Wells Fargo moves more auto staff to central hubs, eyes rebranding: memo
(Reuters) – Wells Fargo & Co is making more structural and management changes to its auto lending unit, according to an internal memo viewed by Reuters, part of the bank’s effort to control risk more effectively. The latest overhaul will phase out 57 regional offices across the United States and eliminate the positions of those regional managers, according to the memo.
Germany recalls Porsche Cayenne models over emissions software
BERLIN (Reuters) – German Transport Minister Alexander Dobrindt on Thursday announced a recall of Porsche Cayenne models equipped with 3-litre diesel engines after finding potentially illegal emissions controlling software in the vehicles.
U.S. regulators approve fix for 326,000 VW diesels
WASHINGTON (Reuters) – The U.S. Environmental Protection Agency and California Air Resources Board on Thursday approved a fix for 326,000 Volkswagen AG diesel cars, the agencies and the automaker said Thursday.
Exclusive: Saudi Aramco advisers favor London for historic IPO – sources
DUBAI/LONDON (Reuters) – Saudi Aramco’s advisers have recommended London for the historic listing of the oil company, with U.S. disclosure rules a concern for Saudi authorities, sources familiar with the matter told Reuters.
Facebook shares surge as results quash fears of slowing growth
(Reuters) – Shares of Facebook Inc touched a record high on Thursday on the back of overwhelmingly positive quarterly results, adding more than $27 billion to its market value.
Tech, transports drag on Wall Street; Dow hits record
(Reuters) – A swoon in technology and transportation shares led the S&P 500 slightly lower on Thursday on a day full of corporate earnings reports, but the Dow industrials set a record closing high, helped by a jump in Verizon.
Citigroup to move part of private banking to Madrid due to Brexit: source
MADRID (Reuters) – Citigroup is at an advanced stage in plans to move part of its private banking unit from London to Madrid next year as a result of Britain’s decision to leave the European Union, a source familiar with the matter said on Thursday.
U.S. durable goods, trade data boost second-quarter growth estimate
WASHINGTON (Reuters) – Shipments of key U.S.-made capital goods increased in June for a fifth straight month, suggesting that business spending on equipment helped to boost economic growth in the second quarter.
Jobless claims rise from three-month low
WASHINGTON (Reuters) – The number of Americans filing for unemployment benefits rebounded from a three-month low last week, but remained below a level consistent with a tightening labor market.
Exclusive: Not Made in America – Wal-Mart looks overseas for online vendors
CHICAGO (Reuters) – Walmart.com, trailing Amazon.com Inc in the number of goods for sale on its website, is recruiting vendors in China and other countries to boost its online offerings in a pivot away from Wal-Mart’s Made-in-America campaign.
