US stocks fell sharply, led by technology and other growth stocks, as investors assessed the implications of the Federal Reserve’s most aggressive tightening of monetary policy in more than two decades. The S&P 500 dropped 3.7% as losses accelerated in midday trading Thursday. The tech-focused Nasdaq Composite Index fell 4.9%, and the Dow Jones Industrial … Read more
WASHINGTON — Top US regulators proposed overhauling how banks lend hundreds of billions of dollars annually in lower-income communities, after scrapping a Trump-era revamp that had divided regulators and industry officials. The latest proposal to modernize rules for the 1977 Community Reinvestment Act, announced Thursday, aims to ensure lending to lower-income individuals and small businesses … Read more
An economic downturn appears to be in the cards. And that could put some homeowners in a tight spot. Fears of a recession were stoked last week when data showed that the US economy shrank in the first quarter at a 1.4% annualized rate. Roger Ferguson, who previously served as a Federal Reserve governor, said … Read more
Rampant inflation is helping reduce the weight of the world public debt relative to its economic output, a boon for governments that economists warn could easily backfire if inflation stays unchecked. Some highly indebted European countries — including Greece, Portugal and the UK — are on track to erase the additional debt raised to combat … Read more
Rampant inflation is helping reduce the weight of the world public debt relative to its economic output, a boon for governments that economists warn could easily backfire if inflation stays unchecked. Some highly indebted European countries — including Greece, Portugal and the UK — are on track to erase the additional debt raised to combat … Read more
Big oil companies are continuing to reap the benefits of high commodity prices but aren’t backing off plans to reward investors while keeping production roughly flat. Exxon XOM: -2.24% Mobil Corp. said Friday it collected $ 5.5 billion in first-quarter profit, more than double the same period last year. The US oil giant said it … Read more
