Banking and credit

Indian workers repair an advertising hoarding in Hyderabad, India, Tuesday, Jan. 21, 2020. The IMF on Monday lowered India’s economic growth estimate for the current fiscal to 4.8% and listed the country’s Gross Domestic Product (GDP) numbers as the single biggest drag on its global growth forecast for two years. (AP Photo/Mahesh Kumar A.)
January 21, 2020 - 2:28 am
NEW DELHI (AP) — A decision by the International Monetary Fund to downgrade its economic growth forecast for India is adding to pressure on Indian Prime Minister Narendra Modi over his policies. Opposition leaders and economists on Tuesday blasted the government for failing to deliver on promises...
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An employee works in a chemical fiber plant in Nantong in eastern China's Jiangsu Province, Friday, Jan. 17, 2020. China's economic growth sank to a new multi-decade low in 2019 as Beijing fought a tariff war with Washington, but forecasters said a U.S.-Chinese trade truce might help to revive consumer and business activity. (Chinatopix via AP)
January 20, 2020 - 5:24 am
WASHINGTON (AP) — Low interest rates and reduced trade tensions will likely buoy the global economy over the next two years and help nurture steady if modest growth. That's the view of the International Monetary Fund, which foresees world economic growth accelerating from 2.9% last year to 3.3% in...
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Pedestrian stand in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo, Monday, Jan. 20, 2020. Asian shares are trading mostly higher as investors await central bank decisions later in the week and upcoming earnings reports. Shares rose Monday in Tokyo, Sydney and Shanghai but fell in Hong Kong. (AP Photo/Eugene Hoshiko)
January 20, 2020 - 12:51 am
TOKYO (AP) — Shares were mixed in Europe and Asia on Monday investors awaited central bank decisions and earnings reports due out in coming weeks. U.S. stock markets will be closed in observance of the Martin Luther King Jr. holiday. France's CAC 40 declined 0.3% to 6,084.84, while Germany's DAX...
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FILE - This Feb. 5, 2018, file photo shows the seal of the Board of Governors of the United States Federal Reserve System at the Marriner S. Eccles Federal Reserve Board Building in Washington. On Thursday, Jan. 16, 2020, President Donald Trump announced he has nominated Judy Shelton and Christopher Waller to serve on the Federal Reserve's influential Board of Governors. Shelton is an economic adviser to Trump's campaign who recently served as the U.S. executive director for the European Bank of Reconstruction and Development. Waller is the director of research at the Federal Reserve Bank of St. Louis. (AP Photo/Andrew Harnik, File)
January 16, 2020 - 5:38 pm
WASHINGTON (AP) — President Donald Trump said Thursday that he intends to nominate two people to serve on the Federal Reserve's Board of Governors, an institution he has repeatedly attacked for not cutting rates deeply enough. Both were first named by Trump on Twitter in July but their nominations...
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Clouds pass by the European Central Bank in Frankfurt, Germany, Thursday, Jan. 16, 2020. (AP Photo/Michael Probst)
January 16, 2020 - 6:30 am
FRANKFURT, Germany (AP) — Top officials at the European Central Bank say economic growth remains weak though they see a few upbeat signs after the U.S. and China moved toward lowering trade tensions. Recent data point to “a stabilization in euro area growth,” according to an account of the Dec. 12...
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FILE - In this Tuesday, Oct. 18, 2011, file photo, the Morgan Stanley logo is displayed on its Times Square building, in New York. Morgan Stanley reports financial results Thursday, Jan. 16, 2020. (AP Photo/Mark Lennihan, File)
January 16, 2020 - 5:52 am
NEW YORK (AP) — Morgan Stanley's fourth-quarter profits jumped 46% from a year earlier, the company said Thursday, helped by a massive boost from the bank's trading desks. The investment bank said it earned a profit of $2.24 billion, or $1.30 per share, compared with a profit of $1.53 billion, or...
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FILE - In this Oct. 14, 2019, file photo a Bank of America logo is attached to the exterior of the Bank of America Financial Center building in Boston. Bank of America reports financial results Wednesday, Jan. 15, 2020. (AP Photo/Steven Senne)
January 15, 2020 - 5:48 am
NEW YORK (AP) — Consumer banking giant Bank of America said Wednesday that its fourth-quarter profits fell 4% from a year ago, as the bank was impacted by the rapid decline of interest rates in late 2019. The Charlotte, North Carolina-based bank said Wednesday that it earned a profit of $6.99...
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Anti-government protesters break a bank security camera as other smashes the widows, during ongoing protests against the Lebanese central bank's governor and against the deepening financial crisis, at Hamra trade street, in Beirut, Lebanon, Tuesday, Jan. 14, 2020. Lebanese security forces lobbed tear gas at protesters who responded with rocks outside the country's central bank Tuesday, a violent turn after demonstrators returned to the streets following a weekslong lull. (AP Photo/Hussein Malla)
January 14, 2020 - 2:16 pm
BEIRUT (AP) — Lebanese security forces fired volleys of tear gas at protesters who responded with rocks outside the country's central bank in pitched street battles that lasted for hours late Tuesday. The clashes ended a day of rallies that followed a lull in the three-months-long protests. The...
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FILE - In this Oct. 21, 2013, file photo, the JPMorgan Chase logo is displayed at their headquarters in New York. Banking giant JPMorgan Chase said that its fourth-quarter profits jumped 21% from a year earlier, as the bank's trading desks had a blowout quarter. A sharp increase in JPMorgan's trading business made up for declining interest rates, which impacted other parts of the bank. (AP Photo/Seth Wenig, File)
January 14, 2020 - 10:50 am
NEW YORK (AP) — So far, it appears 2019 was another record year for Wall Street. Trading of stocks and bonds rebounded after a terrible end to 2018 and consumers spent tons of money on their credit cards, buoyed by a strong job market and steady economic growth. On Tuesday, JPMorgan Chase reported...
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January 14, 2020 - 5:48 am
NEW YORK (AP) — Citigroup says fourth-quarter profits rose by 15% as the banking conglomerate benefited from a boost in trading similar to competitor JPMorgan Chase. The New York-based bank said it earned a profit of $4.98 billion, or $2.15 per share, compared with a profit of $4.3 billion, or $1...
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