Finance

In this article JPM C WFC KBE GS Federal Reserve Jerome Powell testifies during a Senate Banking Committee hearing on “The Quarterly CARES Act Report to Congress” on Capitol Hill in Washington, U.S., December 1, 2020. Susan Walsh | Reuters Bank stocks rose in extended trading on Thursday after the Federal Reserve announced its plan

Darren Westlake, co-founder and CEO of Crowdcube, at a fintech conference in London, on April 12, 2017. Simon Dawson | Bloomberg via Getty Images LONDON — British start-up crowdfunding platforms Crowdcube and Seedrs agreed Thursday to terminate their £140 million ($192 million) merger, a day after regulators raised competition concerns with the deal. The U.K.

Wells Fargo Securities’ Chris Harvey is building a major part of his strategy on a consumer comeback. From hotels to casinos to restaurants, many of this year’s winning trades will involve spending outside the home, the firm’s head of equity strategy predicts. “We really want exposure to the consumer,” Harvey told CNBC’s “Trading Nation” on

Samuel Corum/Bloomberg via Getty Images The IRS had a backlog of almost 12 million paper tax returns from individuals and businesses as of Christmas, according to a report from the Treasury Inspector General for Tax Administration. As a result, many taxpayers may not have gotten refunds owed from last year’s filing season, the watchdog said

Take a look at some of the biggest movers in the premarket: Intel (INTC) – Intel said it would spend $20 billion to build two new plants at existing facilities in Arizona, in an effort to grab more market shares and fill gaps created by a worldwide chip shortage. Intel aims to start production at

Canaccord Genuity’s Tony Dwyer is temporarily dialing back his appetite for stocks. On the one-year anniversary of the Covid-19 bottom, he’s telling investors the market is in “no man’s land.” “We’re in this period where the Russell 1000 growth mega cap stocks aren’t oversold anymore and the cyclical or economic recovery theme isn’t extreme overbought

The Federal Reserve has taken another step forward in efforts to ensure that the financial system is protected against climate risks. As the central bank turns its attention increasingly toward the matter, the Fed has created a Financial Stability Climate Committee and a Supervision Climate Committee. The panels will focus on “the potential for complex

Take a look at some of the biggest movers in the premarket: AstraZeneca (AZN) – The drugmaker’s stock fell 2.9% in premarket trading after an independent monitoring board told U.S. health officials that the company may have given incomplete efficacy data from its Covid-19 vaccine trial. The Data Safety Monitoring Board said it wanted AstraZeneca

In this article .IXIC US10Y When rising Treasury yields put pressure on tech stocks, Invesco’s Kristina Hooper is looking to put money to work. Hooper, who oversees $1.3 trillion in assets, predicts the group’s growth potential will ultimately prevail over inflation fears. “Any time we see a tech sell-off, it’s an opportunity to buy some

LaylaBird The U.S. Labor Department launched a website Monday to help Americans report identity fraud linked to unemployment benefits. Unemployment fraud has surged during the Covid pandemic. Much of it is linked to organized crime rings that bought identity information stolen in past data breaches, according to the labor bureau. Criminals use this data to

Take a look at some of the biggest movers in the premarket: AstraZeneca (AZN) – The drugmaker said a U.S. study showed its Covid-19 vaccine had 79% efficacy in preventing symptomatic illness, 100% effectiveness against critical disease and hospitalization, and did not pose a higher risk of blood clots. AstraZeneca shares gained 2.2% in premarket

Jason Lee | Reuters BEIJING — U.S. investors are among the many foreigners looking to profit from China, particularly its bond market. One clear area of interest is in government bonds, where the Chinese 10-year has a yield of over 3.2%. In contrast, the latest rise in U.S. rates has pushed the 10-year Treasury yield

As more companies announce diversity and inclusion measures, Ariel Investments’ co-CEO Mellody Hobson believes there’s a simple way to hold corporations accountable: math. “Math has no opinion — have the math. The only way you can do that is commit to having an annual review of these issues to see where you’re gaining ground, where

Traders work on the floor of the New York Stock Exchange. NYSE Are you confused about what is going on in the markets? Traders sure are. “We all got comfortable thinking Covid was done or manageable, and it may turn out to still be a wild card,” Peter Tchir from Academy Securities told me. ”Nobody wants another

Gas prices are displayed at a Speedway gas station on March 03, 2021 in Martinez, California. Justin Sullivan | Getty Images One of the main reasons Federal Reserve officials don’t fear inflation these days is the belief that they have tools to deploy should it become a problem. Those tools, however, come with a cost,

The Federal Reserve on Friday declined to extend a pandemic-era rule that relaxed the amount of capital banks had to maintain against Treasurys and other holdings, in a move that could upset Wall Street and the bond market. In a brief announcement, the Fed said it would allow a change to the supplementary leverage ratio

Federal Reserve Chair Jerome Powell arrives for a news conference following the Federal Open Market Committee meeting in Washington, December 11, 2019. Joshua Roberts | Reuters Federal Reserve Chairman Jerome Powell reiterated his commitment to an “all-in” approach to the recovery, pledging in a commentary piece for the Wall Street Journal to keep policy loose.

Andrew Harrer | Bloomberg | Getty Images Check out the companies making headlines in midday trading.  Visa — Shares of the payment processor fell 4.7% in midday trading after a report said the Justice Department is investigating whether business practices at the payment processor’s debit-card business is leading to unlawful market dominance. The Wall Street

Take a look at some of the biggest movers in the premarket: Nike (NKE) – Nike came in 14 cents a share above estimates, with quarterly profit of 90 cents per share. The athletic footwear and apparel company’s revenue came in below analysts’ projections, however, and its full-year revenue outlook was also shy of estimates.

U.S. Secretary of State Antony Blinken (2nd R), joined by national security advisor Jake Sullivan (R), speaks while facing Yang Jiechi (2nd L), director of the Central Foreign Affairs Commission Office, and Wang Yi (L), China’s foreign minister at the opening session of U.S.-China talks at the Captain Cook Hotel in Anchorage, Alaska on March