Banking and credit

Federal Reserve Chair Jerome Powell speaks during a news conference, Tuesday, March 3, 2020, to discuss an announcement from the Federal Open Market Committee, in Washington. In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell noted that the coronavirus "poses evolving risks to economic activity." (AP Photo/Jacquelyn Martin)
March 03, 2020 - 3:44 pm
WASHINGTON (AP) — In a surprise move, the Federal Reserve cut its benchmark interest rate by a sizable half-percentage point Tuesday in an effort to support the economy in the face of the spreading coronavirus. Chairman Jerome Powell said at a news conference that the virus “will surely weigh on...
Read More
FILE - In this June 6, 2018, file photo, a motorcyclist rides past the Bank Negara Malaysia in Kuala Lumpur, Malaysia. Malaysia's central bank reduced its key overnight policy rate by 0.25 percentage points to 2.5% on Tuesday, March 3, 2020, citing worsening economic conditions from the virus outbreak in a growing number of countries. The central bank said it expects economic growth to be stunted in this quarter as tourism and consumer spending take a hit from weaker demand. (AP Photo/Sadiq Asyraf, File)
March 03, 2020 - 3:48 am
KUALA LUMPUR, Malaysia (AP) — Malaysia's central bank reduced its key overnight policy rate by 0.25 percentage points to 2.5% on Tuesday, citing worsening economic conditions from the virus outbreak in a growing number of countries. The Bank Negara Malaysia said it expects economic growth to be...
Read More
FILE - In this Oct. 1, 2019, file photo, a man walks past the Reserve Bank of Australia in Sydney. Australia’s central bank on Tuesday, March 3, 2020 cut its benchmark interest rate by a quarter of a percentage point to a record low of 0.5% in response to the economic shock of the new coronavirus. (AP Photo/Rick Rycroft, File)
March 03, 2020 - 12:35 am
CANBERRA, Australia (AP) — Australia’s central bank on Tuesday cut its benchmark interest rate by a quarter of a percentage point to a record low of 0.5% in response to the economic shock of the new coronavirus. The reduction at the Reserve Bank of Australia’s monthly meeting is the first since...
Read More
A pair of specialists prepare for the day's trading activity on the floor of the New York Stock Exchange, Monday, March 2, 2020. Wall Street is set to post more losses at the opening bell, coming on top of last week's drop, which was the worst since the global financial markets over a decade ago. (AP Photo/Richard Drew)
March 02, 2020 - 5:37 pm
The Dow Jones Industrial Average soared nearly 1,300 points, or 5%, Monday as stocks roared back from a seven-day rout on hopes that central banks will take action to shield the global economy from the effects of the coronavirus outbreak. The huge gains clawed back some of the ground lost last week...
Read More
President of the European Central Bank Christine Lagarde addresses an event to launch the private finance agenda for the 2020 United Nations Climate Change Conference COP26 at Guildhall in London, Thursday Feb. 27, 2020. The 2020 United Nations Climate Change Conference COP26 will be hosted in Glasgow from November 9 - November 19, 2020 under the presidency of the UK. (Tolga Akmen/Pool via AP)
March 02, 2020 - 5:36 pm
FRANKFURT, Germany (AP) — The head of the European Central Bank said Monday that Europe's top monetary authority is ready to take “appropriate and targeted measures” if necessary to support the economy against the headwinds from the new coronavirus. Christine Lagarde said in a statement that the...
Read More
March 02, 2020 - 5:00 pm
FRANKFURT, Germany (AP) — European Central Bank head Lagarde: Bank is "ready to take appropriate and targeted measures" to support economy.
Read More
A woman walks past an electronic board showing world currency exchange rates at a securities firm in Tokyo Monday, March 2, 2020. Share prices have charged back from their retreat last week, with mainland Chinese indexes gaining 3% as data showed progress in restoring factory output after weeks of disruptions from the viral outbreak. (AP Photo/Eugene Hoshiko)
March 02, 2020 - 7:55 am
LONDON (AP) — Mounting concerns about the economic impact of the new coronavirus outbreak saw gains in European stock markets wiped out Monday despite hopes of stimulus measures from major central banks. Wall Street was set to post more losses at the opening bell, coming on top of last week's drop...
Read More
A vendor wearing a face mask stands by a stall in Venice, Italy, Friday, Feb. 28, 2020. Authorities in Italy decided to re-open schools and museums in some of the areas less hard-hit by the coronavirus outbreak in the country which has the most cases outside of Asia, as Italians on Friday yearned for a return to normal life even amid fears that the outbreak could plunge the country's economy into recession. (Claudio Furlan/Lapresse via AP)
February 28, 2020 - 5:12 pm
WASHINGTON (AP) — Federal Reserve Chairman Jerome Powell sought to calm fears Friday over the viral outbreak by issuing a rare statement of reassurance that the Fed will “use our tools" to support the economy — a strong signal of a coming interest rate cut. The stock market has plummeted 13% this...
Read More
FILE - In this Wednesday, Feb. 26, 2020, file photo, stock trader Gregory Rowe works at the New York Stock Exchange. The S&P 500 has lost more than 10% from its record high as worries have built that a fast-spreading new virus will slam economies and corporate profits around the world. That means stocks just went through a “correction” in the stilted parlance of market watchers. (AP Photo/Mark Lennihan, File)
February 28, 2020 - 7:51 am
NEW YORK (AP) — After six days of being pounded by a virus-induced, global sell-off, U.S. markets hit a milestone this week. The S&P 500 has dropped more than 10% from the record highs set just over a week ago as a fast-spreading new virus raises the specter of damaged economies and tumbling...
Read More
February 28, 2020 - 7:34 am
LONDON (AP) — Three former Barclays bankers have been cleared of fraud over a 4 billion-pound ($5.2 billion) investment deal with Qatar at the height of the global financial crisis in 2008. The three men — Roger Jenkins, Thomas Kalaris and Richard Boath — were acquitted Friday after a five-month...
Read More

Pages