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Wells Fargo sales scandal extends to brokerage unit: U.S. senators

Wells Fargo & Co fired hundreds of brokerage employees for improper sales practices, three U.S. senators said on Thursday, widening the scope of a scandal which the fourth-largest U.S. bank has so far characterized as a retail banking problem. In a letter to Wells Fargo Chief Executive Tim Sloan, Senators Elizabeth Warren, Ron Wyden and Robert Menendez questioned the bank's disclosures about those employees' dismissals in required regulatory filings.

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Wells Fargo sales scandal extends to brokerage unit: U.S. senators

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Slowdown in orders, hiring curbs U.S. services sector growth

Other data on Thursday showed planned job cuts by U.S.-based employers dropped 31 percent to a five-month low last month. The mixed reports came a day after the Federal Reserve offered a fairly upbeat assessment of the economy and signaled it could raise interest rates next month.

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Slowdown in orders, hiring curbs U.S. services sector growth

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U.S. manufacturing activity slumps, construction spending falls

By Lucia Mutikani NEW YORK (Reuters) – The U.S. manufacturing sector contracted further in December, as the impact of a stronger U.S. dollar undermined export profitability, while U.S. construction spending fell for the first time in nearly 1-1/2 years in November, suggesting only moderate economic growth in the fourth quarter of 2105. The U.S. Institute for Supply Management (ISM) said its index of national factory activity fell to 48.2 from 48.6 in November and is now at its lowest level since June 2009. A reading above…

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U.S. manufacturing activity slumps, construction spending falls