Financial services

February 22, 2019 - 11:12 am
WASHINGTON (AP) — The Federal Reserve said Friday that in light of a slowing global economy and last year's financial market turmoil, the central bank intends to remain "patient" in determining when to make future changes in its benchmark interest rate. The Fed's semi-annual report to Congress on...
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Founder of the Baring Vostok investment fund Michael Calvey looks through a cage's class in the court room in Moscow, Russia, Saturday, Feb. 16, 2019. A Moscow court has ordered Baring Vostok's founder Michael Calvey to be kept in custody until April 13, 2019. (AP Photo/Alexander Zemlianichenko)
February 21, 2019 - 11:29 am
MOSCOW (AP) — The United States Embassy in Moscow has called on Russian authorities to allow its staff to visit a U.S. investment fund manager who has been jailed pending a fraud investigation. Michael Calvey, founder and senior partner at the Baring Vostok equity firm, was detained last week and...
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The last sunlight is reflected in the facade of the European Central Bank as the sun sets in Frankfurt, Germany, Tuesday, Feb. 19, 2019. (AP Photo/Michael Probst)
February 21, 2019 - 7:53 am
FRANKFURT, Germany (AP) — Top officials of the European Central Bank worried at their last meeting that the slowdown in economic growth might be "deeper and more broad-based" than previously suspected. The written account of the Jan. 24 meeting released Thursday indicated the bank's 25-member rate-...
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A Chinese man monitors stock prices at a brokerage in Beijing, China, Thursday, Feb. 21, 2019. Asian stock markets were little-changed Thursday following a listless day on Wall Street ahead of U.S.-Chinese negotiations aimed at ending a tariff battle. (AP Photo/Ng Han Guan)
February 21, 2019 - 4:44 am
BEIJING (AP) — Most global stock markets rose Thursday following a listless day on Wall Street ahead of U.S.-Chinese negotiations aimed at ending a tariff battle. In early trading, Germany's DAX index advanced 0.4 percent to 11,445.77 while London's FTSE 100 was off 0.2 percent at 7,210.51. France'...
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A Chinese man monitors stock prices at a brokerage in Beijing, China, Thursday, Feb. 21, 2019. Asian stock markets were little-changed Thursday following a listless day on Wall Street ahead of U.S.-Chinese negotiations aimed at ending a tariff battle. (AP Photo/Ng Han Guan)
February 20, 2019 - 11:22 pm
BEIJING (AP) — Asian stock markets were little-changed Thursday following a listless day on Wall Street ahead of U.S.-Chinese negotiations aimed at ending a tariff battle. Tokyo's Nikkei 225 index lost 0.1 percent to 21,402.69 after a gauge of manufacturing activity fell to a three-year low,...
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Gov. J.B. Pritzker delivers his budget address to a joint session of the General Assembly Wednesday, Feb. 20, 2019 at the Capitol in Springfield, Ill. (Rich Saal/The State Journal-Register via AP)
February 20, 2019 - 4:29 pm
SPRINGFIELD, Ill. (AP) — New Illinois Gov. J.B. Pritzker proposed a budget Wednesday that relies partly on tax revenues from two industries that currently aren't even legal in the state, which is saddled with billions of dollars in pension obligations and other debts. Pritzker's $39 billion...
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Former CEO of Global Wealth Management and Business Banking at UBS AG Raoul Weil leaves the Paris courthouse in Paris, France, Wednesday, Feb. 20, 2019. A Paris court has ordered Swiss bank UBS to pay 3.7 billion euros ($4.2 billion) in fines for helping wealthy French clients evade tax authorities. (AP Photo/Michel Euler)
February 20, 2019 - 10:38 am
PARIS (AP) — A French court ordered Switzerland's largest bank, UBS, to pay 4.5 billion euros ($5.1 billion) in fines and damages for helping wealthy French clients evade tax authorities, wrapping up one of France's biggest-ever tax evasion trials. The Paris court convicted Zurich-based UBS AG on...
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February 19, 2019 - 10:04 am
ATHENS, Greece (AP) — Greece's central bank chief has asked Prime Minister Alexis Tsipras to intervene after a cabinet minister phoned him to tell him how to do his job and then allegedly leaked the conversation to the press. In a statement Tuesday, bank chief Yiannis Stournaras deplored the deputy...
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Founder of the Baring Vostok investment fund Michael Calvey sits in a cage in the court room in Moscow, Russia, Friday, Feb. 15, 2019. A veteran U.S. investment fund manager has been detained in Moscow and faces fraud charges. A Moscow court said on Friday that Michael Calvey, founder and senior partner at Baring Vostok equity firm, was detained alongside two other fund managers. (AP Photo/Alexander Zemlianichenko)
February 15, 2019 - 10:54 am
MOSCOW (AP) — A veteran U.S. investment fund manager was detained in Moscow on Friday and faces fraud charges in a case that's likely to rattle the Russian business community. Michael Calvey, founder and senior partner at Baring Vostok equity firm, was detained alongside two other fund managers in...
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February 14, 2019 - 2:50 pm
JERUSALEM (AP) — An Israeli software firm known for its phone-surveillance technology says it has been re-acquired by its founders. The NSO group announced Thursday that U.S.-based private equity firm Francisco Partners sold the company to its management. The company did not reveal terms of the...
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