Banking & Finance
The latest coverage of the banking and financial sectors.
Penny wise: Trump says it’s time to stop making 1-cent coins
President Trump has instructed his Treasury secretary to stop making pennies, calling them “wasteful.”
Senate Banking Committee seeks ways to reduce politicized debanking of Americans
The Senate Banking Committee on Wednesday took on the trend of major financial institutions “debanking” customers because of their politics.
Stock markets tumble as Wall Street unpacks Trump’s tariffs
Wall Street stocks tumbled Monday morning upon fears that President Trump’s tariffs would cause economic upheaval by disrupting supply chains and inflaming price inflation.
Trump stands pat on North American tariffs, says European Union is next
President Trump shows no signs of relenting in his heavy use of tariffs to get what he wants from foreign partners. In fact, he’s just getting started.
Trump tariffs spark retaliation from Canada, Mexico and China
President Trump’s tariffs are meeting stiff retaliation from the nation’s two largest trading partners, which are imposing tariffs on U.S. goods in a trade war that threatens to raise prices on all sides.
Trump’s efforts to reshape federal workforce test legal boundaries
President Trump is on a mission to reshape and reduce the federal workforce.
U.S. economy grows solid 2.3% in October-December on eve of Trump return to White House, 2.8% in ‘24
A humming American economy ended 2024 on a solid note with consumer spending continuing to drive growth, and ahead of what could be a significant change in direction under a Trump administration.
Europe’s economy showed zero growth at end of 2024 as Germany, eurozone’s biggest economy, struggled
Europe’s economy stagnated at the end of last year as its former growth engine, Germany, finished a second straight year of shrinking output, officials said Thursday.
Federal Reserve expected to stand pat on rates even as Trump demands cuts
The Federal Reserve is nearly certain to keep its key interest rate unchanged at its policy meeting this week, just a few days after President Donald Trump said he would soon demand lower rates.
S&P 500 drifts higher toward a record
U.S. stocks are drifting around a record on Thursday amid a relatively quiet day on Wall Street.
Bitcoin soars past $109,000 ahead of possible early action on crypto by Trump
The price of bitcoin surged to over $109,000 early Monday, just hours ahead of President-elect Donald Trump’s inauguration, as a pumped up cryptocurrency industry bets he’ll take action soon after returning to the White House.
Capital One customers experience problems with deposit access
A Capital One service disruption that began Thursday has continued into Friday, with thousands of customers reporting their inability to access direct deposits or see their account balances.
Biden blames GOP-led states for soaring inflation: ‘Screwed up’
President Biden pointed a finger at Republican states, saying inflation soared under his watch because the leaders there bungled the economy.
JPMorgan posts record annual profits as major U.S. banks thrive in the final quarter of 2024
JPMorgan’s net income soared 50% to more than $14 billion in the fourth quarter as the bank’s profit and revenue easily beat Wall Street forecasts, and other major banks reported banner earnings for the year.
As the Trumps watch, UAE makes aggressive bid to be global crypto pacesetter
The United Arab Emirates has emerged as a global hub for cryptocurrency and blockchain innovation, offering what boosters say is a model for the incoming Trump administration on how clear regulations and strategic investment can drive growth in the booming but volatile digital finance sector.
