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Global stock markets set for modest gains in 2017: Reuters polls
Global equities are forecast to rise modestly in 2017, held back by concerns about the pace of U.S. Federal Reserve interest rate hikes and the waning effect of widespread monetary stimulus that has helped drive shares to lofty heights, Reuters polls show. View original here: Global stock markets set for modest gains in 2017: Reuters polls Read More →
Oil prices down on profit-taking after two-day jump
Oil prices dropped on Friday on profit-taking, after rising 7 percent in the past two sessions, amid doubts that OPEC's first planned output cut in eight years would make a substantial dent in the global crude glut. NYMEX crude for November delivery was down 8 cents at $47.75. Both Brent and NYMEX Go here to read the rest: Oil prices down on profit-taking after two-day jump Read More →
Goldman feels the heat in Asia as IPO engine slows
By Denny Thomas and Sumeet Chatterjee HONG KONG (Reuters) – Goldman Sachs failed to make it to the upper echelon of Asia's equity market fee earners for the first time in more than a decade, hit by a squeeze in fees that is prompting the U.S. bank to cut back jobs in the region. Goldman has shared dominance of the Asia Pacific equity capital market arena with UBS and Morgan Stanley since... [Read more]
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 a compromise this week to help ease a global glut of crude. “The gap (in views) between OPEC countries is narrowing. Oil prices have more than halved from 2014 levels due to oversupply, prompting OPEC producers and rival... [Read more]
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'… See the original post: Wells Fargo CEO forfeits millions as board orders review Read More →
U.S. Labor Department launches review of all Wells Fargo complaints
By Sarah N. Lynch WASHINGTON (Reuters) – U.S. Labor Department Secretary Thomas Perez on Monday pledged to conduct a “top-to-bottom” review of all cases, complaints and other alleged violations that… Read the original: U.S. Labor Department launches review of all Wells Fargo complaints Read More →
Target shakes up online leadership with eye on rivals
By Nandita Bose CHICAGO (Reuters) – Target Corp said on Friday its chief digital officer has left the company amid a company overhaul of its e-commerce operations to boost online sales and better compete with larger rivals such as Amazon.com Inc . Target said Jason Goldberger, who had been with the company for four years, will leave immediately. Read more here: Target shakes up online leadership... [Read more]
Former employees file class action against Wells Fargo
Two former Wells Fargo & Co employees have filed a class action in California seeking $2.6 billion or more for workers who tried to meet aggressive sales quotas without engaging in fraud and were later demoted, forced to resign or fired. The lawsuit on behalf of people who worked for Wells Fargo in California over the past 10 years, including current employees, focuses on those who followed the... [Read more]
Takata failed to report 2003 air bag rupture to NHTSA
Japanese air bag supplier Takata Corp said it failed to inform the U.S. auto safety agency of a 2003 rupture of one of its air bag inflators in Switzerland, according to an internal Takata report released by U Original post: Takata failed to report 2003 air bag rupture to NHTSA Read More →
Fed’s internal split tied to dueling views on jobs outlook
The split at the Federal Reserve over when to next raise interest rates appears to hinge largely on disagreements over the labor market outlook, comments from policymakers on Friday suggest. When the Fed earlier this week decided to stand pat on rates, Fed Chair Janet Yellen said she felt the labor market had more room to run before it could overheat. On Friday one of the dissenters, Boston Fed chief... [Read more]