financial crisis

NEW YORK | Japanese bank Nomura to pay $480M for role in housing crisis

NEW YORK— Japanese bank Nomura is agreeing to pay $480 million to U.S. authorities for its alleged role in the housing market bubble and the subsequent 2008 financial crisis. The Justice Department alleges Nomura defrauded investors by knowingly selling mortgages that were not appropriately underwritten, which led to significant losses once those mortgages went sour. … Continue reading NEW YORK | Japanese bank Nomura to pay $480M for role in housing crisis

NEW YORK | Goldman Sachs, Morgan Stanley both report strong 3Q profits

NEW YORK — The leading U.S. investment banks — Goldman Sachs and Morgan Stanley — each reported third quarter profits that beat analysts’ expectations Tuesday, helped by strong performance in their trading operations and better-than-expected revenue from stock underwriting. Goldman Sachs, the larger of the two banks, reported a profit of $2.52 billion in the … Continue reading NEW YORK | Goldman Sachs, Morgan Stanley both report strong 3Q profits

SAN FRANCISCO | Wells Fargo’s profit rises to $6 billion in latest quarter

SAN FRANCISCO — Wells Fargo, still haunted by multiple scandals, reported higher earnings in the third quarter Friday but still fell short of what analysts were looking for. Wells saw its earnings jump to $6 billion from $4.5 billion in 2017’s third quarter, although last year the bank had to set aside $1 billion for … Continue reading SAN FRANCISCO | Wells Fargo’s profit rises to $6 billion in latest quarter

UNITED NATIONS | Money or not, world can’t drop Palestinian refugees, says UN

UNITED NATIONS— Facing a financial crisis after the United States cut funding, the head of the U.N. agency that helps 5.3 million Palestinian refugees says the problem of their well-being will continue to exist whether there’s money or not — and especially if it was forced to shut down. While the U.N. Relief and Works … Continue reading UNITED NATIONS | Money or not, world can’t drop Palestinian refugees, says UN

WASHINGTON | Trump to nominate economist Nellie Liang for Fed board seat

WASHINGTON— President Donald Trump is set to nominate former Federal Reserve economist Nellie Liang to the central bank’s board of governors, tapping an official who played a key role at the Fed in dealing with the aftermath of the 2008 financial crisis. White House spokeswoman Lindsay Walters confirmed the president’s intention, which was first reported … Continue reading WASHINGTON | Trump to nominate economist Nellie Liang for Fed board seat

Realtors® Chief Economist Reflects on Past Recession, What’s Ahead for Housing

WASHINGTON/ Aug. 27, 2018 (STL.News)– American financial and lending systems look vastly different nearly a decade after the defining moments of the Great Recession, thanks in part to safe and sound lending and regulatory policy reforms, strongly supported by the National Association of Realtors®. Today, home prices are at or approaching record highs in many … Continue reading Realtors® Chief Economist Reflects on Past Recession, What’s Ahead for Housing

VILNIUS, Lithuania | Netanyahu welcomes airlines decision not to fly to Iran

VILNIUS, Lithuania — Israeli Prime Minister Benjamin Netanyahu, on a trip Thursday to Lithuania, welcomed the decision by major international airlines to end their direct flights to Iran’s capital of Tehran in September. The decision by British Airways and Air France came after U.S. President Donald Trump withdrew from the nuclear deal between Iran and … Continue reading VILNIUS, Lithuania | Netanyahu welcomes airlines decision not to fly to Iran

WASHINGTON | Senate panel approves Trump’s nominee for consumer watchdog

WASHINGTON — The Senate Banking Committee on Thursday approved Kathy Kraninger as director of the Consumer Financial Protection Bureau, as Republicans overlooked the protests of Democrats who said President Donald Trump’s nominee is unqualified to lead the consumer watchdog. Kraninger’s nomination received approval in a 13-12 party-line vote. The nomination now goes to the full Senate … Continue reading WASHINGTON | Senate panel approves Trump’s nominee for consumer watchdog