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US DOJ probing Wells Fargo on bogus accounts

Wells Fargo has been under fire since regulators fined the big USA bank $185 million for opening more than two million deposit and credit card accounts without customer authorization. The bank reportedly confirmed to CNN Money (9/9/16) that 5,300 employees had been fired for participating in unauthorized account creation - which involved creating fake PIN numbers and email addresses to open the accounts.

Business

Gold Prices Reach 2-Week Lows On Lower Safe Haven Deand

Chances the US Federal Reserve will raise interest rates in December have shot up in the past month, according to a Reuters poll that showed economists are more convinced a move is on its way despite weak inflation and wage growth. "The market is mostly going to be short ahead of the Bank of Japan's (BOJ) meeting next week. If the BOJ is going for more easing then it might put pressure on gold in line with a strong USA dollar".

Business

Oliver Stone's latest film centers on case

Summarizing its investigation of Edward Snowden, the House Intelligence Committee says the former National Security Agency contractor did tremendous damage to the U.S. It also states that this began to happen eight months before the 2013 Senate testimony from Director of National Intelligence James Clapper, which purportedly prompted Snowden to go rogue, in disgust at his boss's prevarication.

Business

Trump on Clinton guards: Take their guns away

It will be very unsafe". Trump never apologised for the comments, despite angry denunciations from Clinton's running mate, Senator Tim Kaine of Virginia. I finished it I finished it you know what I mean". Then again, precedent has rarely applied when it comes to Trump and suggestions of violence . CNN and other major TV stations did not broadcast Trump's rally as they often do, suggesting the USA media is heeding widespread criticism that it devotes too much attention to the Republican ...

Business

Samsung To Refund, Replace Every Galaxy Note 7 In Australia

Vulture South notes that Samsung is going a few steps further than its minimum responsibilities under consumer law: as well as promising replacement S7 devices, it's going to supply customers with a courtesy device while it gathers together stock.

Business

Eurobank Stocks Under Pressure Amid Deutsche Bank's $14 Billion Probe

Deutsche Bank has vowed to fight a massive demand from the US Department of Justice . Deutsche Bank was already preparing to pay some level of fine or settlement, as it had amassed 5.5 billion euros ($6.2 billion) in litigation reserves as of the end of this past June.

Business

Bayer to acquire Monsanto in all-cash deal; shares jump

Having twice rejected the bid from Bayer and the threat of a hostile takeover bid, Monsanto agreed to the improved offer $ 66 billion (59 billion euros) of the German group announced chemist on Wednesday 14th September. Bayer , the German company that makes aspirin made a big announcement this morning. Elsewhere, US chemicals giants Dow Chemical and DuPont plan to merge and later spin off their seeds and crop chemicals operations.

Business

Ford CEO: Trump Wrong About Mexico Move, 'We Are a Global Company'

He said Ford produces more vehicles and has more hourly workers in the US than any other automaker. Ford CEO Mark Fields appeared on CNN on Thursday afternoon to set the record straight in the automaker's ongoing feud with Republican presidential candidate Donald Trump over the automaker's decision to move the production of small cars to Mexico.

Business

Hermine Continues to Linger Offshore

The storm winds and waves should begin to subside on Tuesday. "All reports indicate that Hermine will stall off our coast until possibly Wednesday", John Latka, senior vice president of electric and gas operations, said in a statement .

Business

Oil rises but gains limited by returning supply from Nigeria and Libya

On Monday, oil prices rose on the back of a weak dollar and reduced expectations that U.S. Federal Reserve will raise interest rates in September. USA stockpiles increased by 1.44 MMbbl last week, the industry-funded American Petroleum Institute was said to report.

Business

Trump's son clarifies 'gas chamber' comment after criticism

Mr Trump's newest letter came as he has been criticised for declining to release in-depth records on his health, taxes, personal fortune and businesses. "I say something, rather than the media asking me about it, rather than saying, 'hey, Don, were you talking about the Holocaust, ' they jump, oh, my God, you were talking about the Holocaust".

Business

Va. Gov. Wants to Prevent Gas Shortage After Pipeline Shutdown

However, a complete restart of Line 1, the gasoline line, has been pushed to next week because of gasoline vapors at the site, the company said. The spill happened just 500ft from a mining company's retention pond, and all of the fuel flowed into it, avoiding Mobile Bay, and sparing the endangered species living in the nearby Cahaba river system from danger.

Business

Mobileye breaks ties with Tesla on grounds of safety

The safety and security of the autopilot feature, which assists the motorists to steer on highways and keep in lanes, came under limelight when Tesla's high-end Model S - installed with the driver assistance program was involved in an accident in May.

Business

Tesla says Mobileye balked after learning carmaker to make own cameras

It has always been Mobileye's position that Tesla's Autopilot should not be allowed to operate hands-free without proper and substantial technological restrictions and limitations. A Chinese man suing Tesla Motors Inc after his son was killed while driving one of the United States auto makers' vehicles argues that the responsiveness of the car's "autopilot" function was responsible for the accident, his lawyer said.

Business

Assad told to allow aid into Aleppo, Moscow says

Gen. Igor Konashenkov as saying two F-16s and two A-10s carried out four strikes. Konashenkov said the USA -led coalition aircraft - two F-16s and two A-10s - entered Syrian airspace from the direction of the Syrian-Iraqi border, adding that the Syrian forces that came under attack had been surrounded by "IS terrorist groups".

Business

Monsanto (MON) CEO Grant, Bayer CEO Baumann Discuss $66 Billion Deal

The $128 a share deal was an improvement over Bayer's previous offer of $127.50 a share. Well, that's not generally the case when a company is acquired at such a huge premium. That bid was turned down by Monsanto which deemed the price inadequate. Monsanto's were up 0.2 percent at $106.3 in premarket trade. Bayer makes a wide range of crop protection chemicals that kill weeds, bugs and fungus, while Monsanto is known for its seeds business and the weedkiller Glyphosate.

Business

North Georgia Fuel Supply Threatened by Pipeline Rupture

With this they can begin to excavate the line to complete the repairs. The burst pipeline has been closed and a secondary line has been opened to bring fuel into Nashville. Pat McCrory to issue an executive order Friday . This kind of longer shift for fuel truck drivers is prohibited by the U.S. Department of Transportation except during emergencies.

Business

Samsung Sells Printer Business to HP for 1.12 Trillion Won SE

However, one of the reasons for splitting Hewlett-Packard into two companies, HP Inc and Hewlett-Packard Enterprise (HPE), was to create two distinct, $56bn areas of focus after years of Hewlett-Packard being seen as a beige box full of unrelated businesses - the company that wasn't Microsoft, IBM, Oracle, Google, or Apple.

Business

'South Park' mocks national anthem controversy in season premiere

Wayne Valley High School co-captain carried a "thin blue flag" onto the field during their home opener against Lakeland High School and dedicated the game to law enforcement. In football-crazy states such as New Jersey, Alabama and MA, some players have faced suspension and others have reported harassment or even threats over their stance.

Business

Ford sees results lower in 2017 amid driverless vehicle push

The Dearborn carmaker plans to build a new $1.6 billion factory in San Luis Potosi, Mexico, and it has always been assumed that small-car production will be moved there. A new four-year contract with the United Auto Workers union created or retained more than 8,500 jobs. Before the financial crisis, the big United States carmakers, riding high on trucks and SUV sales, left the small-car market for dead.

Business

Obama Says U.S. Is Prepared To Lift Sanctions Against Myanmar

The global tour is aimed at securing broad-based worldwide endorsement for the new government (particularly in the context of worldwide doubt regarding the capacity of the National League for Democracy to govern with little to no prior policy experience).

Business

Mario Draghi unraveled 2 of the world's most popular trades

The Nikkei article said that, rather than abandoning its controversial negative interest rate policy, "the BoJ will instead consider taking the minus 0.1 per cent deposit rate further into negative territory". But it would destroy market functions and put bond prices fully under the BoJ's control. On Thursday, the Swiss National Bank and the Bank of England held interest rates steady.

Business

'Not my weekend so far' says off-pace Lewis Hamilton

It really went well. "We made improvements through qualifying". For Hamilton, who has had numerous issues with starts this season, it will be important to get ahead of Ricciardo at the start, for overtaking is very hard on this track. Dutch teenager Max Verstappen will start alongside Hamilton after setting the fourth fastest time for Red Bull , with the Ferrari of Kimi Raikkonen rounding out the top five.

Business

How Trump's 'Penny Plan' adds up to big cuts

So it was yesterday in a speech to the Economic Club of NY in which he outlined a revised tax plan that he insists will increase the nation's economic growth rate to 3.5 percent and create 25 million new jobs over the next decade. Trump is pushing for $4.4 trillion in tax cuts and believes he will vastly accelerate economic growth. Trump so far declined to follow the precedent set since 1976 stating that the reason for this is that his income tax returns are under audit by the IRS , ...

Business

American prez campaign now takes a physical turn

Among likely voters , Libertarian and Green Party candidates Gary Johnson and Jill Stein garnered eight and four percent support. According to Thursday's poll , Donald Trump is the favorite among likely voters with 39 percent of the vote.

Business

North Korea Dismisses US Bomber Flights As Bluff Amid Heightened Tensions

The divided peninsula remains technically at war after the 1950-53 conflict ended with an armistice instead of a peace treaty. "These flights demonstrate the solidarity between South Korea, the United States and Japan to defend against North Korea's provocative and destabilizing actions", said Adm.

Business

2 detained after loaded gun found in carry-on bag at LAX

The site states one of the MC's people took the rap for the bag, but witnesses say it was in Coolio's possession. Airport police said an unidentified 39-year-old man was stopped at a security checkpoint after Transportation Security Administration screeners detected the presence of a firearm in his carryon bag.

Business

What Ivanka Trump Thinks of Her Father's Plans for Working Women

The signature element of the plan, six weeks of paid maternity leave for new mothers whose employers do not now provide coverage, would be financed by eliminating fraud in unemployment insurance . As explained on the campaign fact sheet : Mr. Trump's plan will ensure stay-at-home parents will receive the same tax deduction as working parents, offering compensation for the job they're already doing, and allowing them to choose the child care scenario that's in their best interest.

Business

JGB yields up slightly across curve ahead of BOJ, long weekend

The shift is upending conventional wisdom in the Treasuries market, where the yield curve customarily flattens as the Federal Reserve raises interest rates. Hence a gradual rise in policy rates back to their normal level should be justified with or without serious inflationary threats. Harm Bandholz, chief USA economist at UniCredit, said he expected a rate rise soon - but not in the coming week.

Business

Federal prosecutors examine Wells Fargo over sales practices

The fines also are not that much more than the $125 million one of its top executives, Carrie Tolstedt, will walk away with when she retires this year. 8 settled allegations that it opened credit-card and deposit accounts for customers without their approval, while not admitting or denying wrongdoing.

Business

Lines form at the gas pump in the wake of pipeline spill

The pipeline carries about 1.3 million barrels of gasoline per day from refineries in Houston to distribution centers in the Southeast and Eastern U.S., from Alabama to Atlanta to NY. Federal regulators are investigating the cause of a pipeline leak that spilled as much as 8,000 barrels of gasoline south of Birmingham, Ala. Although not in the Midwest and nowhere near the Missouri River, a gasoline pipeline ruptured earlier this week and prompted governors in Alabama and Georgia to declare ...

Business

How Do You Pronounce Tropical Storm Hermine?

Hermine's position Monday southeast of Nantucket created 20-foot waves and wind gusts of up to 50 kph about 55 miles southeast of the island, Buttrick said. A Tropical Storm Warning remained in effect early Tuesday as the weakening storm lingered south of New England. The strongest winds (40-45mph) will be on Block Island.

Business

Donald Trump Nabs Police Union Endorsement

Jerry Flynn, Executive Director of the New England police officers' association supporting Trump, said the group's decision came down to, "What is the next president of the United States going to do to unite this country in an effort to save police officers?" It declined to make an endorsement in the 2012 election, saying that it would be "irresponsible" for the organization to endorse either Mitt Romney or Barack Obama as neither of them were appropriately concerned with law enforcement ...

Business

Gary Johnson, Jill Stein left off presidential debate stage

Though he's not alone: Green Party nominee Jill Stein also did not qualify under the commission's stringent criteria, which require candidates to average at least 15 percent support in select national polls. Johnson says that while he's disappointed in the CPD's decision, he's not surprised. Johnson released a statement following the news that expressed his disappointment and vowed to be on the stage at the next debate in October.

Business

Clinton bounces back with firm vow

Clinton has to avoid trying to become a blunt-talking personality like Trump. For years Trump has questioned Barack Obama's birthplace, suggesting that he was not born on United States soil - a requirement to be elected president. She should heed the lesson of Jeb Bush, a former governor of Florida, who tried to match Trump's insults at an February debate in SC. "This is a guy who has employed people from all kinds of ethnic backgrounds and promoted people from all kinds of ethnic ...


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