Banking and credit

FILE - In this Wednesday, Jan. 1, 2014 file photo, Gov. of Bank of Latvia Ilmars Rimsevics holds a euro note in Riga, Lavia. The Latvian official on the European Central Bank’s top policymaking council, Ilmars Rimsevics, will miss a scheduled meeting Wednesday Feb. 21, 2018, amid an investigation into reported corruption. (AP Photo/Roman Koksarov, File)
February 22, 2018 - 11:49 am
A corruption scandal rocking euro member state Latvia underscores the limits of Europe's banking supervision and is likely to lead to reforms, experts said Thursday. Latvia, which is one of the 19 countries using the euro, has launched an investigation into corruption against its top banking chief...
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FILE- In this Oct. 2, 2014, file photo, the Wall Street subway stop on Broadway, in New York's Financial District. The U.S. stock market opens at 9:30 a.m. EST on Wednesday, Feb. 21, 2018. (AP Photo/Richard Drew, File)
February 21, 2018 - 3:58 pm
Stocks indexes pared early gains Wednesday and were mostly lower in afternoon trading as investors reacted to a late-afternoon surge in bond yields. Bond prices fell, sending the yield on the U.S. 10-year Treasury note to its highest level in four years, following newly released minutes from the...
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FILE- In this Feb. 5, 2018, file photo, the seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington. The Federal Reserve releases minutes from its January meeting on Wednesday, Feb. 21. (AP Photo/Andrew Harnik, File)
February 21, 2018 - 3:15 pm
WASHINGTON (AP) — Federal Reserve officials at their January meeting believed that a brightening global economic picture and the effects of recently passed tax cuts had raised the prospect for solid growth and continued interest rate increases. The minutes of the Fed's Jan. 30-31 discussions showed...
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FILE - In this Sunday, July 13, 2007 file photo, Governor of the Bank of Latvia Ilmars Rimsevics speaks during an interview with The Associated Press in Riga, Latvia. Latvia's state broadcaster said Saturday Feb. 18, 2018, that the national anti-corruption agency raided the office and a property of the head of the country's central bank, Ilmars Rimsevics. (AP Photo/Roman Koksarov, File)
February 20, 2018 - 6:01 pm
LONDON (AP) — Latvia's official on the European Central Bank's top policymaking council rejected calls to resign Tuesday amid suspicions of bribery and an Associated Press report on allegations of extortion and connections to money laundering. Ilmars Rimsevics, who was detained Saturday and...
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India's opposition Congress party supporters shout slogansas they burn an effigy of Prime Minister Narendra Modi as they protest against the alleged $1.8 billion bank fraud in Lucknow, India, Tuesday, Feb. 20, 2018. (AP Photo/Rajesh Kumar Singh)
February 20, 2018 - 1:34 pm
NEW DELHI (AP) — India's federal investigating agency on Tuesday arrested another five executives as it swooped down on companies run by two main suspects in an alleged $1.8 billion bank fraud case that continued for six years. Central Bureau of Investigation spokesman Abhished Dayal said the five...
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FILE - In this Sunday, July 13, 2007 file photo, Governor of the Bank of Latvia Ilmars Rimsevics speaks during an interview with The Associated Press in Riga, Latvia. Latvia's state broadcaster said Saturday Feb. 18, 2018, that the national anti-corruption agency raided the office and a property of the head of the country's central bank, Ilmars Rimsevics. (AP Photo/Roman Koksarov, File)
February 18, 2018 - 8:52 am
LONDON (AP) — Latvia's top banking official and key member of the European Central Bank was detained Sunday after being questioned for hours by anti-corruption authorities amid accusations of bribery and money laundering in the nation's financial system. Latvian state TV showed Ilmars Rimsevics...
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FILE- In this Nov. 24, 2017, file photo, a shopper looks over clothing at a J.C. Penney store in Seattle. On Wednesday, Feb. 14, 2018, the Labor Department reports on U.S. consumer prices for January. (AP Photo/Elaine Thompson, File)
February 14, 2018 - 11:59 am
WASHINGTON (AP) — U.S. consumer prices, excluding the volatile food and energy categories, rose 0.3 percent last month. That was the biggest climb in a year and has intensified inflation fears in financial markets. Overall consumer prices rose 0.5 percent in January, the most in four months, the...
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In this Feb. 13, 2018 photo the lights of the skyline of the Frankfurt, Germany, banking district are reflected in the river main after the sun set. (Boris Roessle/dpa via AP)
February 14, 2018 - 6:47 am
FRANKFURT, Germany (AP) — European finance officials are underlining their skepticism toward virtual currencies like bitcoin, saying they are risky for investors and inefficient as a way to pay for things. A top monetary official, Jens Weidmann, said in a speech Wednesday that virtual currencies...
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February 11, 2018 - 7:58 pm
NEW YORK (AP) — Wells Fargo has made missteps in its efforts to make amends to customers who were forced to buy unneeded auto insurance. Bank spokeswoman Catherine Pulley said 38,000 customers received a letter they did not need and that contained no refund. She said the error was due to a coding...
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Trader Robert Arciero works on the floor of the New York Stock Exchange, Friday, Feb. 9, 2018. Wall Street capped a day of wild swings Friday with a late-afternoon rally that reversed steep early losses and sent the Dow Jones industrial average 330 points higher. Even with the rebound, this was the worst week for the market in about two years. (AP Photo/Richard Drew)
February 09, 2018 - 9:07 pm
A late-afternoon rally reversed steep losses for U.S. stocks Friday, lifting the Dow Jones industrial average more than 300 points and capping a turbulent week on Wall Street that left the market with its steepest weekly slide in two years. The big point swings that pummeled stocks reflected a...
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