Central banking

A special gong is prepared for the launch of the SSE STAR Market in the hall of Shanghai Securities Exchange in Shanghai, China, Monday, July 22, 2019. Trading started Monday on a Chinese stock market for high-tech companies that play a key role in official development plans that are straining relations with Washington. (Chinatopix via AP)
July 22, 2019 - 4:07 am
TOKYO (AP) — Global shares were mostly lower Monday, tracking losses on Wall Street, though a newly launched technology stocks market in Shanghai soared with its trading debut. France's CAC 40 edged 0.2% higher to 5,562.84, while Germany's DAX also gained 0.2% to 12,291.87. Britain's FTSE 100...
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A special gong is prepared for the launch of the SSE STAR Market in the hall of Shanghai Securities Exchange in Shanghai, China, Monday, July 22, 2019. Trading started Monday on a Chinese stock market for high-tech companies that play a key role in official development plans that are straining relations with Washington. (Chinatopix via AP)
July 22, 2019 - 12:29 am
TOKYO (AP) — Asian shares were mostly lower Monday, tracking losses on Wall Street, though a newly launched technology stocks market in Shanghai soared with its trading debut. Prices of the 25 companies listed on the Shanghai Stock Exchange's STAR Market more than doubled, with one company, Anji...
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Trader Fred Reimer works on the floor of the New York Stock Exchange, Friday, July 19, 2019. U.S. stocks moved broadly higher in early trading on Wall Street Friday and chipped away at the week's losses. (AP Photo/Richard Drew)
July 19, 2019 - 1:06 pm
NEW YORK (AP) — U.S. stocks gave up early gains and moved sideways in afternoon trading on Wall Street Friday. Markets have been volatile throughout the week as investors assess the latest mixed set of corporate earnings reports. The S&P 500 closed at a record high on Monday and then wobbled...
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A Chinese man monitors stock prices at a brokerage in Beijing on Friday, July 19, 2019. Asian shares rebounded Friday on hopes for progress in trade talks between China and the U.S., extending overnight gains on Wall Street. (AP Photo/Ng Han Guan)
July 19, 2019 - 4:04 am
BANGKOK (AP) — Shares powered ahead in Europe and Asia on Friday, helped by for progress in trade talks between China and the U.S. and by expectations that the U.S. central bank will cut interest rates soon. Britain's FTSE 100 added 0.6% to 7,538.01 and the CAC 40 in Paris rose 0.8% to 5,593.98. In...
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FILE - This June 13, 2019, file photo shows a new home is for sale in Mechanicsville, Va. On Thursday, July 18, Freddie Mac reports on this week's average U.S. mortgage rates. (AP Photo/Steve Helber, File)
July 18, 2019 - 12:29 pm
WASHINGTON (AP) — U.S. long-term mortgage rates rose this week after three weeks of holding steady, tipped higher by expectations that the Federal Reserve could reduce interest rates soon. Mortgage buyer Freddie Mac said Thursday the average rate on the benchmark 30-year mortgage increased to 3.81...
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Bank of Korea Gov. Lee Ju-yeol speaks during a press conference in Seoul, South Korea, Thursday, July 18, 2019. South Korea's central bank on Thursday cut its policy rate for the first time in three years to combat a faltering economy that faces further risks from a heated trade dispute with Japan. (AP Photo/Ahn Young-joon)
July 18, 2019 - 2:25 am
SEOUL, South Korea (AP) — South Korea's central bank on Thursday cut its policy rate for the first time in three years to shore up growth threatened by a trade dispute with Japan. The Bank of Korea lowered its key interest rate by a quarter percentage point to 1.50% following a meeting of its...
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U.S. Federal Reserve Chairman Jerome Powell speaks during a dinner hosted by the Bank of France in Paris, Tuesday, July 16, 2019. Finance officials from the Group of Seven rich democracies will weigh risks from new digital currencies and debate how to tax U.S. tech companies like Google and Amazon when they meet in the Paris suburb of Chantilly tomorrow. (AP Photo/Michel Euler)
July 16, 2019 - 1:53 pm
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell said Tuesday that the 2008 financial crisis accelerated major changes in the U.S. and global economies, leading to slower growth, lower inflation and lower interest rates. Delivering remarks to a Paris economic conference, Powell said that...
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Treasury Secretary Steve Mnuchin speaks during a news briefing at the White House, in Washington, Monday, July 15, 2019. (AP Photo/Carolyn Kaster)
July 15, 2019 - 5:23 pm
WASHINGTON (AP) — The Trump administration came out strongly Monday against Facebook's ambitious plan to create a new digital currency, as the Treasury chief warned it could be used for illicit activity such as money laundering, human trafficking and financing terrorism. Treasury Secretary Steven...
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FILE - In this July 1, 2019, file photo trader James Riley works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Monday, July 15. (AP Photo/Richard Drew, File)
July 15, 2019 - 9:22 am
NEW YORK (AP) — Stocks edged lower in early 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 index also pushed above 3,000 for the first time. Citi led banks...
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FILE - In this Feb. 8, 2019, file photo the logo for Citigroup appears above a trading post on the floor of the New York Stock Exchange. On Monday, July 15, 2019, Citigroup Inc. reports financial results. (AP Photo/Richard Drew, File)
July 15, 2019 - 8:09 am
NEW YORK (AP) — Banking conglomerate Citigroup said its second quarter profits rose by 7% from a year ago, helped by higher interest rates, a lower tax rate and a strong economy. Citigroup is the first of the big Wall Street banks to report results this week. All the major banks are expected to...
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