face tough questioning by the Senate Banking Committee Thursday, which is considering her nomination. (AP Photo/Andrew Harnik, File)
February 13, 2020 - 2:17 pm
WASHINGTON (AP) — One of President Donald Trump's nominees for the Federal Reserve came under sharp questioning Thursday from senators over her unorthodox economic views, including from two Republicans whose doubts about her nomination could imperil it. The nominee, Judy Shelton, sought to make her...
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Senate Banking Committee Chairman Sen. Mike Crapo, R-Idaho, left, talks with ranking member Sen. Sherrod Brown, D-Ohio, right, during a hearing with Federal Reserve Chairman Jerome Powell on Capitol Hill in Washington, Wednesday, Feb. 12, 2020. (AP Photo/Susan Walsh)
February 12, 2020 - 11:01 pm
WASHINGTON (AP) — One of President Donald Trump's nominees for the Federal Reserve will likely face skeptical questioning from a Senate committee Thursday over her unconventional economic views. Trump has nominated Judy Shelton for the Fed's Board of Governors, a position with significant influence...
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FILE - In this Feb. 3, 2020, photo, Democratic presidential candidate and former New York City Mayor Michael Bloomberg, right, talks with supporters during a campaign stop in Sacramento, Calif. (AP Photo/Rich Pedroncelli)
February 12, 2020 - 8:13 pm
WASHINGTON (AP) — At the height of the 2008 economic collapse, then-New York Mayor Michael Bloomberg said the elimination of a discriminatory housing practice known as “redlining” was responsible for instigating the meltdown. “It all started back when there was a lot of pressure on banks to make...
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Members of political parties and social movements protest the visit of an International Monetary Fund (IMF) delegation, one with a sign that reads in Spanish "Get out of Argentina IMF. No to the debt payment," in Buenos Aires, Argentina, Wednesday, Feb. 12, 2020. Argentina announced Tuesday that it will delay paying principal on a peso-denominated bond that had been due this week while it works on restructuring an overall debt it says is unpayable at a time of economic hardship. (AP Photo/Gustavo Garello)
February 12, 2020 - 2:04 pm
BUENOS AIRES, Argentina (AP) — Argentina has been here before: recession, growing poverty, high inflation, billions of dollars in debt, a looming deadline for repayment and simmering anger toward the International Monetary Fund. This is a big week for one of Latin America's biggest economies, which...
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A man walks past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Wednesday, Feb. 12, 2020. Asian shares were higher Wednesday, although the outbreak of a new virus in the region continued to weigh on investor sentiments. (AP Photo/Kin Cheung)
February 12, 2020 - 2:37 am
TOKYO (AP) — Global shares were higher Wednesday, although the outbreak of a new virus, mostly in China, continued to weigh on investor sentiments. France's CAC 40 added 0.1% in early trading to 6,063.26. Germany's DAX was up 0.3% at 13,667.35. Britain's FTSE 100 inched up 0.1% to 7,506.66. U.S...
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February 12, 2020 - 2:16 am
NICOSIA, Cyprus (AP) — Cyprus needs to step up its fight against the laundering of illicit cash generated outside the east Mediterranean island nation, a leading European financial watchdog said Wednesday. Moneyval, which is part of the Council of Europe, the continent's leading human rights...
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People walk past an electronic board showing Hong Kong share index outside a local bank in Hong Kong, Wednesday, Feb. 12, 2020. Asian shares were higher Wednesday, although the outbreak of a new virus in the region continued to weigh on investor sentiments. (AP Photo/Kin Cheung)
February 11, 2020 - 9:36 pm
TOKYO (AP) — Asian shares were higher Wednesday, although the outbreak of a new virus in the region continued to weigh on investor sentiments. Japan's Nikkei 225 rose 0.5% in morning trading to 23,813.14. Australia's S&P/ASX 200 gained 0.6% to 7,094.00. Hong Kong's Hang Seng added 0.7% to 27,...
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FILE - In this Jan. 29, 2020 file photo Federal Reserve Chair Jerome Powell speaks during a news conference following the Federal Open Market Committee meeting in Washington. The Federal Reserve believes that downside risks to the U.S. economy have lessened with the easing of trade tensions and better prospects for global growth. But officials note a concern that possible spillovers from a deadly virus in China represent a new threat. (AP Photo/Manuel Balce Ceneta, File)
February 11, 2020 - 11:07 am
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Tuesday the U.S. economy appears durable with steady growth and unemployment near a half-century low but faces some risk from the broadening viral outbreak that began in China. Giving the Fed’s semiannual monetary report to Congress,...
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