Wells Fargo hires new law firm to prepare CEO for Senate appearance
NEW YORK (Reuters) – Wells Fargo & Co. has hired law firm Sidley Austin to take the lead in preparing Chief Executive Tim Sloan for his appearance before the U.S. Congress next month to answer questions about a year-long sales practices scandal, according to four sources with knowledge of the decision.
Take Five: World markets themes for the week ahead
LONDON (Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them.
Shorting volatility: Rising risks mean itchier trigger fingers
NEW YORK (Reuters) – A long stretch of low volatility for U.S. stocks has made betting on continued calm a popular and lucrative trade, but traders and strategists warn that risks to the trade have mounted, while the potential for profits has shrunk.
‘Unfit’ Uber stripped of London license, CEO tweets ‘pls work w/us’
LONDON (Reuters) – London deemed Uber unfit to run a taxi service on Friday and stripped it of its license to operate from the end of next week in a major blow to the U.S. firm and 3.5 million users in one of the world’s wealthiest cities.
Brazil Supreme Court denies request to release JBS brothers
SAO PAULO (Reuters) – Brazil Supreme Court Justice Gilmar Mendes on Friday denied a request to release from jail Joesley and Wesley Batista, the brothers who control the world’s largest meatpacker JBS SA.
Investor group seeks probe into SEC hack, urges data rules delay
WASHINGTON (Reuters) – A global investor group on Friday called for an independent investigation into a cyber breach at the U.S. Securities and Exchange Commission (SEC) and urged the regulator to delay new data-gathering rules until it could assure in…
Zuckerberg nixes new Facebook share class after shareholder lawsuit
WILMINGTON, Del. (Reuters) – Facebook Inc Chairman Mark Zuckerberg abandoned plans on Friday to create a new class of company stock with no voting power, which was meant to be a way for Zuckerberg to retain control over the company he founded while ful…
BMW to build new 8 series at German Dingolfing plant from 2018
BERLIN (Reuters) – Carmaker BMW plans to build its new 8 series model at its plant in the southern German town of Dingolfing from 2018, strengthening the site’s role in the production of premium models in addition to electric vehicle components.
Wall Street edges up, shaking off healthcare, North Korea worries
NEW YORK (Reuters) – The S&P 500 closed slightly higher on Friday even though Apple was a drag, as worries about Washington’s latest healthcare legislation proposal eased and investors shrugged off concerns about North Korea.
Facebook drops Class C plan: shareholder attorney
WILMINGTON, Del. (Reuters) – Facebook Inc has dropped its plan to issue Class C stock, according to an attorney who sued the company on behalf of a Facebook shareholder because the plan would have allegedly extended founder Mark Zuckerberg’s control ov…
