- Irish banker at center of scandal arrested in Massachusetts Updated: Oct-11-15 5:41 pm
BOSTON - A man at the center of Ireland's greatest banking scandal has been arrested in Massachusetts and faces potential extradition to his homeland.
- NY approves Hudson City Savings merger into M&T Bank Corp. Updated: Oct-11-15 9:26 am
ALBANY, New York - New York regulators have approved Buffalo-based M&T Bank Corp.'s application to acquire Hudson City Bancorp Inc.
- Insurers pulling plans is costly problem for MNsure Updated: Oct-10-15 10:40 am
ST. PAUL, Minnesota - Minnesota insurers have routed thousands of customers away from MNsure, a financial boon for the companies but one that creates enrollment and revenue headaches for an exchange already confronting concerns about long-term solvency.
- Development banks boost funding to fight climate change Updated: Oct-09-15 9:17 pm
LIMA, Peru - The world's top development banks pledged Friday to boost their funding to lessen climate change's impact, aiming for the goal of $100 billion a year that rich countries have pledged to transfer to developing countries by 2020.
- Health insurer to stop offering plans on Kentucky exchange Updated: Oct-09-15 7:44 pm
LOUISVILLE, Kentucky - A Kentucky nonprofit that emerged as one of the largest insurance providers on the state's health exchange has given notice that it won't offer plans for 2016, a decision affecting tens of thousands of customers ahead of the next enrollment period starting in a few weeks.
- New Jersey senators ask FTC to delay health care alliance Updated: Oct-09-15 5:28 pm
TRENTON, New Jersey - Two New Jersey senators are asking the Federal Trade Commission to delay the state's biggest health insurer from rolling out a new tiered health care system.
- Lawyer guilty of bank fraud conspiracy in Deep Creek deals Updated: Oct-09-15 4:20 pm
BALTIMORE - A federal jury in Baltimore has convicted a western Maryland lawyer of bank fraud, conspiracy and making false statements about property deals in the Deep Creek Lake resort area.
- 2 Fed officials think data will justify rate hike this year Updated: Oct-09-15 4:19 pm
WASHINGTON - It's a question whose answer seems to be in constant flux: When will the Federal Reserve finally raise interest rates?
- NY Fed chief: Rate hike likely this year but hinges on data Updated: Oct-09-15 1:21 pm
WASHINGTON - The head of the Federal Reserve Bank of New York said Friday that a Fed rate hike remains likely this year but that a final decision will depend on how the economy performs.
- Finance officials to clamp down on multinational tax evasion Updated: Oct-09-15 12:12 pm
LIMA, Peru - Finance officials from the world's 20 biggest economies have committed to toughening laws and boosting cross-border cooperation to prevent multinational companies from avoiding as much as $250 billion a year in taxes.
- Celebration of Peru's economic boom comes late Updated: Oct-09-15 11:54 am
LIMA, Peru - The world's top finance officials lavished praise on Peru's "economic miracle" this week, lauding it for cutting poverty by half during a decade-long bonanza of record-high prices for gold, copper and other metals it mines.
- Fed official still favors 2015 hike but notes dimmer outlook Updated: Oct-09-15 11:19 am
NEW YORK - A voting member of the Federal Reserve's policy committee said Friday that he still thinks an interest-rate increase will be appropriate by year's end. But he acknowledged that the outlook for the economy appears cloudier than it did a few weeks ago.
- Central bank says Malaysian fund broke forex rules, must pay Updated: Oct-09-15 11:13 am
KUALA LUMPUR, Malaysia - Malaysia's central bank said Friday a debt-laden state investment fund violated foreign exchange rules and must repatriate $1.83 billion it used abroad.
- IMF says Iceland has repaid its remaining debt Updated: Oct-09-15 10:41 am
LONDON - The International Monetary Fund says Iceland has repaid all of its remaining obligations - ahead of schedule - as the island nation presses on with its recovery following its economic collapse seven years ago.
- Wyoming loses 1 of its 2 Affordable Care Act insurers Updated: Oct-09-15 10:12 am
CHEYENNE, Wyoming - One of the two companies offering health insurance coverage in Wyoming under the federal health care law has decided to drop out of the program after receiving word that the federal government would be providing drastically less financial help than it expected.
- Johnston power plant sells for $490M Updated: Oct-09-15 8:09 am
JOHNSTON, Rhode Island - A natural gas-fired power plant in Johnston has been sold to a private equity firm for nearly half a billion dollars.
- Construction executives plead guilty in $19M contract scheme Updated: Oct-09-15 6:15 am
PHILADELPHIA - Three eastern Pennsylvania construction executives have admitted they conspired to fraudulently obtain nearly $19 million in federally funded bridge and highway projects through a program for businesses owned by women and minorities.
- US treasury secretary blames Congress for debt limit delays Updated: Oct-08-15 9:21 pm
LIMA, Peru - U.S. Treasury Secretary Jacob Lew admonished Congress on Thursday for not moving fast enough to raise the government borrowing limit at a time of heightened fragility in the global economy.
- Latin America rolls out red carpet for once-scorned IMF Updated: Oct-08-15 5:17 pm
LIMA, Peru - The last time the IMF held its annual meetings in Latin America, Ernesto "Che" Guevara was trying to spread Cuba's revolution throughout the hemisphere and much of the region was under the thumb of repressive dictatorships.
- Clinton seeks crackdown for those breaking Wall Street rules Updated: Oct-08-15 4:09 pm
WASHINGTON - Just days before the first Democratic debate, Hillary Rodham Clinton released a series of proposals aimed at cracking down on bad behavior by Wall Street, vowing that individual bankers who violate the law will be "prosecuted and imprisoned."
- Average US rate on 30-year mortgages falls to 3.76 percent Updated: Oct-08-15 3:36 pm
WASHINGTON - Average long-term U.S. mortgage rates fell sharply this week amid concern over a labor market that has shown recent signs of weakness.
- Low-cost health insurer in Colorado faces uncertain future Updated: Oct-08-15 2:56 pm
DENVER - Colorado's biggest nonprofit health insurer faces an uncertain future, and its 80,000 or so customers don't know whether their insurer will be able to offer new polices when next year's enrollment period begins soon.
- Global worries kept Fed from hiking rates in September Updated: Oct-08-15 2:50 pm
WASHINGTON - Federal Reserve officials were almost ready to raise interest rates in September but held off because of China's economic slowdown and its potential to derail U.S. growth and inflation.
- IMF Chief: We're cooked if we fail on climate change Updated: Oct-07-15 11:28 pm
LIMA, Peru - International Monetary Fund chief Christine Lagarde said Wednesday that failure to take urgent action on global warming will condemn humanity to the same fate as the Peruvian poultry that so many delegates to the group's annual meeting are enjoying this week in a country famed for its cuisine.
- IMF sees recession for Latin America on commodities shock Updated: Oct-07-15 6:21 pm
LIMA, Peru - Latin America's economy is likely to go into recession this year for the first time since the end of the global financial crisis as China's slowdown lessens demand for the region's commodities, threatening to undo recent progress in reducing poverty, the International Monetary Fund said Wednesday.