Wall Street posts weekly loss as banks, chipmakers weigh

Wall Street posts weekly loss as banks, chipmakers weigh

NEW YORK (Reuters) – The S&P 500 ended lower on Friday after a choppy trading session as bank and chipmaker stocks weighed on the index and investors grappled with U.S.-China trade talks. All three major U.S. stock indexes posted a weekly loss as the markets reacted to reports from the U.S.-China trade summit, rising U.S. […]

Bill Aimed at Saving Community Banks Is Already Killing Them

Bill Aimed at Saving Community Banks Is Already Killing Them

After initial reluctance, House Republicans have finally reached an agreement to move forward on a bipartisan bank deregulation bill that the Senate passed in March. Its stated aim — to help rural community banks thrive against growing Wall Street power — appears to have been enough to power it across the finish line. But banking […]

Tobacco and tech drag on Wall Street; yields boost banks

Tobacco and tech drag on Wall Street; yields boost banks

NEW YORK (Reuters) – Wall Street’s three major indexes closed lower on Thursday, with tobacco stocks leading a tumble in consumer staples while concerns about smartphone demand hurt the technology sector and rising bond yields and earnings helped financials rebound. The market pared some losses late in the session after Bloomberg reported that Deputy Attorney […]

The World Bank’s “ease of doing business” report faces tricky questions

The World Bank’s “ease of doing business” report faces tricky questions

HOW many days does it take to correct a misleading newspaper interview? Four, in the case of Paul Romer, the World Bank’s chief economist. On January 12th a surprising article in the Wall Street Journal alleged that one of the bank’s signature reports—on the ease of doing business around the world—may have been tainted by […]

Shares of big U.S. banks jump as Senate approves tax overhaul

(Reuters) – Shares of the biggest U.S. banks rose on Monday, after the Senate approved a tax overhaul bill on Saturday, raising investor hopes that their earnings would get a boost from a significantly lower tax bill. FILE PHOTO: A Bank of America logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie […]

Global banks flag concerns over U.S. Senate tax proposal

Global banks flag concerns over U.S. Senate tax proposal

WASHINGTON (Reuters) – Global banks raised concerns on Friday over a provision in the U.S. Senate tax bill aimed at cracking down on tax avoidance by multinational corporations that they said could hurt the banking industry. Copies of tax legislation are seen during a markup on the “Tax Cuts and Jobs Act” on Capitol Hill […]