Financial Services

Long shutdown could hurt economy, a short one just 'a blip'

Jan 20, 2018

Economists say a lengthy government shutdown could hurt economy, but a short one would be just 'a blip'

Quarles lays out road map for bank regulations

Jan 19, 2018

Fed's top bank regulator says he wants to focus on efficiency and simplicity in bank rules

American Express posts $1.2 billion loss due to new tax law

Jan 18, 2018

Credit card company American Express posts $1.2 billion loss in the fourth quarter, as the company booked large one-time charges related to the new tax law

Romney mentor, Bain & Co. founder, William Bain Jr. dies

Jan 18, 2018

William Bain Jr., who founded global consulting and private equity businesses that helped drive the career of former Republican presidential nominee Mitt Romney, has died

Morgan Stanley's profits fall 59 percent due to tax bill

Jan 18, 2018

Morgan Stanley's earnings fell 59 percent in the fourth quarter as the investment bank had to book $990 million in charges related to the new tax law.

China says cross-border cash flows hit turning point in '17

Jan 18, 2018

Financial regulators in China say cross-border capital flows hit a turning point in 2017 as foreign currency reserve levels stabilized after two years of declines

Entire operation of federal consumer regulator under review

Jan 17, 2018

Acting director of Consumer Financial Protection Bureau calls for review of entire structure and approach of federal government's consumer watchdog agency

Fed survey finds solid growth and rising wages

Jan 17, 2018

Fed says latest survey finds solid growth nationwide and growing signs of wage gains

Senate committee approves nomination of Powell for Fed chair

Jan 17, 2018

Senate Banking Committee approves nomination of Jerome Powell as Fed chairman for second time

Saudi Arabia to transfer $2 billion after urgent Yemen plea

Jan 17, 2018

Saudi Arabia to transfer $2 billion to Yemen following appeal to save the local currency from 'complete collapse'