Banking and credit

FILE - In this Jan. 12, 2018, file photo, Asian Development Bank (ADB) President Takehiko Nakao gestures during a forum with foreign correspondents at the bank's headquarters in Manila, Philippines. The regional lender announced Nakao’s plan to resign on Tuesday, Sept. 17, 2019. Japanese officials have usually headed the ADB, and Finance Minister Taro Aso said Tokyo would nominate a “high-caliber candidate” as Nakao’s successor. (AP Photo/Bullit Marquez, File)
September 17, 2019 - 4:03 am
TOKYO (AP) — The president of the Asia Development Bank, Takehiko Nakao, plans to step down early next year, the regional lender said Tuesday. Japan has usually headed the ADB as a top donor. Finance Minister Taro Aso said in a statement that Tokyo would soon nominate a "high-caliber candidate" as...
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Greece's Prime Minister Kyriakos Mitsotakis center left, and Greek Finance Minister Christos Staikouras, center right, arrive at a meeting in Athens, on Wednesday, Sept. 11, 2019. Mitsotakis chaired Wednesday a meeting of cabinet ministers on economic policy. (AP Photo/Petros Giannakouris)
September 16, 2019 - 11:03 am
ATHENS, Greece (AP) — Greece has asked its European creditors to approve the early repayment of part of its bailout loans from the International Monetary Fund, the country's finance minister said Monday. Christos Staikouras said paying off the IMF loans ahead of schedule would reduce debt servicing...
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FILE - In this July 31, 2019, file photo Federal Reserve Chairman Jerome Powell speaks during a news conference following a two-day Federal Open Market Committee meeting in Washington. Federal Reserve Chairman Jerome Powell said Friday, Sept. 6, 2019 that the Fed is not expecting a U.S. or global recession. But it is monitoring a number of uncertainties, including trade conflicts, and will "act as appropriate to sustain the expansion."(AP Photo/Manuel Balce Ceneta, File)
September 16, 2019 - 9:37 am
WASHINGTON (AP) — For a second straight time, the Federal Reserve is set to cut interest rates this week to try to protect the economy from the consequences of a global slowdown and President Donald Trump's trade war with China. After that, no one — not even the Fed itself — seems sure what it will...
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September 16, 2019 - 12:18 am
BEIJING (AP) — Asian stock markets were mixed Monday after crude prices surged following an attack on Saudi Arabia's biggest oil processing facility. Hong Kong's benchmark tumbled 1% while Seoul advanced and Shanghai and Sydney were little-changed. Japanese markets were closed for a holiday. The...
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FILE - In this March 2, 2018 file photo, a worker cleans big machine parts of presses manufacturer Schüler AG in Goeppingen, Germany. German factory orders, a leading indicator of the health of Europe's biggest economy, dropped strongly in July, erasing gains from the previous month. The Federal Statistical Office reported Thursday industrial orders dropped 2.7% in July over June when adjusted for seasonal and calendar factors, wiping out a 2.7% June increase. (Marijan Murat/dpa via AP)
September 12, 2019 - 2:19 pm
WASHINGTON (AP) — The Federal Reserve and the European Central Bank are struggling mightily to invigorate their economies at a time when growth is slowing, governments remain on the sidelines and the banks' usual stimulative tools appear less effective than in the past. On Thursday, the ECB...
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FILE- In this Feb. 5, 2018, file photo, the seal of the Board of Governors of the United States Federal Reserve System is displayed in the ground at the Marriner S. Eccles Federal Reserve Board Building in Washington. On Thursday, Sept. 12, 2019, the Senate confirmed President Donald Trump’s nomination of Michelle Bowman to serve a full 14-year term on the seven-member Federal Reserve board. (AP Photo/Andrew Harnik, File)
September 12, 2019 - 1:27 pm
WASHINGTON (AP) — The Senate on Thursday confirmed President Donald Trump's nominee Michelle Bowman to serve a full 14-year term on the seven-member Federal Reserve board. Bowman was approved on a 60-31 vote, winning the support of 49 Republicans and 11 Democrats. Only one Republican, Sen. Rand...
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FILE - In this Thursday, Aug. 17, 2017, file photo, solar tech Joshua Valdez, left, and senior plant manager Tim Wisdom walk past solar panels at a Pacific Gas and Electric Solar Plant, in Dixon, Calif. U.S. wholesale prices edged up a slight 0.1% in August 2019 as energy prices took a big plunge, a further sign that inflation is remaining tame. The Labor Department says the gain in its producer price index, which measures inflation pressures before they reach the consumer, followed a modest 0.2% rise in July. Core inflation, which excludes food and energy, was up a stronger 0.3%. (AP Photo/Rich Pedroncelli, File)
September 11, 2019 - 5:59 am
WASHINGTON (AP) — U.S. wholesale prices edged up a slight 0.1% in August as energy prices took a big plunge, a further sign that inflation is remaining tame. The Labor Department said Wednesday that the gain in its producer price index, which measures inflation pressures before they reach the...
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In this Spet. 9, 2019, photo, Treasury Secretary Steve Mnuchin speaks to reporters outside the West Wing of the White House in Washington. Trump administration officials are coming before Congress to defend their plan for ending government control of Fannie Mae and Freddie Mac, the giant mortgage finance companies that nearly collapsed in the financial crisis 11 years ago and were bailed out at cost to taxpayers of $187 billion. Treasury Mnuchin and Housing and HUD Secretary Ben Carson are testifying Sept. 10 before the Senate Banking Committee on the plan for returning Fannie and Freddie to private ownership. (AP Photo/Andrew Harnik)
September 10, 2019 - 9:37 am
WASHINGTON (AP) — Trump administration officials on Tuesday defended their plan to Congress for ending government control of mortgage finance giants Fannie Mae and Freddie Mac, clashing with Democratic senators on whether the change would raise home borrowing costs and neglect lower-income...
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People stand near an electronic stock board showing Japan's Nikkei 225 index at a securities firm in Tokyo Tuesday, Sept. 10, 2019. Asian shares were mixed Tuesday after a day of listless trading on Wall Street, as investors awaited signs on global interest rates.(AP Photo/Eugene Hoshiko)
September 10, 2019 - 4:43 am
TOKYO (AP) — Global shares were mixed Tuesday as investors awaited action from global central banks amid concern that U.S-China trade war is hurting economic growth. Asian markets finished mostly higher, European shares were mostly down and Wall Street appeared headed for a lower or flat open...
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FILE - In this Sept. 4, 2019, file photo trader Michael Milano works on the floor of the New York Stock Exchange. The U.S. stock market opens at 9:30 a.m. EDT on Monday, Sept. 9. (AP Photo/Richard Drew, File)
September 09, 2019 - 8:37 pm
TOKYO (AP) — Asian shares were mixed Tuesday after a day of listless trading on Wall Street, as investors awaited signs on global interest rates. Japan's benchmark Nikkei 225 added 0.2% to 21,360.15 in morning trading. Australia's S&P/ASX 200 fell 0.5% to 6,618.20, while South Korea's Kospi...
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