Banking and credit

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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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 27, 2017 - 2:55 pm
WASHINGTON (AP) — Jerome Powell's confirmation to be chairman of the Federal Reserve is considered all but certain. Yet when a Senate committee holds a hearing Tuesday on Powell's nomination, one question will hover above the discussions: Will Jerome Powell be Janet Yellen by another name — or a...
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FILE - In this March 26, 2015, file photo, Consumer Financial Protection Bureau Director Richard Cordray speaks during a panel discussion in Richmond, Va. Cordray, the first director of the Consumer Financial Protection Bureau, tendered his resignation Friday, Nov. 24, 2017, and simultaneously named his own successor, setting up the consumer agency for another battle with the Trump White House over control of the powerful federal watchdog. (AP Photo/Steve Helber, File)
November 25, 2017 - 5:30 am
NEW YORK (AP) — The director of the Consumer Financial Protection Bureau resigned Friday and named his own successor, leading to an open conflict with President Donald Trump — who announced a different person as acting head of the agency later in the day. That means there are now effectively two...
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A boy looks over a Black Friday sale item at a J.C. Penney store, Friday, Nov. 24, 2017, in Seattle. Black Friday has morphed from a single day when people got up early to score doorbusters into a whole season of deals, so shoppers may feel less need to be out. (AP Photo/Elaine Thompson)
November 24, 2017 - 6:41 pm
NEW YORK (AP) — The Latest on Black Friday (all times local): 6:30 p.m.: Macy's says it has "fully resolved" problems on Black Friday related to its processing some gift and credit cards. The chain blamed the glitch on "overcapacity" that caused some transactions to take longer to process. It says...
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Lebanese Prime Minister Saad Hariri speaks during a regional banking conference, in Beirut, Lebanon, Thursday, Nov. 23, 2017. Hariri told the conference that the country's stability is his primary concern. The remarks, a day after Hariri suspended his resignation, sought to assure the Hariri's government would keep up the effort to have Lebanon remain a top Mideast destination for finance. (AP Photo/Hussein Malla)
November 23, 2017 - 12:07 pm
BEIRUT (AP) — Lebanese Prime Minister Saad Hariri assured regional bankers on Thursday that Lebanon's stability was his top concern, one day after walking back his shock resignation that threw his country into turmoil. Hariri, speaking at the Arab Banking Conference in Beirut, said his government...
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Federal Reserve Chair Janet Yellen participates in a moderated discussion at New York University's Stern School of Business, Tuesday, Nov. 21, 2017, in New York. (AP Photo/Craig Ruttle)
November 21, 2017 - 8:22 pm
WASHINGTON (AP) — Federal Reserve Chair Janet Yellen said Tuesday that the biggest challenge facing the central bank in coming years will be to craft an interest rate policy that avoids putting the economy through a "boom-bust" cycle. She said that going forward, the Fed will be faced with a...
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FILE - In this Tuesday, Nov. 7, 2017, file photo, Federal Reserve Chair Janet Yellen listens to introductions as she is awarded the Paul H. Douglas Award for Ethics in Government, on Capitol Hill in Washington. Yellen is submitting her resignation from the Federal Reserve board to President Donald Trump, announcing that she will leave the board when her successor Jerome Powell is sworn is as Fed chairman. Yellen’s four-year term as Fed chair ends on Feb. 3, 2018. (AP Photo/Jacquelyn Martin, File)
November 20, 2017 - 6:00 pm
WASHINGTON (AP) — Janet Yellen submitted her resignation from the Federal Reserve board to President Donald Trump on Monday, announcing that she will leave when her successor is sworn in as Fed chairman. In a letter to the president, Yellen said she would her "utmost" to ensure a smooth transition...
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FILE - In this July 28, 2017 file photo, is One Canada Square house, center, that hosts the offices of the European Banking Authority EBA, headquarters in London. Brexit is still well over year away but two cities on Monday, Nov. 20, 2017 will already be celebrating Britain's departure from the European Union. Two major EU agencies currently in London will be given a new home to move to and the two prizes are hotly fought over by most of the other 27 nations. (AP Photo/Frank Augstein, File)
November 20, 2017 - 4:33 pm
BRUSSELS (AP) — The European Union went back to its roots Monday by picking cities from two of its founding nations — France and the Netherlands — to host key agencies that will have move once Britain leaves the bloc in 2019. During voting so tight they were both decided by a lucky draw, EU members...
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FILE - In this July 28, 2017 file photo, is One Canada Square house, center, that hosts the offices of the European Banking Authority EBA, headquarters in London. Brexit is still well over year away but two cities on Monday, Nov. 20, 2017 will already be celebrating Britain's departure from the European Union. Two major EU agencies currently in London will be given a new home to move to and the two prizes are hotly fought over by most of the other 27 nations. (AP Photo/Frank Augstein, File)
November 19, 2017 - 5:30 am
BRUSSELS (AP) — Brexit is still well over year away but two European cities on Monday will already be celebrating Britain's departure from the European Union. Two major EU agencies now in London — the European Medicines Agency and the European Banking Authority — must move to a new EU city because...
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