Financial related news.
WASHINGTON (AP) — Sam Bankman-Fried, founder and former CEO of the failed cryptocurrency exchange FTX, helped 1,500 Bahamian investors remove $100 million from their accounts while other customers around the world were locked out of the exchange, according to the company's new CEO, who testified before a House committee earlier this week. FTX CEO John [...]
WASHINGTON (AP) — Inflation slowed again last month in the latest sign that price increases are cooling despite the pressures they continue to inflict on American households. Consumer prices rose 7.1 percent in November from a year ago, the government said earlier this week. That was down sharply from 7.7 percent in October and a [...]
NEW YORK — Sam Bankman-Fried, the former CEO of cryptocurrency platform FTX, orchestrated a years-long fraud by diverting investors' funds to his private hedge fund and using them to make venture investments, lavish real estate purchases and large political donations, the U.S. Securities and Exchange Commission alleged this week in a complaint. Bankman-Fried was arrested [...]
WASHINGTON (AP) — Still eager to hire, America's employers are posting more job openings than they did before the pandemic struck 2½ years ago. Problem is, there aren't enough applicants. The nation's labor force is smaller than when the pandemic struck. The reasons include an unexpected wave of retirements, a drop in legal immigration and [...]
FORT WORTH, Texas — Faith in the dollar has often hinged in part on what Treasury Secretary Janet Yellen says. Now, the focus is on what she writes, as the government last week began churning out its first currency bearing her signature. Yellen loops her capital "J" and "Y," with the rest of her name [...]
NEW YORK — Wall Street expects the impact of the Federal Reserve's most aggressive year of interest rate hikes in at least three decades to continue to be felt through next year. The central bank's plan to fight stubbornly high prices on everything from food to clothing has been the central focus for Wall Street [...]
WASHINGTON — A measure of inflation that is closely monitored by the Federal Reserve eased but remained at an elevated level in October, likely reinforcing the Fed's intent to keep raising interest rates to cool the economy and slow the acceleration of prices. The report last week from the Commerce Department showed that prices rose [...]
WASHINGTON — Despite high interest rates and chronic inflation, the economy grew at a 2.9 percent annual rate from July through September, the government said this week in a healthy upgrade from its initial estimate. Last quarter's rise in the gross domestic product — the economy's total output of goods and services — followed two [...]
Fidelity Charitable, the nation's largest grantmaker, expects 2022 will be the first year since 2018 that the value of grants from its donor-advised funds exceeds the value of investments going into the funds. Jacob Pruitt, Fidelity Charitable's president, told The Associated Press that donations this year are on track to set a record, even before [...]
WASHINGTON (AP) — Most Federal Reserve officials at their last meeting favored reducing the size of their interest rate hikes "soon''— just before raising their benchmark rate by a substantial three-quarters of a point for a fourth straight time. The central bank's policymakers saw "very few signs that inflation pressures were abating." Still, a "substantial [...]