Banking and credit

FILE - In this Jan. 2, 2019, file photo, women peer in the front door of Lord & Taylor's flagship Fifth Avenue store which closed for good in New York. New York landmark retailer Lord & Taylor has filed for bankruptcy, joining a growing list of retailers flummoxed by the pandemic. (AP Photo/Kathy Willens, File)
1010 WINS Newsroom
August 03, 2020 - 7:59 am
NEW YORK (AP) — Lord & Taylor, America's oldest retailer, is seeking bankruptcy protection, as is the owner of Men’s Wearhouse and Jos. A. Banks, lengthening the list of major retail chains that have faltered in the pandemic. Companies, some with roots dating to the early 19th century, were...
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A man lifts his arm as he walks by the New York Stock Exchange, Thursday, July 30, 2020. Stocks are falling on Wall Street Thursday after reports showed that layoffs are continuing at a stubborn pace and that the U.S. economy contracted at a nearly 33% annual rate in the spring. (AP Photo/Mark Lennihan)
1010 WINS Newsroom
July 31, 2020 - 12:16 am
TOKYO (AP) — Asian shares tumbled Friday as reports showed layoffs of American workers are persisting at high levels after the U.S. economy contracted at a nearly 33% annual pace in the spring, the worst quarter on record. Earnings reports, a gauge of how well businesses are managing the fallout...
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Currency trader watch computer monitors near the screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Thursday, July 30, 2020. Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. (AP Photo/Lee Jin-man)
1010 WINS Newsroom
July 29, 2020 - 11:49 pm
BEIJING (AP) — Asian stocks advanced Thursday after the U.S. Federal Reserve left interest rates near zero to support a struggling economy. Benchmarks in Shanghai, Tokyo, Hong Kong and Seoul all gained. Lower interest rates and investor optimism about a possible coronavirus vaccine have helped...
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FILE - In this March 3, 2020 file photo, Federal Reserve Chair Jerome Powell speaks during a news conference to discuss an announcement from the Federal Open Market Committee, in Washington. Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday, July 29, after its two-day policy meeting ends and just before Powell holds a news conference. (AP Photo/Jacquelyn Martin, File)
1010 WINS Newsroom
July 29, 2020 - 5:27 pm
WASHINGTON (AP) — Federal Reserve Chair Jerome Powell warned Wednesday that the viral epidemic is endangering the modest economic recovery that followed a collapse in hiring and spending this spring. As a result, he said, the Fed plans to keep interest rates pinned near zero well into the future...
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FILE - In this June 15, 2018, file photo, cash is fanned out from a wallet in North Andover, Mass. High-interest payday and online lenders have long been among the few options for Americans with bad credit and lower incomes. Guidance issued in the spring by federal regulators cut a previously suggested rate cap on loans and that could mean banks start lending small-dollar, high-interest loans. (AP Photo/Elise Amendola, File)
1010 WINS Newsroom
July 29, 2020 - 9:51 am
For the millions of Americans who struggle to afford an unexpected expense, high-interest payday and online loans may seem like acceptable options despite the inherent risk. But guidance issued by federal regulators in the spring could bring a competitor to small-dollar lending: banks. The guidance...
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FILE - In this June 30, 2020 file photo, Federal Reserve Chair Jerome Powell testifies during a House Financial Services Committee hearing on the coronavirus response on Capitol Hill in Washington. The Federal Reserve has opened one of its lending programs to nonprofit groups, including hospitals, educational institutions, and social service organizations. The Fed said Friday, July 17, that its Main Street Lending Program, which is targeted to mid-sized businesses, will now extend credit to nonprofits with at least 10 employees and endowments of less than $3 billion. (Tasos Katopodis/Pool via AP, File)
1010 WINS Newsroom
July 29, 2020 - 12:01 am
WASHINGTON (AP) — Federal Reserve officials are grappling this week with the timing and scope of their next policy moves at a time when the raging viral pandemic has weakened the U.S. economy. No major changes are likely when the Fed releases a statement Wednesday after its two-day policy meeting...
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FILE- In this April 23, 2018, file photo, the logo for Visa appears above a trading post on the floor of the New York Stock Exchange. Visa Inc. said its fiscal third quarter profit fell by 23% from a year ago, undercut by the world’s consumers and businesses dramatically slowing their spending as the coronavirus pandemic took hold. (AP Photo/Richard Drew, File)
1010 WINS Newsroom
July 28, 2020 - 5:45 pm
NEW YORK (AP) — Credit card processing giant Visa Inc. said its fiscal third quarter profit fell by 23% from a year ago, undercut by the world’s consumers and businesses dramatically slowing their spending as the coronavirus pandemic took hold. Visa said it earned a profit of $2.37 billion last...
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A woman wearing a face mask stands beneath a bank's electronic board showing the Hong Kong share index at Hong Kong Stock Exchange in Hong Kong Tuesday, July 28, 2020. Shares advanced in Asia on Tuesday after U.S. stocks resumed their upward march on Wall Street, while the price of gold pushed to nearly $1,970 per ounce. (AP Photo/Vincent Yu)
1010 WINS Newsroom
July 27, 2020 - 11:37 pm
MITO, Japan (AP) — Shares advanced in Asia on Tuesday after U.S. stocks resumed their upward march on Wall Street, while the price of gold pushed to nearly $1,970 per ounce. Benchmarks climbed in Hong Kong, Tokyo and Shanghai after the S&P 500 rose 0.7% overnight. Much attention will be focused...
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AP Illustration/Peter Hamlin;
1010 WINS Newsroom
July 23, 2020 - 3:32 am
Why are coins hard to find during the pandemic? The Federal Reserve has seen a significant decline of coins in circulation because people are not spending them as regularly at businesses, many of which are either temporarily closed or not accepting cash. Coins are still plentiful. In April, the U.S...
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FILE - In this Feb. 13, 2020 file photo, President Donald Trump's nominee to the Federal Reserve, Judy Shelton, appears before the Senate Banking Committee for a confirmation hearing, on Capitol Hill in Washington. In a shift, the Senate Banking Committee is likely to back President Donald Trump's unconventional nomination of Shelton for the Federal Reserve's Board of Governors in a party-line vote Tuesday, July 21. (AP Photo/J. Scott Applewhite, File)
1010 WINS Newsroom
July 21, 2020 - 3:01 pm
WASHINGTON (AP) — The Senate Banking Committee on Tuesday approved President Donald Trump's choice of Judy Shelton for the Federal Reserve board of governors on a party-line vote, overcoming widespread questions about her qualifications for the Fed. Committee Chairman Sen. Mike Crapo, Republican of...
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