Banking & Loans News

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Student debt relief could cost $400 billion

President Biden's plan to cancel student loan debt would cost the federal government about $400 billion dollars.

Fox News

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Major banks pay $1.1 billion after WhatsApp probe

Banking giants including Goldman Sachs and Citigroup agreed to pay regulators $1.1 billion in penalties for failing to monitor employees using unauthorized messaging apps. Sri Natarajan has more on...

Bloomberg

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Mortgages Risk Abrupt Closing of UK Housing Market

Jim O'Neill, former economist at Goldman Sachs Group Inc., warns of the potential economic risks the mortgage and housing markets pose in relation to the UK mini-budget announced last week. He spea...

Bloomberg

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Auto insurance rates jump 8% in the U.S.

FOX 26 Consumer Reporter Heather Sullivan has some smart sense on why your auto insurance rate is going on.

Fox News

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British pound in crisis mode

Patrick Honohan, former governor of the Central Bank of Ireland, discusses UK market selloff. He speaks with David Westin on Bloomberg's "Balance of Power."

Bloomberg

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Bank of England won't prop up the pound

The pound resumed its slide against the dollar after Bank of England Governor Andrew Bailey tempered speculation of an emergency rate hike to shore up the battered currency. Bailey says there won't...

Bloomberg

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Pound falls to record lows

The pound has fallen to its lowest level against the U.S. dollar since decimalisation in 1971.

Ticker News

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Britain's new fiscal plan 'reckless' .

Britain's new economic plan to slash taxes and borrow money for programs will rack up a huge amount of new debt, says Jane Foley, head of foreign exchange strategy at Rabobank.

CBC News

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How Will Bank of England Halt Panic Over Pound?

The Bank of England may need to step in with an emergency rate rise to calm market nerves about the government's economic plans, Conservative lawmakers said after the pound tumbled to a record low ...

Bloomberg

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GBP£1 could buy less than US$1 by year end

Nomura's Rochester Sees Pound Below Parity by Year End. Jordan Rochester, G10 FX strategist at Nomura, says the pound will continue its slide against the US dollar without intervention from the Ban...

Bloomberg

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How interest rate hike will impact consumers

This week, the Fed raised interest rates for a 5th time this year to fight inflation up another three-quarters of a point. That means credit cards, mortgages and car loans are about to cost you more.

Fox News

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Price volatility hindering M&A activity

Cary Kochman, Citi's global co-head of M&A, discusses the global M&A landscape on "Bloomberg Markets: European Close." Kochman says he sees M&A activity continuing at pace and expects more corporat...

Bloomberg

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US Federal Reserve hikes rates to fight inflation

Intensifying its fight against high inflation, the US Federal Reserve raised its key interest rate by substantial three-quarters of a point for a third straight time and signalled more large rate h...

EuroNews

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Biggest rise in rates since Black Friday 30 years ago

The Bank of England raised its official rate by 50-basis-point increase in rates, with the move to 2.25% on Thursday backed by five of the nine-member Monetary Policy Committee.

Bloomberg

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Trump and adult children sued for fraud in New York

New York's attorney general sued former President Donald Trump and his company on Wednesday, alleging business fraud involving some of their most prized assets, including properties in Manhattan, C...

Newsy

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Citigroup CEO sees tough times ahead for consumers

Citigroup CEO Jane Fraser says if interest rates remain high, they see tough times ahead for the consumer. She spoke before the House Financial Services Committee hearing on banking accountability.

Bloomberg

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Expert discusses impact of expected rate hike

Morgan Stanley's George Noceti discusses the Fed considering interest rate hikes

Fox News

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Better Business Bureau warns of payday loan scams

A new BBB study finds payday loan companies and companies posing as legitimate companies still rake in millions of dollars despite efforts from advocates and authorities to protect consumers. Heath...

Fox News

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The Lebanese 'heroes' holding up banks

Banks across Lebanon have closed for three days due to security concerns. It follows a series of bank hold ups, with people demaning access to their own savings. Withdrawal limits have been in plac...

Al Jazeera

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We're in a Bear Market

Markets Have Further to Go in Pricing Rate Hikes: Goldman. Higher interest rates + 500 base points, lower share values and high inflation - a likely forecast before trough bottom reached before re...

Bloomberg

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Fed expected to raise rates 75 basis points this week

The FOMC is set to raise interest rates by 75 basis points at its Sept. 20-21 meeting, a third straight hike of that size. So how are traders getting ready? Ira Jersey of Bloomberg Intelligence and...

Bloomberg

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Lebanese banks to close after spate of robberies

Financial institutions in Lebanon are set to close for three days next week. They say they are concerned about security, as the country's economic crisis continues. There were at least five armed r...

Al Jazeera

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People are ‘robbing’ banks in Lebanon to take their own money

Lebanese depositors, including one armed with a hunting rifle, broke into at least four banks Friday to demand their trapped savings, a sign of growing chaos in the small Mediterranean nation amid ...

France 24

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'Nasty Numbers' Ahead for Pound and Euro

Unforseen conseqences of war: US$ pushing world economy under a bus. Jane Foley, Rabobank, predicts "nasty numbers are still to come" for the euro and UK pound, with the US dollar continuing its r...

Bloomberg

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Lebanon: Armed woman, activists join bank robbery

An armed woman and a group of activists have held up banks, in a desperate act to access their own savings. Controls imposed by the government have left citizens unable to withdraw cash - because o...

Al Jazeera

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SWIFT banking to use blockchain in trial

Bloomberg's Sonali Basak joins Emily Chang to discuss how SWIFT, the messaging system used by financial institutions globally to convey instructions on tens of millions of transactions each day, is...

Bloomberg

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Credit card companies to start tracking gun sales

Major credit card companies are reclassifying purchases at gun stores and ammunition shops a change that could pull back the curtain on gun purchases. Visa, American Express and Mastercard will sta...

Newsy

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Buy now, pay later linked to rising debt

A report from the California Department of Financial Protection and Innovation found that 91% of consumer loans taken out in the state in 2020 were from buy now, pay later lenders.But unlike leasin...

Newsy

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'It's going to be strange': Currency, anthem set to change

The death of Queen Elizabeth II, will see a host of changes to some of the everyday items of British life, from banknotes to passports and stamps, as her image and insignia are replaced with those ...

France 24

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Bitcoin Extends Rally as Ethereum Upgrade Looms

Bitcoin continued to build Monday on a rally of around 10% on Sept. 9, as traders await US inflation data and monitor a seminal upgrade of the Ethereum blockchain. Emily Nicolle reports on Bloomber...

Bloomberg