News Highlights: Top Financial Services News of the Day
Fed's Powell Affirms Flexible Rate Outlook
Federal Reserve Chairman Jerome Powell reiterated the central bank would be patient in raising interest rates this year after global growth worries gripped financial markets in recent weeks.
Fed's Clarida Says Monetary Policy Isn't on a Preset Course
The Federal Reserve's No. 2 official said Thursday that low inflation should allow the central bank to be patient in contemplating future interest-rate increases, echoing comments from his colleagues in recent days.
Mortgage Rates Hit Lowest Point in Nine Months
Mortgage rates fell again in the latest week, hitting their lowest point in the past nine months, a move that could propel more activity in the U.S. housing market by prompting more consumers to buy or refinance.
World Bank Lays Out Ground Rules for Selecting Next President
The World Bank said it would accept nominations from around the world for its next president starting next month, with a goal of having the new chief in office for the bank's spring meetings in early April.
Fed Sent Lower Remittances to U.S. Treasury in 2018
Federal Reserve payments to the U.S. Treasury declined in 2018 as the central bank's expenses rose along with short-term interest rates.
BlackRock Cutting Roughly 500 Jobs
BlackRock is cutting about 500 jobs as the world's largest money manager looks to simplify parts of its business and focus more on areas such as technology, retirement and alternative investments.
Stockpicker Jeffrey Vinik Plots His Third Comeback
Prominent stock picker Jeffrey Vinik is planning to launch a hedge fund out of Tampa, Fla., in what would mark his third return to investing clients' money.
BlackRock Elevates Potential Successor to CEO Laurence Fink
A potential successor to BlackRock Chief Executive Laurence Fink has a new job that gives him broader reach inside the world's biggest asset manager.
Fed Is Unlikely to Raise Rates in Next Months
Federal Reserve officials signaled they are unlikely to raise interest rates for at least a few months while they assess the impact of recent market volatility on the U.S. economy.
Bank of Canada Holds Key Rate Steady at 1.75%
The Bank of Canada held its key interest rate steady at 1.75% as weak global oil prices prompted it to lower its growth forecast for this year and pause further rate increases.