Finance

Christine Lagarde is resigning as managing director of the International Monetary Fund in light of her nomination to be the next president of the European Central Bank. Lagarde has already given up her day-to-day duties as head of the IMF, and the international lending agency has named a top deputy, David Lipton, as acting managing […]

Banking giant JPMorgan Chase & Co. said Tuesday that its second quarter profits grew by 16% from a year ago, helped by lower taxes and the ability to charge businesses and consumers more to borrow money. The nation’s largest bank by assets said Tuesday that it earned $9.65 billion, or $2.82 per share, up from

NEW YORK (AP) — Goldman Sachs Group Inc. says second quarter profit fell to $2.42 billion from $2.57 billion a year ago. The company, based in New York, said it had earnings of $5.81 per share, down from $5.98 per share. The results still exceeded Wall Street expectations. The average estimate of six analysts surveyed

Asian shares were little changed and mixed in quiet trading Tuesday amid a lack of fresh market-moving news as investors looked ahead to earnings season. Japan’s benchmark Nikkei 225 lost 0.6% to 21,546.25 in afternoon trading. Australia’s S&P/ASX 200 lost nearly 0.1% to 6,646.40. South Korea’s Kospi added 0.3% to 2,089.34 and Hong Kong’s Hang

Colonial-era Korean laborers are seeking a court’s approval for the sales of local assets of their former Japanese employer after it refused to comply with a court order to compensate them for forced labor decades ago. The development comes amid growing tensions between South Korea and Japan. Tokyo recently tightened controls on high-tech exports to

Do Ms. Lagarde and Mr. Draghi think alike? Here’s a quick read on what they say: On weak inflation Mr. Draghi, June 18, 2019: In the absence of improvement, such that the sustained return of inflation to our aim is threatened, additional stimulus will be required. Ms. Lagarde, April 2, 2019: Monetary policy should remain

Unfortunately, rising markets aren’t necessarily great indicators of a healthy economy. After Jerome H. Powell, the Federal Reserve chair, suggested this month that the Fed would cut interest rates, the stock market hit new highs. That buoyed investments, but signs of slowing economic growth persisted, as did the fear that it may be too late

The market for small businesses cooled for the third straight quarter during the spring as tariffs from the trade war with China made some sellers and buyers uneasy about making a deal. That report comes from BizBuySell.com, an online marketplace for small companies that counted 2,444 transactions reported by business brokers from April through June,

Stocks edged lower in afternoon trading Monday on Wall Street as a decline in banks offset solid gains in technology companies. The losses follow record high finishes for every major stock index last week. The S&P 500 also pushed above 3,000 for the first time. JPMorgan and Bank of America led banks lower as the

NEW YORK, July 15 (Reuters) – A U.S. prosecutor on Monday said Jeffrey Epstein, the American financier charged with sex trafficking underage girls, poses an “extraordinary risk of flight” and danger to the community and must remain in jail until his trial. U.S. District Judge Richard Berman, who is considering whether Epstein should remain in