U.S. Justice Dept. orders whistleblower to testify in Wells Fargo probe
(Reuters) – The U.S. Department of Justice has subpoenaed a high-profile whistleblower in its criminal investigation into Wells Fargo & Co’s opening of accounts without customer permission.
U.S. housing, consumer confidence data bolster economic outlook
WASHINGTON (Reuters) – New U.S. single-family home sales rose more than expected in November and consumer sentiment hovered near a 13-year high this month, strengthening the view that the economy will gain further momentum next year.
Deutsche Bank tells staff no bailout needed for U.S. settlement: source
FRANKFURT (Reuters) – Deutsche Bank sought to reassure staff about its financial strength on Friday, in the wake of a $7.2 billion settlement with the U.S. Department of Justice (DoJ) over its sale and pooling of toxic mortgage securities.
China fines GM venture $29 million for monopolistic pricing: state TV
BEIJING (Reuters) – China will fine U.S. automaker General Motors Co’s joint venture 201 million yuan ($29 million) for monopolistic pricing, state television reported on Friday, ending speculation after an official warned of penalties against a U.S. …
How JPMorgan could not save Italy’s problem bank
MILAN/LONDON (Reuters) – On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train towards the medieval city of Siena, racing to meet the directors of the world’s oldest bank to present them with a …
American Apparel closes 12 of its 13 British stores
LONDON (Reuters) – Nearly all the UK stores of U.S.-based clothing brand American Apparel, which went into administration in Britain last month, have closed, with the loss of 147 jobs, administrators KPMG said on Friday.
Icahn regulatory role gives activist investors strong Washington voice
NEW YORK/WASHINGTON/BOSTON (Reuters) – U.S. chief executives, already wrestling with a steady flow of activist investors in their board rooms, face a newly challenging landscape now that the loudest voice of the bunch will have the ear of the next pres…
Putin says Russian economy is on the mend
MOSCOW (Reuters) – Russia’s economic contraction is slowing, capital flight is fading and real wages are starting to recover, President Vladimir Putin said on Friday.
Volkswagen reaches deal with 80,000 U.S. 3.0-liter vehicle owners
WASHINGTON (Reuters) – A federal judge said on Thursday that Volkswagen AG has reached an agreement in principle to provide “substantial compensation” to the owners of about 80,000 3.0-liter polluting diesel vehicles, a key hurdle to resolve the Germa…
Banks lift global stocks, dollar holds near 14-year peak
LONDON (Reuters) – European stocks edged higher on Friday, helped by banks after two regional bellwethers settled investigations into U.S. mortgage securities, while oil and the dollar were on the back foot in light trading ahead of the Christmas break…
