Business & Finance News
Wells Fargo & Co’s regulator on Thursday announced it had brought civil charges against eight former executives, including former Chief Executive Officer John Stumpf, marking the first federal action against individuals for their role in the bank’s three-year sales practices scandal.
The dollar rose against the euro on Thursday after the European Central Bank held interest rates steady and launched a broad review of its policy that was likely to see new President Christine Lagarde redefine the ECB’s main goal and how to achieve it.
Healthy travel demand is cushioning results for American Airlines Group Inc and Southwest Airlines Co , the two said on Thursday, while warning they are losing customers as their Boeing 737 MAX jets remain parked in a global grounding.
Guyana’s government next month plans to begin a search for an oil company or trading firm to market its share of the South American country’s crude, the director of the Department of Energy, Mark Bynoe, said in an interview.
Wall Street struggled for direction on Thursday as investors digested mixed earnings and developing news about the coronavirus outbreak emanating from China.
Wells Fargo & Co’s regulator on Thursday announced it had brought civil charges against eight former executives, including former Chief Executive Officer John Stumpf, marking the first federal action against individuals for their role in the bank’s sales practices scandal.
U.S. stock indexes fell on Thursday, as mounting worries over a coronavirus outbreak in China and disappointing corporate earnings prompted investors to hit the brakes after a strong start to the year.
French prosecutors investigating a party that former Renault-Nissan boss Carlos Ghosn threw for his wife at the sumptuous Versailles palace will in the next few weeks ask judges to examine the case, bringing a prosecution a step closer.
One of Wells Fargo & Co’s top regulators plans to announce enforcement actions against as many as 10 individuals in relation to the bank’s sales practices scandal as soon as Thursday, a person familiar with the matter told Reuters.
A U.S. bank regulator announced Thursday that several senior former Wells Fargo executives face potential lifetime industry bans and millions of dollars in civil penalties for their roles in the bank’s long-running sales practices scandal.
Oil prices fell 3% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. crude inventories.
S&P Global Ratings on Thursday placed Boeing Co’s ‘A-‘ credit rating on ‘credit watch’ with negative implications, citing a rise in costs and cash outflows at the U.S. planemaker due to a further delay in the grounded 737 MAX’s recertification.
Creditors of bankrupt Philadelphia Energy Solutions are opposing the sale of its oil refinery to Hilco Redevelopment Partners, saying another developer made a more lucrative bid for the site, according to court documents filed on Thursday.
Fears about the future of energy assets have led to a sell-off, but this has created “very good opportunities” for the Carlyle Group, its founder, David Rubenstein, said on Thursday.
From June 30, Goldman Sachs Group Inc will only help take a company public if it has at least one diverse board member, as such companies perform better after listing, Chief Executive David Solomon said on CNBC on Thursday.
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