Finance

Ordinary Americans have an opportunity — really, an obligation — to force this debate to occur. “This is now a big enough issue that I think people should actually become politically active and let their congressmen and senators know how they feel about this program and how they think the financial shortfalls should be filled,” […]

All 18 of the nation’s largest and most complex banks are strong enough to withstand a severe economic downturn and would be able to stay in business without collapsing, the Federal Reserve said Friday. The results are from the first round of the central bank’s annual stress tests, which showed the 18 big banks have

Sally Stapleton, an award-winning editor, photojournalist and newsroom leader, has been tapped to direct global religion coverage for The Associated Press, overseeing a new team that will report on faith and its influence throughout the world. The appointment was announced Friday by Sarah Nordgren, AP’s deputy managing editor for sports, business, entertainment, health, science and

Major U.S. stock indexes moved mostly lower in afternoon trading Friday as a weeklong rally fizzled out a day after the market hit an all-time high. The benchmark S&P 500 index was still on track to notch its third straight weekly gain following four consecutive weekly losses. Trading was muted as investors took a breather

Federal Reserve officials on Friday outlined the case for an interest-rate cut, making clear in their first public remarks since the central bank chose to leave policy unchanged this week that inflation and rising global risks are weighing heavily on their minds. Neel Kashkari, the president of the Federal Reserve Bank of Minneapolis, said in

The latest on developments in financial markets (all times local): 11:45 a.m. A weeklong rally on the stock market is fizzling out as major U.S. indexes wobble between small gains and losses. A day earlier, the S&P 500 index reached a record closing high. The Dow Jones Industrial Average was edging closer to its own

The bureau published a notice in the Federal Register and is seeking public comments by July 1. It’s unclear whether the bureau would support changing or eliminating the overdraft rule. In an emailed statement, the bureau said that during the review, it must seek information to see whether it could “minimize the economic impact of

U.S. home sales jumped 2.5% in May, as lower mortgage rates appeared to help buyers overcome affordability challenges. The National Association of Realtors said Friday that existing homes sold at a seasonally adjusted annual rate of 5.34 million last month, up from 5.21 million in April. The recent gains likely came from reduced borrowing costs

HONG KONG, June 21 (Reuters) – Thousands dressed in black blocked Hong Kong roads and surrounded police headquarters on Friday in the latest wave of demonstrations over an extradition bill that has triggered violent protests and plunged the Chinese-ruled city into crisis. Demonstrators, mostly students wearing hard hats, goggles and face masks, set up roadblocks

Shares opened higher in Europe on Friday after mostly declining in Asia despite the S&P 500 index’s record high overnight close. Germany’s DAX added 0.4% to 12,400.10 while the CAC 40 in Paris climbed 0.6% to 5,566.15. Britain’s FTSE 100 rose 0.3% to 7,445.33. U.S. shares looked set for a tepid open with the future