Facebook Pressed on Protections for Cryptocurrency Users
House lawmakers questioned Facebook about how its cryptocurrency should be regulated and its plans to protect users, underscoring the political hurdles facing the company as it seeks to issue the digital cash called Libra.
Consumers Lift Profit at Bank of America
U.S. consumers propelled Bank of America's profit in the latest quarter, though the bank warned it could take a hit from any Federal Reserve rate cuts.
Madoff Investor Kingate to Pay Back $860 Million
One of the largest offshore fund managers that channeled cash to Bernard Madoff will return $860 million in stolen money under a settlement with the liquidators cleaning up after his Ponzi scheme.
Bank of Korea Cuts Base Rate to 1.50%
The Bank of Korea unexpectedly cut interest rates for the first time in three years, responding to pressure to ease policy as economic growth slows.
Italian, Greek Bonds Rally as Hunt for Yield Expands
Investors are buying bonds from once-avoided European countries, spurred by expectations that ongoing easy-money policies from central banks will continue to fuel demand for debt.
Front-Runner List to Lead IMF Narrows to Eurozone Candidates
The list of front-runners to succeed Christine Lagarde as head of the International Monetary Fund is now focused on four eurozone candidates, according to several senior European officials.
PNC Financial's Profit Lifted By Loans, Revenue
PNC's profit increased in the second quarter, driven by strong growth in loans, deposits and revenue.
Consumer Watchdog Wants to Work With Financial Companies to Encourage Saving
The federal consumer agency set up after the financial crisis to oversee the financial industry wants to work with firms on joint research to encourage people to save more.
Bank of New York Mellon's Revenue, Earnings Fall
Earnings at Bank of New York Mellon decreased in the company's second quarter as fee revenue slipped 3% from the same period a year ago.
Borrowing Lifts Earnings at U.S. Bancorp, PNC
Two of the largest regional lenders in the U.S. reported that strong borrowing spurred higher revenue and profits in the latest quarter.