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Senators want Labor Department investigation of Wells Fargo

The Senate Banking Committee held a hearing Tuesday in which Stumpf was sharply questioned. Exclusive discounts on ALM and ThinkAdvisor events. "John made a personal decision to resign as the Twelfth District's representative to the Federal Advisory Council", Mark Folk, a Wells Fargo spokesman, said in an e-mailed statement Thursday.

Business

Jobless rate increases in August

Most economists prefer comparing the year-over-year employment numbers as a better barometer of a region's economic health because monthly figures are not adjusted for seasonal variations, such as students looking for summer jobs or hiring spikes for the pre-Christmas shopping rush.

Business

A Legal Barrier to Higher Interest Rates

Dallas Federal Reserve President Robert Kaplan said on Monday he would have been comfortable with an interest rate increase at the Fed's policy meeting last week when the central bank chose to keep rates steady. If they decide to target inflation rather than full employment, i.e., raise rates to slow the economy, that can increase the overall unemployment rate a bit but the African American unemployment rate much more.

Business

Yellen likely to face questions about Wells Fargo

The Federal Reserve is considering changing the annual stress tests it gives to US banks to see if they can withstand a massive financial crisis, and also using test results to set the capital buffers that banks must maintain to blunt the effects of a downturn, according to its chair, Janet Yellen.

Business

Wells Fargo execs lose pay in scandal linked to bogus bank accounts

Wells Fargo had been under pressure from lawmakers and others to implement its executive compensation clawback provisions after the bank agreed to pay $185 million to settle allegations its employees opened millions of accounts without customers' permission to reach aggressive sales targets.

Business

Deal reached to keep US government running, help Flint

The stopgap spending bill would keep the government running through December 9 and provide $1.1 billion in long-delayed funding to fight the spread of the Zika virus and develop a vaccine and improved tests to detect it. But the Democratic position softened after negotiations involving Ryan and top House Democrat Nancy Pelosi of California, among others. But Democrats said they weren't confident that House Republicans would go along with that plan-and that residents of Flint deserved more ...

Business

Yellen says rate hike likely appropriate this year

Democratic presidential nominee Hillary Clinton has said that the president and candidates running for president should not weigh-in on monetary policy decisions. Meanwhile, the Federal Funds Rate has come up a mere 25 basis points. Yellen told Congress that the Fed is considering raising capital requirements for big banks even as the companies have made significant progress in recent years.

Business

Cabot Corporation (NYSE:CBT) Makes Public Its Dividend Alert Of $0.3

These analysts polled by Zacks Research now have a mean target price of $54.333 on the stock. Cabot Oil & Gas Corporation (NYSE:COG) mean price target stands at $29.07. Ratings and estimates change daily and thus the numbers may differ slightly if a new report has been issued within the last 24-hours. Cabot Corporation's has so far paid an average of $0.3 per year to its shareholders during the last five years as per dividend's payment track record.

Business

Trump touts debate performance in Florida rally

House Speaker Paul Ryan (R-Wis.) dodged as well when asked about Trump's attacks on Machado. The Washington Post had Clinton at the top of its "winners" list. "I really eased up because I didn't want to hurt anybody's feelings", Trump said. "The question for the audience - did they interpret that as an attempt of a male candidate to disadvantage a female candidate", said Jamieson.

Business

Children, 1 Adult Injured In SC Elementary School Shooting

According to FOX Carolina , the shooting may be connected to the scene of a second homicide at a location about three miles away. South Carolina Highway Patrol is on scene helping to clear rooms and secure the scene. The evacuated students moved by bus to Oakdale Baptist Church at 6724 Highway 24 in Townville. The injured people were taken to nearby hospitals.

Business

Ola adds Siri & Maps integration for iPhone, iPad users

The last hacker group to release a working jailbreak software for a recent iOS version is Pangu but up to now, there are still no words regarding the possible release of the iOS 10 jailbreak . This type of brute force attack is much more apt to work on iOS 10 . According to Elcomsoft , the same 10,000 passwords are used for 30% of accounts.

Business

'New Era in Agriculture': Bayer Takes Monsanto for $66 Billion

However, the deal faces intense scrutiny from European and USA anti-trust regulators with analysts predicting a 50% chance of approval of the new company, which will be presiding over 25% of the world's seed and pesticide supplies. Bayer initially offered $122 months ago when negotiations began. For example, a merger between DuPont and Dow Chemical that was agreed upon in December of past year is unlikely to close until early 2017 after the European Commission started an investigation.

Business

Oil rises on suprise inventory draw

With regards to the meeting of oil producers in Algeria, the general feeling is that an agreement to cut or freeze oil production is looking increasingly unlikely as the International Energy Forum draws to a close. Distillate product supplied averaged over 3.5 million barrels a day over the past four weeks, down by 6.4% compared with the same period previous year.

Business

Lloyds Banking Group PLC (ADR) (LYG) is Downgraded by Goldman to Sell

Lloyds Banking Group Plc had its "hold" rating reiterated by analysts at Deutsche Bank. However, the United Kingdom market index has surged almost 18 percent since a post-Brexit sell-off three months ago and is up more than 9 percent so for this year thanks to supportive central bank policies and the resilience of leading economic indicators.

Business

A record number of Americans watched Trump and Hillary duke it out

During multiple interviews, Trump blamed his microphone for how his debate performance was received. Meanwhile, actress Rashida Jones ("Angie Tribeca") found that Trump's delivery spoke to her in a way she found deeply disconcerting after a lifetime spent in the industry.

Business

Airtel makes incoming calls free on global roaming

The new packs announced are valid for postpaid and prepaid customers. Customers can activate the smart pack through the Airtel website, myAirtel app, USSD, and customer contact centres. All prices and benefits mentioned above are for postpaid . The $75 pack for U.S. and Canada, for example, with 30 days validity offers 3GB data, unlimited incoming calls, 400 minutes of calls to India, and unlimited texts to India.

Business

At the first debate, Hillary got under Donald's skin

Republican presidential nominee Donald Trump announced Tuesday afternoon that his campaign has raised more than $13 million in the past 24 hours. Trump has said he can't release his tax returns because he is being audited, though tax experts have said an audit is no barrier to making the information public.

Business

Wells Fargo to drop retail sales goals on October 1

Last week, Warren slammed Stumpf for "gutless" leadership, in part for his refusal to cut compensation for Tolstedt, who led Wells Fargo's community banking division during the entire time fake accounts were created. We are deeply concerned by these matters, and we are committed to ensuring that all aspects of the company's business are conducted with integrity, transparency, and oversight.

Business

U.S. stocks gain as Fed keeps rates unchanged

At 11:08 a.m. ET (1508 GMT), the Dow Jones Industrial Average .DJI was up 124.2 points, or 0.68 percent, at 18,417.9. PULLED A RABBIT: Open source software company Red Hat rose $3.89, or 5 percent, to $80.86 after the company reported better than expected results in its second quarter.

Business

Individual sues Yahoo over data breach

The senators said they were "disturbed" that a breach of that size wasn't noticed at the time. The FBI who is now looking into the matter released a statement saying, "We have regular contact and good working relationships with our private sector partners and the compromise of public and private sector systems is something we take very seriously".

Business

Galaxy Note 7 Replacements Arrive in U.S.

According to USA media, all major networks across the pond are now stocking the device again. The federal agency confirms that Samsung Galaxy Note 7 users may receive a free replacement from Samsung, the retail outlet where they bought the phone or their wireless carrier.

Business

Viacom-CBS Parent Company to Call for Merger

Representatives for Viacom, CBS and National Amusements declined to comment. The oft-foretold reunification of CBS Corp. and Viacom Inc. may be moving closer to reality. Moonves has expressed reluctance about a combination, saying that CBS was well positioned as is. His contract allows him to leave if he no longer reports to the board or is replaced as chairman.

Business

Ford confirms small vehicle production moving from United States to Mexico

Initially, the company plans for its self-driving cars used for ride-sharing services in cities like using it as robot taxis and shuttle buses. Both the Focus and C-Max tall wagon are now built at a Ford plant in Wayne, Michigan, but production will be moved to Mexico within the next two to three years, Fields said.

Business

Dollar gives back some against the yen

The Nikkei dipped about 1.8 percent or 295.32 points to settle at 16,388.61 at the close of trade. Tokyo shares rose on Tuesday as investors gave Hillary Clinton the nod against rival Donald Trump in the first USA presidential debate.

Business

Montreal passes controversial legislation banning pit bulls

Mayor Denis Coderre has repeatedly championed the legislation as being in the interest of public safety, but the ban's numerous opponents point out it will result in huge numbers of innocent, friendly dogs being put to death. Guillaume Lavoie said prior to the vote. City council voted Tuesday in favour of changes to its animal control bylaw that include a ban on new ownership of pit bull and pit bull-type dogs .

Business

Wells Fargo investigation only in third inning, Rep. Hensarling says

Sen. Warren, the progressive crusader from MA, made the most of her opportunity, calling Wells boss John Stumpf "gutless" and urging him to resign. Employees at the bank known for its stagecoach logo say the huge pressure to sell, coming directly from top executives, spurred them to push products customers did not need nor want.

Business

Wells Fargo's Scandal Costs Its CEO Millions - Which Isn't Much To Him

Also on Tuesday, Wells Fargo said it cut ties with its community banking division head, Carrie Tolstedt. Nor will he receive a bonus for 2016. The penalties represent one of the biggest financial sanctions ever levied against a major bank boss and mark a sharp change from a few years ago when despite scandals at large banks, no CEO had to give back a bonus.

Business

Michelle Obama featured in Clinton TV ad

The Keystone state's voter registration deadline is October 11. Trump was hoping to regain his footing after veering into problematic territory the day before, when he revived his decades-old criticism of a former beauty pageant victor for gaining "a massive amount of weight".

Business

Williams Says Economy Can Handle Rate Hike

If this happens, the Fed could be forced to raise rates faster than policymakers would like to, she added. A 2016 Gallup poll found that just 38 per cent of Americans have trust in Yellen, lower than her predecessors Bernanke and Alan Greenspan - who averaged a 65 per cent confidence rating over the last five years of his chairmanship.

Business

Nasdaq hits record high after Fed

As a result of this boost for gold, price action has made some clear technical moves. It's really brought an environment that is beholden to what the central banks are going to do. Many economists disagree with the Fed's decision. The Fed kept interest rates unchanged Wednesday, a was largely expected, but hinted at a possible rate hike before year's end.

Business

US House leaders reach deal on Flint, could avert gov't shutdown

Democrats said they're holding out to add money to help residents affected by lead-tainted water Flint, Michigan. Menendez, of Paramus, noted that the bill includes emergency funding to address flooding that happened last month in Louisiana, but did not address the problems that have confronted Flint residents for far longer.

Business

Global stocks up as traders follow US presidential debate

London's FTSE 100 advanced 0.2 percent to 6,830.99. With the bank now having a market capitalisation of around $17 billion, a fine of even half the size the DoJ is seeking would severely impact Deutsche Bank's viability, and the confidence of other market counterparts to do business with it.

Business

Qatar Airways, BA parent IAG set up revenue-sharing deal

The deal will also include connecting services to destinations in the United Kingdom, continental Europe, Middle East, Asia and Africa. The deal will see the two airlines codesharing on all non-stop flights between the United Kingdom and Doha.

Business

Investors Catching Stocks: Ford Motor Co. (NYSE:F)

Ford Motor Company (NYSE:F) now has P/E (Price to Earnings) ratio of 5.34 while the company's industry has 22.74 P/E and the sector P/E is 27.65. In other news, VP Thomas S. General Motors's dividend payout ratio is presently 19.46%. The stock's market capitalization arrived at $49.67B and total traded volume was 12.7 million shares.

Business

US Defense Secretary promises improvements to nuclear triad during MAFB visit

Minot retains B-52 bombers and nuclear-tipped Minuteman III missiles. The U.S. official also thinks Russian Federation "seems more willing to use nuclear weapons than the Soviet Union was during the Cold War". The US has increased its spending on missile defence in order to counter North Korean missile threats. "It is essential that the USA maintains its nuclear deterrence".


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