Pennsylvania Treasury suspends Wells Fargo from trading
(Reuters) – Pennsylvania Treasurer Timothy Reese said on Thursday that he suspended Wells Fargo & Co from any treasury investment or trading activities in the state for a year because of its “fraudulent” accounts scandal.
Google formally rejects EU antitrust charges
BRUSSELS (Reuters) – Google on Thursday formally rejected European Union antitrust charges of unfairly promoting its shopping service and blocking rivals in online search advertising, paving the way for EU regulators to rule next year on these issues …
Slowdown in orders, hiring curbs U.S. services sector growth
WASHINGTON (Reuters) – U.S. services industry activity cooled in October amid a slowdown in new orders and hiring, suggesting a moderation in economic growth early in the fourth quarter.
Fitbit selloff spreads to GoPro ahead of quarterly report
SAN FRANCISCO (Reuters) – Investors on edge about GoPro’s slumping sales ahead of its quarterly report on Thursday appeared even more anxious following fellow consumer gadget maker Fitbit’s dismal revenue forecast late the day before.
Abbott offers EU concessions over $25 billion St. Jude deal
BRUSSELS (Reuters) – Medical device maker Abbott Laboratories has offered concessions in an attempt to secure EU antitrust approval for its $25 billion bid for St Jude Medical Inc , according to the European Commision.
Exclusive: Brazil’s Oi readies plan to repay small creditors first, sources say
SAO PAULO (Reuters) – Oi SA is working on a plan by which small-sized suppliers and contractors would be repaid before banks and bondholders, as Brazil’s biggest fixed-line phone carrier seeks to garner support from thousands of creditors to emerge fa…
Goldman, JPMorgan, Morgan Stanley defeat appeal over Facebook IPO
NEW YORK (Reuters) – Goldman Sachs Group Inc , JPMorgan Chase & Co and Morgan Stanley need not forfeit their estimated $100 million of profit from trading Facebook Inc stock soon after underwriting its May 2012 initial public offering, a federal appeals court said on Thursday.
VW makes ‘substantial progress’ toward 3.0 liter diesel agreement: judge
(Reuters) – U.S. District Judge Charles Breyer said on Thursday that Volkswagen AG has made substantial progress in talks with the U.S. Justice Department and other government agencies toward resolving the fate of about 80,000 polluting diesel 3.0 lit…
Wells Fargo CEO sees ‘relatively quick’ review of sales practices
(Reuters) – Wells Fargo & Co’s CEO Tim Sloan said on Thursday a comprehensive review of the bank’s sales practices would be done ‘relatively quickly’ and unveiled a series of immediate changes at the bank’s retail unit under new division boss Mary Mack.
JPMorgan plants digital payment flag at Wal-Mart
NEW YORK (Reuters) – JPMorgan Chase & Co is putting its “Chase Pay” digital wallet on Wal-Mart’s website and in the retailer’s Walmart Pay app, hoping to give customers more ways to make purchases without cash, a bank executive said on Thursday.
