Banking and credit

FILE - In this Thursday, April 27, 2017 file photo, the President of the European Central Bank Mario Draghi speaks during a news conference in Frankfurt, Germany. A key global forum of banking regulators has completed a new set of rules aimed at keeping bad banks from needing taxpayer bailouts and hurting the economy, it was reported on Thursday, Dec. 7, 2017. Under the latest rules, banks must keep at least 7X percent of the capital buffers under their own internal risk calculations, compared to a stricter measure used by regulators.(AP Photo/Michael Probst, File)
December 07, 2017 - 11:28 am
FRANKFURT, Germany (AP) — A global forum of banking regulators has finished its years-long work on rules that aim to keep weak banks from needing taxpayer bailouts and setting off financial crises like the one that led to the Great Recession. The oversight board of the Basel Committee on Banking...
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In this Tuesday, Nov. 28, 2017, photo, Jerome Powell, President Donald Trump's nominee for chairman of the Federal Reserve, testifies during his confirmation hearing before the Senate Banking, Housing, and Urban Affairs Committee on Capitol Hill in Washington. On Tuesday, Dec. 5, 2017, the Senate Banking Committee approved Powell to be the next chairman of the Federal Reserve. (AP Photo/Carolyn Kaster)
December 05, 2017 - 11:31 am
WASHINGTON (AP) — The Senate Banking Committee on Tuesday approved President Donald Trump's selection of Jerome Powell to be the next chairman of the Federal Reserve. The committee vote was 22-1 with all Republicans and every Democrat except Sen. Elizabeth Warren, D-Mass., supporting the nomination...
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December 02, 2017 - 6:51 pm
The technology publication Recode is reporting that Visa fired a high-profile executive for behavior that "violated" the credit card company's policy. Recode reported that Jim McCarthy's departure was announced in an internal memo Friday. As executive vice president of innovation and strategic...
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FILE - In this Feb. 9, 2011, file photo, people walk past a Commonwealth Bank branch in Sydney, Australia. The Australian government bowed to growing pressure on Thursday, Nov. 30, 2017 by announcing a high-level inquiry into misbehavior in Australia's financial sector. (AP Photo/Rick Rycroft)
November 30, 2017 - 4:56 am
CANBERRA, Australia (AP) — The Australian government bowed to growing pressure by announcing Thursday a high-level inquiry into misbehavior in Australia's financial sector. A royal commission — the highest form of investigation in Australia — will review the banking, pension and financial services...
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Workers carry materials at a construction site in Seoul, South Korea, Thursday, Nov. 30, 2017. South Korea's central bank raised interest rates from a record low Thursday in its first increase since June 2011 in defiance of North Korean threats as Asia's fourth-largest economy exceeds expectations on robust exports. (AP Photo/Lee Jin-man)
November 29, 2017 - 10:23 pm
SEOUL, South Korea (AP) — South Korea's central bank raised interest rates from a record low Thursday in the first such increase since June 2011. Despite the threat from North Korea, robust exports are driving faster than expected growth in Asia's fourth-largest economy. Convening one day after...
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November 29, 2017 - 9:10 pm
WASHINGTON (AP) — President Donald Trump intends to nominate Marvin Goodfriend, a Carnegie Mellon University economics professor, for a seat on the Federal Reserve Board, the latest step in the administration's effort to put its stamp on the nation's central bank. The White House announced late...
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An aircraft passes over the banking district as it approaches the airport in Frankfurt, Germany, early Monday, Nov. 27, 2017. (AP Photo/Michael Probst)
November 29, 2017 - 5:54 am
FRANKFURT, Germany (AP) — The European Central Bank says broad-based economic growth is keeping banks and markets stable in the 19-country eurozone — but warned that increased risk-taking by investors could mean trouble down the road. The ECB made its comments Wednesday in its twice-yearly...
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This photo shows the federal courthouse in New York, Monday, Nov. 27, 2017. Jury selection is scheduled to begin in the trial of Halkbank Deputy CEO Mehmet Hakan Atilla, a top executive for a state-run bank in Turkey, accused of conspiring to help Iran evade economic sanctions. (AP Photo/Seth Wenig)
November 28, 2017 - 3:38 pm
NEW YORK (AP) — The Latest on the Iran sanctions trial of a Turkish banker (all times local): 3:30 p.m. Court papers show Turkish gold trader Reza Zarra pleaded guilty last month to bank fraud, money laundering and other charges as part of a deal to testify at a New York trial. The papers were...
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November 28, 2017 - 3:59 am
LONDON (AP) — Britain's biggest banks can withstand a series of economic shocks that would be even more severe than what they experienced during the global financial crisis, the Bank of England said Tuesday. And while concluding that the banks can deal with a "disorderly" Brexit that would see...
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FILE - In this Thursday, Nov. 2, 2017, file photo, Federal Reserve board member Jerome Powell stands as President Donald Trump announces him as his nominee for the next chair of the Federal Reserve in the Rose Garden of the White House in Washington. The Senate Banking Committee has scheduled Powell's confirmation hearing for Nov. 28. (AP Photo/Alex Brandon, File)
November 28, 2017 - 12:37 am
WASHINGTON (AP) — Jerome Powell says that if confirmed as the next chairman of the Federal Reserve, he expects the Fed to continue raising interest rates gradually to support its twin goals of maximum employment and stable prices. Under his leadership, Powell also says, the Fed would consider ways...
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