The Latest Breaking News on Financial Services

DETROIT — Lisa Cook, a member of the Federal Reserve Board of Governors, said the Federal Reserve will continue to work to bring down inflation "until the job is done," which includes increasing interest rates.

Hundreds of Australian bank accounts linked to offshore organised criminals who are sexually extorting Australian teenagers are shut down as part of an AFP operation.

New York (AFP) - Wall Street stocks soared and the dollar fell Wednesday after Federal Reserve Chair Jerome Powell signaled a shift from the central bank's aggressive policy to counter inflation.

A three day strike of more than 2,000 London bus drivers has been called off after a last-minute pay offer.

Prosecutors on Wednesday moved to confiscate $5.4 million from a U.S. bank account belonging to Russian businessman Konstantin Malofeyev, who Washington has accused of financing separatists in eastern Ukraine and Crimea and imposed sanctions on him.

Interactive Brokers is building a cup with handle on the strength of earnings prospects and interest income.

HSBC has said that around 100 staff could leave the bank as a result of plans to axe 114 UK branches from April next year.

Despite widespread market volatility and rising recession fears, the U.S. economy looks resilient enough to deal with a palpable growth slowdown. Experts are hopeful that the broader markets will stabilize eventually. Amid this, investors should exercise caution and consider adding fundamentally strong and defensive stocks Altria Group (MO) and Sprouts…

Jerome Powell warned there ‘was more ground to cover’ and rates would stay higher for an extended period

The Fed’s aggressive monetary policy stance created immense recession fear until the inflation showed signs of cooling down in October, and the policymakers hinted at a slower pace of rate hikes. Amid such an uncertain macroeconomic scenario, investors could consider buying safe-haven stocks Johnson & Johnson (JNJ), The Coca-Cola Company…

Washington (AFP) - The Federal Reserve could ease its pace of interest rate hikes "as soon as" December, chair Jerome Powell said Wednesday, as the US central bank's campaign to cool prices trickles through the world's largest economy.