Wells Fargo brokerage to return $3.4 million for risky products
NEW YORK (Reuters) – A brokerage industry regulator on Monday ordered Wells Fargo & Co to return $3.4 million (2.56 million pounds) to customers after selling them inappropriate investment products, the latest sign that a culture of problematic sales practices has bled into areas outside its consumer bank.
Wall Street higher as bank stocks rebound, Apple gains
(Reuters) – A recovery for U.S. banking stocks allied to a 1.5 percent gain for Apple prodded Wall Street’s main indexes higher in early afternoon trading on Monday.
California extends sanctions against Wells Fargo for at least another year
(Reuters) – California will extend sanctions against Wells Fargo & Co for at least another year, Treasurer John Chiang said at a press conference Monday.
Daimler recalls over 1 million vehicles worldwide for air bag fix
BERLIN/WASHINGTON (Reuters) – Daimler AG is recalling more than 1 million Mercedes-Benz cars and sport utility vehicles worldwide to address potential unintended air bag deployments, the German automaker said on Monday.
Colony Capital in talks to buy Weinstein Co
NEW YORK (Reuters) – The Weinstein Company has entered talks to sell the bulk of its assets to private equity firm Colony Capital, the companies said on Monday, as the film production company looks for stability after the departure of co-founder Harvey…
Wall Street inches higher as bank stocks bounce back
(Reuters) – U.S. stocks crept up in late morning trading on Monday as surging Treasury yields led to a rebound in bank stocks after three straight days of losses.
Kobe Steel shares hit near five-year lows as cheating scandal raises financial risks
TOKYO (Reuters) – Just over a week out from revelations of a cheating scandal that plunged Kobe Steel Ltd in crisis and ensnared hundreds of firms, the embattled steelmaker’s shares skidded to five-year lows on Monday as investors worried about the fi…
U.S. buyers favor iPhone 7 over 8: research
(Reuters) – Apple Inc’s older iPhone 7 models are outselling the recently launched iPhone 8 ahead of the early November debut of the premium iPhone X, broker KeyBanc Capital Markets said, citing carrier store surveys.
Colony Capital in talks buy Weinstein Co
NEW YORK (Reuters) – The Weinstein Company has entered talks to sell the bulk of its assets to private equity firm Colony Capital, the companies said on Monday, as the film production company looks for stability after the departure of co-founder Harvey…
Nordstrom family suspends attempt to take retailer private
(Reuters) – Nordstrom Inc said on Monday its founding family had suspended attempts to take the upscale retailer private for the rest of the year due to difficulties in arranging funds for the deal ahead of the holiday season.
