Federal Reserve fines five banks to wrap up mortgage servicing charges
WASHINGTON (Reuters) – The Federal Reserve fined five large U.S. banks a combined $35.1 million to settle cases of mortgage servicing flaws dating back to 2011.
Mnuchin sees $1 trillion revenue growth from U.S. tax overhaul
WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Friday he believed the Republican tax cuts will ultimately become revenue neutral over 10 years due to higher growth, but the Treasury will likely ask Congress for more money to impl…
Wall Street higher as consumer and bank stocks gain
(Reuters) – Wall Street’s main indexes were higher on Friday as strong December retail sales data drove gains in consumer stocks and bank results pushed up the financial sector.
Year of policy tightening set for early Canadian test
DUBLIN (Reuters) – The Bank of Canada will get the first crack in the coming week at demonstrating whether, as many expect, monetary policy among the world’s major economies is set to tighten more in 2018 than in any year since the crisis.
Rents boost U.S. core CPI; retail sales rise solidly
WASHINGTON (Reuters) – Underlying U.S. consumer prices recorded their largest increase in 11 months in December on gains in the cost of rental accommodations and healthcare, bolstering expectations that inflation will accelerate this year.
Wells Fargo adds $3.25 billion to consumer legal bill in fourth quarter
(Reuters) – Wells Fargo & Co set aside $3.25 billion in the fourth quarter to cover legal expenses related to probes into its mortgage and sales practices, but its 2018 cost outlook met analyst expectations as the bank tries to rebound from the scandal in its consumer banking business.
JPMorgan says tax changes will spur more profits after quarterly beat
(Reuters) – JPMorgan Chase & Co beat Wall Street’s fourth-quarter earnings expectations on Friday and said tax law changes will help future profits by not only reducing the amount it pays the federal government but also by stimulating more business.
Canada welcomes Trump suggestion of NAFTA deadline extension
LONDON, Ontario (Reuters) – Canada welcomes the suggestion by U.S. President Donald Trump that the deadline for concluding talks to modernize NAFTA could be extended beyond the end of March, Foreign Minister Chrystia Freeland told reporters on Friday.
U.S. core consumer prices post biggest gain in 11 months
WASHINGTON (Reuters) – Underlying U.S. consumer prices recorded their largest increase in 11 months in December amid strong gains in the cost of rental accommodation and healthcare, bolstering expectations that inflation will gain momentum this year.
U.S. retail sales rise; core sales revised sharply higher
WASHINGTON (Reuters) – U.S. retail sales increased in December as households bought a range of goods and figures for the prior month were revised higher, suggesting the economy exited 2017 with strong momentum.
