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Wells Fargo loses world's most valuable bank tag after fake account fiasco

The fines from federal and state regulators, however, are less than the more than $200 million that the stock in the company held by company's chief executive, John G. He hinted at that story in an interview in The Wall Street Journal , throwing employees under the bus and saying that the fraud was their fault, while simultaneously claiming the company never created an "incentive to do bad things".

Business

Pizza the 'world's saddest' polar bear offered home at Yorkshire Wildlife Park

Pizza has been described as the "world's saddest" polar bear , and it's not hard to see why. Pizza the polar bear resides at the Grandview Aquarium in the Chinese city of Guangzhou and Britain's Yorkshire Wildlife Park has issued a request to move him to their habitat that is created to house the snow white animals.

Business

Smart Cities: In new list of 27, Maharashtra, Karnataka, TN big winners

Nagpur can now heave sigh of relief as it has finally crossed its first barrier in way to become a smart city. According to the guidelines of the mission, the government was to select 20 cities in the first phase and 40 in the next two years.

Business

Bank of England says keeps interest rate at 0.25%

Yes, I am sure the government wants to be seen to be supporting big infrastructure projects, for example, but with the economy looking stronger than expected do not expect a spending splurge to fix a roof that might be slightly less broken than many predicted.

Business

British sporting glory behind sparkling sales revival for Big Four supermarkets

Once again it was left to the cut-price operators to set the pace, with sales at Lidl leaping 9.5% and revenues at Aldi roaring 11.6% higher. Investors will be seeking confirmation of Tesco's improving fortunes when the retailer reports first-half earnings on October 5.

Business

Leicester City fans prepare for historic European night

Riyad Mahrez scored twice in Belgium, last season's PFA Player of the Year returning to his best form after a muted start to the domestic campaign for him and the Premier League champions. Reflecting on the game as a whole, Ranieri added: "It was an important win for us, after the Liverpool defeat". To go anywhere away from home in Europe, let alone in your first match, and put in a performance like that is impressive.

Business

Ford confirms small-car production moving from United States to Mexico

Ford expects the move will help the company make its production simpler and less expensive. Trump in his visit to Flint this week focused on the contamination of the city's drinking water but also addressed Flint's history as a hub of auto manufacturing.

Business

Paypal Holdings Inc (PYPLV) Given "Hold" Rating at Canaccord Genuity

PYPL EPS growth this year and EPS growth next year is 190.90%, 15.93% respectively. Shares of electronic payments pioneer PayPal Holdings (PYPL) are down 49 cents, or 1%, at $40.21, after Canaccord Genuity's Michael Graham this morning cut his rating on the shares to Hold from Buy, and cut his price target to $40 from $45, writing that the factors behind a recent surge in the shares "are well understood and largely reflected in estimates".

Business

Ascena Retail Group (ASNA) Is Losing Ground After Weak Q4 Report

Ascena Retail Group Inc. Fiscal 2016 reflected a 53-week fiscal year for the Company, and as a result, the Company's fourth quarter GAAP results for Fiscal 2016 reflect a 14-week period, while non-GAAP adjusted results reflect a 13-week period comparable to the prior year 13-week period.

Business

Who "broke" the black-tie dress code at USA Emmy Awards 2016

Two shows that address race - Master of None and Key and Peele - took home trophies for Best Writing for a Comedy Series and Best Variety Sketch Show, respectively. "I wonder if he's having a viewing party with the guys". I don't think it is", he said, before moving on to the line that sounded more prepared: "A lot of people wonder what " Transparent " is doing in the comedy [category].

Business

United States to give Israel $38bn in military aid over next 10 years

The deal covers the period from 2019 to 2028 and will see Israel receive $3.3 billion per year in foreign military financing - up from $3.1 billion per year now - and $500,000 per year in funding for missile defense. Jonathan Schanzer, vice president for research at the Foundation for Defense of Democracies, a Washington think tank, said the new yearly total, $3.8 billion, does not represent a significant increase overall.

Business

Clinton on combatting terror: 'I know how to do this'

On Monday, an Afghanistan-born American suspected in some of the incidents was arrested in nearby Linden, New Jersey, after a gun battle with police. The possibility of a home-grown terrorist plot cast a new shadow over the presidential race, diverting both candidates' attention from the daily controversies of the campaign and giving them a high-profile opportunity to make their case to undecided voters.

Business

Oil Falls on Inventory Data, Libya Report

Oil fell on Tuesday following a series of gloomy predictions on demand growth that suggested the global overhang of unused inventories may persist for much longer than investors anticipate and temper any pick-up in price. Gasoline stocks rose by 567,000 barrels, compared with analysts' expectations for a 343,000-barrel gain. On the supply side, rising output by members of the Organization of the Petroleum Exporting Countries has more than made up for falling output among non-OPEC countries, ...

Business

New York Jets: Five Takeaways From Week 2 Win

He was dismissed despite scoring 31 points against the Jets , but after dealing with a significant clock issue late in the game. However, Bills guard Richie Incognito has the faith in Lynn and the team to put up a good gameplan and focus on executing on offense.

Business

Oil rebounds as API data shows modest stockpile build

Demand growth is slowing and supply is rising, it said. "That is the big question today", the IEA wrote in its closely watched monthly oil market report . "Members of OPEC ... are set to discuss "freezing" their production levels with big oil producers outside the group such as Russian Federation". "At its current level, investment may be insufficient to maintain oil and gas production, indicating tighter markets ahead  Oil markets are likely to rebalance before gas markets, with ...

Business

Grab raises US$750 million in record South-east Asia funding round

Grab is considered the leading ride-hailing platform in the region, operating in almost twice as many cities as Uber , with the startup claiming up to 1.5 million bookings a day. Its previous Series E funding exercise in August past year was reported to have raised it US$350 million (RM1.4 billion). "The vision is to drive Southeast Asia transportation forward and transform the region's mobile internet ecosystem".

Business

Wells Fargo CEO owes an explanation to its customers, says Hillary Clinton

Wells Fargo , known for setting aggressive sales goals for its employees, announced last Wednesday that it will remove all product sales goals in retail banking, effective Jan 1, 2017. It included "clawing back" the compensation of individual executives involved in wrongdoing and breaking up big banks that are not managed effectively.

Business

Wells Fargo CEO to apologize for betraying customers' trust

Stumpf, 63, has placed much of the responsibility on junior employees such as bank tellers. Regulators in April proposed tighter restrictions on how Wall Street bankers are paid and are finalizing the rules. Democratic presidential candidate Hillary Clinton on Tuesday released an open letter to Wells Fargo customers saying she was "deeply disturbed" by the revelations.

Business

Wells Fargo's Chief Risk Officer for Retail Bank Takes Leave

Ahead of the Senate Banking Committee hearing Tuesday, several members of the panel on sent a letter to Wells Fargo Chairman and CEO John Stumpf asking whether the bank would use its clawback authority to recoup compensation paid to senior executives, including Carrie Tolstedt, Wells Fargo's former senior executive vice president of community banking.

Business

3 foreign workers kidnapped in southwestern Libya

The two Italian construction workers were identified as Cacace Bruno and Danilo Calonego while the Canadian worker was only identified as Frank. The Canadian government said it was aware of a "troubling yet unconfirmed report of the abduction of a Canadian citizen in Libya".

Business

TPG Telecom s net profit jumps 69%

Capex is due to increase from AU$281 to between AU$370 million and AU$420 million, TPG said, due to spending on spectrum and fibre rollout. Of the remainder, TPG's consumer fixed broadband service revenue increased to AUD605 million from AUD544 million, though turnover from mobile and "other" services offered to residential users declined by more than 17% year-on-year to AUD69.3 million.

Business

GSK names Emma Walmsley as new chief executive

However, the fact that she is in such a top flight company - the sixth biggest in the United Kingdom - will be seen as a victory for equality campaigners. She joined GSK in 2010 from a 17-year stint at L'Oreal, after holding a variety of marketing and general management roles in the UK, Europe and USA.

Business

Bank of England notes upside economic news as it holds rates

In a bid to cushion any adverse impact from "Brexit", policymakers had lowered the key rate by a quarter-point in August, which was the first cut in more than seven years. " A number of indicators of near-term economic activity have been somewhat stronger than expected " since August's rate cut, the minutes said, and the committee now expects less of a slowdown in growth in the second half of 2016.

Business

Clinton Slams Trump Over 'Birther' Flip-Flop

He taunted Clinton for not using the term "radical Islamic terrorist". "This is going to be close", she added. ABC anchor Martha Raddatz grilled Indiana Gov. "And we have an obligation to speak to them". We better get very, very tough. She said, "We're going after the bad guys and we're going to get them, but we're not going to go after an entire religion".

Business

Sports Direct hands working practices probe to independent party

British retailer Sports Direct said it will order an independent inquiry into its working practices and corporate governance, responding to demand from some shareholders as it seeks to fix its battered image. Sports Direct has already reacted to criticism of its working practices by pledging to abolish zero-hours contracts for its directly employed casual retail staff.

Business

Florida poll: Clinton, Trump virtually tied

She explained that the "service" part of "public service" has always been easier for her than the "public" part. "Clinton may be banking that simply not being Donald Trump will provide her an exploitable edge for the election". Younger voters overwhelmingly backed President Barack Obama in 2012 - giving him a 29 point lead over Republican nominee Mitt Romney, according to exit polls.

Business

Victor Cruz: Cruz returns to fantasy relevance with 91 yards

The good news is the Saints held the Giants to 64 yards rushing on 32 carries, and are 1 terrible 70 yard run by the Raiders from having 2 very solid weeks against the run. Williams was taken to a hospital after he suffered a concussion while tackling Giants tight end Larry Donnell in the first quarter. Williams had a CT scan on his spine, and the Saints were hopeful for him to make the flight home.

Business

Hartford Financial Services Group (The) (HIG) Shares are Up 1.83%

The stock finally closed in the red at $42.06, a loss of -0.83%. Hermes Investment Management Ltd.'s holdings in PNC Financial Services Group were worth $18,918,000 as of its most recent filing with the SEC. The price/earnings ratio (P/E) is 12.95 and the forward P/E ratio stands at 10.25. The analysts' current consensus range is $0.82-$1 for EPS. Revenue for the quarter was $4.51B while analysts had expected revenues to come in at $4.67B.

Business

NC activates emergency ops center due to gas shortage

DeHaan noted that "prices in neighboring states and regions may also rise as gasoline supply is diverted". "Deliveries have been made to the Nashville area since Saturday on the alternative pipeline, then the repairs on the pipe that had broken should be finished sometime midweek or later this week", Executive Director of the Tennessee Petroleum Council Mike Williams said.

Business

Iran says too early to discuss oil output freeze at Algiers

Tehran says it supports any measures to stabilize the market. Iran has been trying to regain market share after the United States and other nations lifted nuclear-related sanctions. "As soon as we come back to pre-sanction levels, we will be ready to discuss quotas and level of production", Mohsen Ghamsari, director for global affairs at National Iranian Oil Company, said in an interview in Singapore.

Business

$124 million payday for Wells Fargo exec who led fake accounts unit

The fines from federal and state regulators, however, are less than the more than $200 million that the stock in the company held by company's chief executive, John G. The pressure cooker environment is also described in a lawsuit filed by Los Angeles against Wells Fargo in May 2015. On Sept. 13, Wells Fargo stock dropped almost 3.2 percent.

Business

Emmys: Maggie Smith Accepts Her Award With a Message for Jimmy Kimmel

She tweeted through the Masterpiece PBS Twitter account . If Mr Kimmel could please direct me to the lost and found office I will try and be on the next flight. Later she had the audience eating out of her hand when she said: "I feel so lucky to be on a show that puts women at the centre". But is she here in this audience tonight? "The more I learned about the real Marcia Clark.

Business

Alberta to add 5GW of new renewable capacity to meet 2030 target

Phillips said there are a number of ways the government may encourage more development of renewable energy generation, and that further details will be rolled out in the coming months. Earlier this year, the company also unveiled a 5-megawatt solar power plant in the shape of a "not-so-hidden-Mickey" to meet the energy needs of Walt Disney World Resort and its customers through an agreement with the Reedy Creek Improvement District.

Business

Gold rises as dollar eases ahead of Fed meet, China buying

Gold rose for a second day amid speculation that Federal Reserve policymakers will again stay their hand on an interest rate increase when they gather this week, opting instead to signal the potential for a hike at the year's final meeting in December.

Business

European shares slide, led by plunge in Deutsche Bank

The penalty aims to settle the U.S. Justice Department's allegations tied to mortgage-backed securities, dating back to 2005, about the way the bank selected mortgages, packaged them into bonds and sold on to investors. The shares fell as much as 2.6 percent in Frankfurt trading and were 0.9 percent lower as of 11:44 a.m., pushing the loss for this year to 47 percent.


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