Asia Markets Join Global Stock Plunge
Asian markets plunged on Tuesday as investors dumped stocks following heavy falls in the US in anticipation of higher interest rates. Japan’s Nikkei 225 index suffered its biggest one-day point...
Tag: Great Recession in the United States
Stock Markets Buoyed Before Fed Update
World stock markets climbed Wednesday, with all eyes on the Federal Reserve's US interest rate decision as corporate America pushed Wall Street to new record highs. New York trading was off to a...
US Fed Approves Large Bank Investor Payout Plans
The Federal Reserve gave the green light on Wednesday to plans by all 34 large banks seeking to provide big payouts to shareholders after the firms passed the annual stress tests. It is the first...
GM Reaches Settlement Over Faulty Ignition Switches
US auto giant General Motors has reached a settlement with hundreds of car owners in a lawsuit over faulty ignition switches linked to 100 deaths, the company's lawyers said Friday. In a letter to a...
Major US Banks Would Withstand Recession
The largest US banks would withstand a severe recession and still be able to lend to American households and businesses, the Federal Reserve announced Thursday. The results of the first part of the...
Trump Administration Unveils Plan To Defang Consumer Watchdog
The Trump administration has said it wants to ease oversight of smaller banks and curb the Consumer Financial Protection Bureau's powers. The report from the Treasury Department outlined...
Democrats Say Dodd-Frank Repeal Is ‘wrong Choice’
Democrats are slamming a Republican bid to dismantle financial rules put in place after the 2008 crisis as the "wrong choice" for the country. House Republicans approved a sweeping measure on...
Political Risk Weighs On European Stocks
European stocks slid on Tuesday as political risk once again returned to the fore with Italy nearing a deal for early elections and a fresh game of chicken over Greece's bailout keeping investors on...
Fed Says 30% of US Adults Face Financial Strain
Nearly one-third of US adults face financial difficulties or are "just getting by," despite a slight improvement in well-being in the overall population, according to Federal Reserve report released...
US Senate Confirms Jay Clayton As New SEC Chief
The US Senate confirmed attorney Jay Clayton as the new head of the Securities and Exchange Commission tasked with regulating Wall Street and America's financial sector. Some Democrats joined...
US Supreme Court Blocks GM Appeal On Defective Ignitions
The US Supreme Court on Monday turned away an appeal by auto giant General Motors of potentially billions of dollars in consumer claims over faulty ignition switches. The top court without comment...
Small US Businesses Face Financing Challenges
Small US businesses are key sources of jobs, but only 40 percent last year received the full amount of private financing they sought, according to a Federal Reserve survey released Tuesday. The...
Activist Targets GM Share Structure, Board
Investor David Einhorn unveiled Tuesday a proposal Tuesday to try to boost General Motors share price by creating two classes of stock, signaling a possible battle at the carmaker's annual meeting....
Peugeot To Buy GM’s Opel, Creating 2nd-Largest European Car Maker
General Motors Co. is selling its loss-making European car business - including Germany's Opel and British brand Vauxhall - to French automaker PSA group. The 2.2 billion euro ($2.33 billion) deal...
Trump To Meet With U.S. Community Bankers On Regulatory Costs
President Donald Trump will meet with Main Street community bankers on Thursday to learn more about their difficulties in complying with the tougher Dodd-Frank financial regulations enacted after the...
GM Eyes Autonomous Future As It Sells Opel
The move by US auto giant General Motors to offload money-losing European brand Opel marks its latest effort to focus on more profitable markets and autonomous driving technology. The largest US...
Government Engages Banks On Cheap Credit
Government has begun informal talks with key financial institutions on how to reduce the cost of credit and make same available to the private sector to spur growth, Business Development Minister,...
‘Significant Uncertainty’ About Fiscal Policy Under Trump
U. S. Federal Reserve Vice Chair Stanley Fischer said there was significant uncertainty about U.S. fiscal policy under the Trump administration, but the Fed would be strict in meeting targets of...
Trump Ignites Political Fight Over U.S. Banking Law Reforms
U. S. President Donald Trump on Friday ordered reviews of major banking rules that were put in place after the 2008 financial crisis, drawing fire from Democrats who said his order lacked substance...
The African Centre for Energy Policy (ACEP) has expressed worry about moves to repeal the rules on the Dodd Frank Act by the US government. The existing Act requires US companies abroad to disclose...