Banking & Finance
The latest coverage of the banking and financial sectors.
Wall Street starts week with a bang after Trump calls off strikes
U.S. stocks surged Monday after President Trump called off massive strikes on Iran, renewing hopes for a diplomatic deal.
‘Donald Trump is right’: Elizabeth Warren looks to president to help her kill U.S. debt limit
Sen. Elizabeth Warren wants to throw out the U.S. debt limit, and she credits President Trump with the idea of canceling one of the only mechanisms that forces Congress to debate government spending and debt, which now stands at $39.8 trillion.
Stocks waver while crude oil prices fall for the first time in a week
Stocks wavered Friday as oil prices slipped for the first time in a week, but Wall Street is still heading for a losing week.
Brent oil’s price briefly tops $100 per barrel, as Tesla and Alphabet drag Wall Street lower
Oil prices are jumping again Thursday as increased fighting in the Middle East threatens to slow the global flow of crude. Wall Street, meanwhile, is sinking with sharp drops for two of its most influential stocks, Alphabet and Tesla.
House approves GOP’s stock trading ban, voter ID bill in mostly partisan vote
House Republicans narrowly passed a GOP priority bill Wednesday to prohibit congressional lawmakers from purchasing publicly traded stocks and require voters to show a photo ID at the polls.
U.S. Attorney’s office announces seizure of over $25M in cryptocurrency tied to global fraud
The U.S. Attorney’s Office for the District of Columbia said Tuesday that it has seized over $25 million in cryptocurrency linked to multiple international fraud investigations.
Trump trade rep says more tariffs are coming as blanket levies expire, Democrats raise cost worries
President Trump will keep tariffs at the center of his economic policy despite legal headwinds and Democratic complaints that levies fuel higher prices, U.S. Trade Representative Jamieson Greer told Congress on Wednesday.
Trump slaps 50% tariffs on new list of Canadian goods in response to boycotts of U.S. alcohol, dairy
President Trump plans to impose 50% tariffs on a variety of Canadian goods, such as hockey sticks and cement, in retaliation for Canada’s treatment of American exports of alcohol, dairy and motor vehicles.
Judge says Paramount and Warner must halt merger for at least two weeks, granting states’ request
A federal judge on Monday ordered Paramount and Warner Bros. Discovery to halt their $81 billion merger for at least two weeks, allowing states that are challenging the deal more time to see their case through in court.
Face the facts: N.J. lawmakers demand biometric checks for online gamblers
Two New Jersey lawmakers have joined the rush to slap regulations on increasingly popular online casinos, sportsbooks and prediction markets.
U.S. Mint releases Liberty Bell-shaped coin for America’s 250th anniversary
The U.S. Mint has released new bell-shaped commemorative coins and a medal on Thursday as part of America’s 250th anniversary celebration.
AI stocks slump again, while oil prices keep rising
Computer chipmakers and other winners of the artificial-intelligence boom are slumping again Thursday and dragging stock markets down worldwide. Oil prices, meanwhile, continue to climb because of the war with Iran.
Trump slaps 25% tariffs on Brazilian products, citing trade practices
The Trump administration said Thursday it will impose 25% tariffs on most Brazilian goods in response to the South American country’s trade practices.
Stocks drift higher on Wall Street as oil prices swing
U.S. stocks are drifting higher Wednesday following strong profit reports from BlackRock and other big companies. The gains came as oil prices swing near their highest levels in a month because of the war with Iran.
Warsh says Fed has ‘no tolerance’ for high inflation but provides no hints on next move
Federal Reserve Chair Kevin Warsh said Tuesday that the Fed will make high inflation “a thing of the past,” yet he provided no signal about the central bank’s next steps.
JPMorgan Chase profit hits $16.9 billion in the second quarter, boosted again by market volatility
JPMorgan Chase said Tuesday that it logged $16.9 billion in second-quarter profit as its equities trading division again took advantage of market volatility triggered by the war in Iran.