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South Korea to widen Takata air bag recall by 110,000 vehicles

South Korea said on Wednesday that 13 automakers will recall some 110,000 vehicles equipped with Takata Corp's defective air bags, the latest development in a long-running safety crisis involving the Japanese company. The United States in May announced a new round of recall of Takata's air bag inflators which have been linked to at least 14 deaths and more than 100 injuries and triggered the largest-ever auto recall. South Korea's transport ministry said a total of 221,870 vehicles

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South Korea to widen Takata air bag recall by 110,000 vehicles

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OPEC set for no deal as Iran rejects Saudi oil output offer

Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find

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OPEC set for no deal as Iran rejects Saudi oil output offer

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Wells Fargo CEO forfeits millions as board orders review

(Reuters) – Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company's board investigates the bank's sales practices. Carrie Tolstedt, the former head of the retail division at the center of a burgeoning sales scandal, has left the company ahead of her planned Dec. 31 retirement date, will get…

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Wells Fargo CEO forfeits millions as board orders review

officer-john

Wells Fargo CEO forfeits millions as board orders review

(Reuters) – Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company's board investigates the bank'…

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Wells Fargo CEO forfeits millions as board orders review

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Senate Republicans seek probe of Mylan EpiPen oversight

By Brendan Pierson NEW YORK (Reuters) – Mylan NV faced new scrutiny over price hikes for its anti-allergy EpiPen on Tuesday, with U.S. lawmakers calling for a probe of oversight of the company’s rebates to government healthcare plans…

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Senate Republicans seek probe of Mylan EpiPen oversight

officer-john

Senators push Wells Fargo CEO on pay clawbacks after bogus accounts

U.S. Senate lawmakers excoriated Wells Fargo & Co's chief on Tuesday for his oversight of the bank as it opened 2 million bogus customer accounts, potentially laying the groundwork for new rules and reviving questions of whether banks are “too big to fail.” Chief Executive Officer John Stumpf told the Senate Banking Committee on Tuesday that customers who had bogus accounts opened in their name will be made whole and compensated for any damage to their credit rating, but some Democratic senators called for…

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Senators push Wells Fargo CEO on pay clawbacks after bogus accounts