UN: Palestinian Authority faces risk of financial collapse

Asia & Pacific 04/29/19, 19:34

The U.N. political chief warned Monday that the worsening Palestinian financial crisis poses a growing risk "of a financial collapse of the Palestinian Authority." Rosemary DiCarlo told the U.N. Security Council that "a sustainable resolution" to the authority's funding crisis is urgently needed. Israel is withholding about $11 million of the roughly ...

Interview: Palestinian PM accuses US of ‘financial war’

Asia & Pacific 04/17/19, 02:20

The new Palestinian prime minister on Tuesday accused the United States of declaring "financial war" on his people and said an American peace plan purported to be in the works will be "born dead." In his first interview with international media since taking office over the weekend, Mohammad Shtayyeh laid out ...

Update: CEOs say big banks more stable since crisis

Business 04/10/19, 08:55

The Latest on the appearance of U.S. bank CEOs before Congress (all times local):9:45 a.m.The early, dominant theme from the CEOs of the nation's biggest banks at Wednesday's Congressional hearing is simple: We're grateful, and we are safer now.All seven heads of the banks have spoken about how they have ...

CEOs of big banks face off with House Democrats

Business 04/10/19, 08:19

The heads of some of the largest banks in the U.S. are appearing in front of Congress Wednesday, for the most significant hearing on the banking industry since Democrats took control of the House.Based on prepared testimony, the chief executives of JPMorgan Chase and Goldman Sachs, along with the CEOs ...

Fed puts forward proposals to modify bank regulations

Business 04/08/19, 14:31

The Federal Reserve on Monday put forward two proposals to modify regulations put in place after the 2008 financial crisis that the banking industry complained were too restrictive. The proposed regulatory changes were approved on a 4-1 vote with Fed board member Lael Brainard opposing the changes. She said they "would ...

Greece limits foreclosure protection after financial crisis

Europe 03/27/19, 11:23

Lawmakers in Greece have begun debating tougher regulations to deal with household insolvency after the financial crisis left nearly half of mortgages and commercial loans non-performing or in distress.The debate started Wednesday at a parliamentary committee despite failure by the government so far to finalize an agreement with bailout creditors ...

Greece backs Bolivian leader’s call for Venezuela dialogue

America 03/15/19, 06:16

Greece's left-wing Prime Minister Alexis Tsipras is backing calls by Bolivia for a negotiated settlement to the severe political and financial crisis in Venezuela.Many European Union member countries are among 50 nations, including the United States, which are backing Venezuelan opposition leader Juan Guaido against embattled President Nicolas Maduro. Those ...

How Federal Reserve helped fuel the bull market in stocks

Business 03/08/19, 11:08

The decade-long bull market in stocks was fueled in no small part by the aggressive moves the Federal Reserve took after the 2008 financial crisis and the Great Recession to nurse the U.S. economy back to health. The Fed took the extraordinary step of keeping its benchmark short-term rate at a ...

After a decade of doubts, the stock market’s bull chugs on

Europe 03/07/19, 10:09

The bull market for U.S. stocks turns 10 years old this weekend, which puts it way past senior citizen status for a market run. It's got the scars to prove it.Since rising from the rubble of the financial crisis in 2009, this bull market has faced several near-death experiences. Worries ...

Thoroughbred breeding numbers continue to fall in Florida

U.S. 03/03/19, 03:01

In the past decade, breeding of racing thoroughbreds continues to consolidate in Kentucky, leaving other states, including Florida, to fight over a smaller piece of a shrinking pie.And for the first time in decades, the number of mares bred in Florida fell below 2,000 and stallions dropped below 100, according ...

Powell says Fed likely to end bond trimming by end of 2019

Business 02/27/19, 15:36

Federal Reserve Chairman Jerome Powell said Wednesday that the Fed is close to announcing a plan to end the reduction of the size of its massive bond portfolio, which looks likely by the end of the year. Powell, delivering the Fed's semiannual monetary report to Congress, faced a number of questions ...

GE sells biopharma unit for $21 billion

Business 02/25/19, 07:32

General Electric is selling its biopharma business to Danaher Corp. for $21.4 billion as the industrial giant continues to shed pieces of itself.The biopharma unit, part of GE Life Sciences, generated revenue of about $3 billion last year. The mostly-cash transaction is expected to close in the fourth quarter of ...

Warren returns to Nevada, heart of 2008 economic crisis

Politics 02/16/19, 11:19

Democrat Elizabeth Warren, who made her name as a consumer advocate following the 2008 financial crisis, will make her first appearance Sunday as a presidential candidate in Las Vegas, the boom-and-bust town that made Nevada the epicenter of the country's foreclosure crisis. The Massachusetts senator is trying to distinguish herself from ...

Watergate in full: Epic documentary shows at Berlin festival

Entertainment 02/12/19, 10:15

Director Charles Ferguson thought Watergate had never "properly been done." The result is a documentary that explores the American presidential scandal in its full epic span and clocks in at more than four hours.Ferguson, who directed the Oscar-winning financial crisis documentary "Inside Job," is presenting the film this week at ...

Brexit’s toll: UK economy at weakest since financial crisis

Business 02/11/19, 05:17

Mounting uncertainty over Brexit saw the British economy slow last year to its weakest growth rate since the aftermath of the global financial crisis, official figures released Monday.The Office for National Statistics said that the British economy grew by a quarterly rate of only 0.2 percent during the fourth quarter, ...

Update: Warren officially kicks off bid for White House

Politics 02/09/19, 12:04

The Latest on Sen. Elizabeth Warren and the 2020 election (all times local): 12:03 p.m. Sen. Elizabeth Warren has made her presidential candidacy official, kicking off her bid for the White House at a rally in the working-class town of Lawrence, Massachusetts. The Massachusetts Democrat joins a crowded field in her party's primary. ...

UK economy to grow at weakest rate since financial crisis

Europe 02/07/19, 07:49

The British economy is set to grow this year by its weakest rate since the global financial crisis as uncertainties over Britain's exit from the European Union ratchet higher, the Bank of England warned Thursday.The central bank said the U.K. economy is slowing despite a modest boost from firms stockpiling ...

Stocks slide as slow growth in China weighs on earnings

Business 01/28/19, 10:25

Stocks opened broadly lower after two major U.S. companies dropped after saying that weakness in China's economy was weighing on their results.Caterpillar, a bellwether for industrial companies, has been warning investors that higher costs related to tariffs would hurt its bottom line. The weak results weighed down the entire sector.Nvidia ...

Jumpy market gives young investors first big test of resolve

New York 01/28/19, 10:10

After gliding through years where stocks mostly just rose, a generation of investors last year suddenly confronted a hard financial truth: Stocks are risky and can plunge at any moment. For older investors, the nearly 20 percent drop in the S&P 500 index from late September through Christmas Eve was a ...

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