U.S. DOJ steps up probe into Credit Suisse and UBS
The U.S. Department of Justice has stepped up its probe into Credit Suisse Group and UBS Group AG over suspected compliance failures that allowed Russian clients to evade sanctions, according to people familiar with the situation.
JPMorgan settles lawsuit over Jeffrey Epstein ties
JPMorgan Chase & Co. reached settlements with former executive Jes Staley and the US Virgin Islands over ties to Jeffrey Epstein, as it seeks to end its legal woes over its banking relationship to the deceased pedophile.
Student loan scams surge as payments resume
Current and former college students have been uncertain about student loans for the past few years. Now that loan payments are about to resume after a 3-year pause, scammers are targeting them, claiming to offer help.
Bank of England halts interest rate hikes
The Bank of England stopped its long run of interest rate hikes on Thursday as Britain's economy slowed. It was the first time since December 2021 the bank didn't raise borrowing costs.
Federal Reserve expected to halt interest rate hikes
After raising interest rates more than a dozen times over the past year and a half, officials with the U.S. Federal Reserve are expected to hold off on yet another rate hike when they meet again Wednesday.Over the past 18 months, interes...
Student loan repayments set to restart in October
Federal student loan borrowers will have to begin repaying their loans in October for the first time since the pandemic pause.
Public confidence in Bank of England hits new low
A Bank of England survey of household attitudes finds that UK public confidence in the central bank has plunged to a record low amid the cost-of-living crisis and soaring interest rates. The survey finds only 19% are satisfied with the B...
UK home sales expected to plunge
Home sales in the UK are set to fall to their lowest level in a decade. Alex Morgan explains the impact that stubbornly high mortgage rates are having on the housing market.
Chinese banks enlisted in stimulus effort
China may announce that the big state-owned banks are cutting rates on the majority of the nation's 38.6 trillion yuan ($5.3 trillion) of existing mortgages, according to people familiar with the matter. The reductions will only affect l...
FDIC to boost oversight of midsize lenders
The Federal Deposit Insurance Corp. unveiled a proposal for long-term debt requirements for midsize lenders. The proposal would require midsize banks to be better prepared for potential failures to ensure the institutions can be dissolve...
U.S. mortgage rates hit 22 year high
U.S. mortgage rates reached 7.23% on Thursday, up 2 percentage points from this time last year, making it the highest level since 2001. Mortgage rates have spiked during the Federal Reserve's historic inflation-curbing campaign, making t...
China eases mortgage rules in bid to boost economy
China is further easing its mortgage policies in an effort to halt a slump in the residential property market by allowing more people to be recognized as first-time homebuyers.
IMF: Monetary Policy to Diverge After Inflation Fight
International Monetary Fund Managing Director Kristalina Georgieva says central banks must carefully access data going forward as she expects "some divergence in policy approaches" and explains the inflationary effects of fragmentation w...
SEC imposes new rules on institutional investors
Hedge funds and private equity firms face new requirements to disclose fees and restrictions on giving investors special treatment under sweeping rules the US Securities and Exchange Commission plans to impose on Wednesday. The five-memb...
Lebanese schools risk closure amid economic crisis
Lebanon’s cash-strapped government says it has secured only a third of the $150m needed for the coming school year. The education sector is suffering as a result of failed policies and a deep economic crisis.
China Pushes Banks to Boost Lending
China has renewed its push to get banks to offer more loans to support the economy. Officials are also urging lenders to make adjustments to home mortgages.
Federal Student Loans repayments set to restart
Millions of Americans across the country are preparing for federal student loan repayments to start again this fall after nearly a three-year hiatus because of COVID-19. But that additional financial burden is leaving borrowers worried a...
Russians believe Ruble's weakness to be temporary
Russian rouble is in free fall against the dollar -- again. It hit its weakest point in the past 17 moths, falling to almost 102 per US dollar. Russian Central Bank is under pressure as Kremlin wants a stong rouble. But Moscovites think ...
British muslims say "debanking" is ruining lives
For Muslim communities in Britain, accessing financial services can prove especially difficult. From delays with applying and problems passing screening checks, to sudden debanking without an explanation. Aisha S Gani reports.
Russia raises rates to halt the crash of the Ruble
Russia's central bank announced an emergency rate hike to try and stop the ruble from crashing. Tim Ash of RBC Blue Bay Asset Management wasn't surprised and says rate hikes won't solve Russia's economic problems.
Now wanted, Lebanon’s central bank head steps down
Riad Salameh’s term as governor of Lebanon’s central bank is coming to an end after 30 years amid charges at home and abroad of money laundering, fraud and embezzling public funds. As the 73-year-old’s term ends on Monday, Lebanon’s fina...
Payment app scams are surging, report says
A new report says scammers are taking advantage of people using apps like Venmo, Apple Pay, and Zelle. University of San Diego finance professor Dan Roccato has more on to send cash safely.
Heat wave sparks insurance crisis
Four major insurance firms in Florida and a number in California say they're not selling homeowners insurance at the same low rates they used to due to the record heat wave. FOX News Senior Correspondent William La Jeunesse has more.
PPP loan fraud drove up home prices
Consumer Reporter Heather Sullivan shares how scammers drive up home prices.
What a global soft landing could mean for equities
Bank of America's latest Global Fund Manager survey finds investors increasingly betting on a soft landing for the global economy. Ksenia Galouchko examines what this could mean for equity markets on Bloomberg Television.
JPMorgan Q2 revenues beat expectations
JPMorgan Chase & Co. reported second-quarter results that topped expectations on investment banking revenue and FICC sales and trading revenue. Sonali Basak and Jonathan Ferro examine the numbers on Bloomberg Television.
Saudi sovereign fund loses $11 billion
Saudi Arabia's sovereign wealth fund lost $11 billion on its investments last year as tumbling global stock and bond prices impacted its holdings, compared to a $19 billion profit in 2021.
Bank of Canada raises key interest rate to 5%
The Bank of Canada raised its overnight lending rate by 25 basis points to 5% on Wednesday in Ottawa. The move brings benchmark borrowing costs to their highest in 22 years. Amber Kanwar reports on BNN Bloomberg.
New Zealand keeps interest rates unchanged
New Zealand's central bank kept interest rates unchanged for the first time in almost two years amid signs that the weaker economy is slowing inflation.