U.S. reaches $4 million settlement with Wells Fargo over car repossession
WASHINGTON (Reuters) – Wells Fargo Bank, a unit of Wells Fargo & Co, has agreed to pay more than $4.1 million to resolve allegations it illegally repossessed cars owned by members of the U.S. military, the Justice Department said on Thursday.
Fed’s Lockhart wants to see more improvement before hiking U.S. rates
ORLANDO, Fla. (Reuters) – A top U.S. Federal Reserve official said on Thursday he supported the U.S. central bank’s decision to leave interest rates unchanged at its policy meeting earlier this month until there was more evidence the economy is approac…
Dunkin’ partners with Coca-Cola on bottled coffee
(Reuters) – Dunkin’ Brands Group Inc said on Thursday its doughnut chain will partner with Coca-Cola Co to launch a line of bottled coffee beverages in the United States, its first foray into the ready-to-drink coffee market dominated by rival Starbu…
If elected, Clinton under pressure to appoint tough Wall Street sheriffs
WASHINGTON (Reuters) – Democratic Party progressives intent on reining in Wall Street are pushing Hillary Clinton to choose people to head the Treasury, SEC and other agencies who will crack down on big banks if she wins the White House on Nov. 8.
Banks tighten SWIFT system security after hacks
GENEVA (Reuters) – Banks are tightening the security of their SWIFT messaging networks – used by the industry to shift trillions of dollars each day – following revelations that hackers are increasingly able to get into this system to steal money.
Sumner Redstone urges Viacom-CBS deal, rules out others
(Reuters) – Sumner Redstone’s National Amusements, the majority shareholder of CBS Corp and Viacom Inc , on Thursday proposed a merger of the two and said it would not support the acquisition of either media company by a third party.
Car industry shows off cooperation as way to rival technology firms
PARIS/FRANKFURT (Reuters) – Alarmed by the threat posed by Silicon Valley firms developing autonomous driving systems, carmakers at this week’s Paris Motor Show showed signs they are ready to hit back by cooperating in areas where they might have been …
U.S. economy less sluggish in second quarter; companies investing more
WASHINGTON (Reuters) – U.S. economic growth was less sluggish than previously thought in the second quarter as exports grew more than imports and businesses raised their investments, hopeful signs for the economic outlook.
Relief arrives for U.S. shale firms as OPEC folds in price battle
HOUSTON (Reuters) – It was a moment U.S. shale oil producers have been waiting on for more than two years: OPEC nations finally agreed to cut production on Wednesday in a move that lifted low prices ravaging their budgets.
Tesla’s Musk: No more discounts on new cars
DETROIT (Reuters) – Electric carmaker Tesla Motors Inc. Chief Executive Elon Musk told employees in an email to follow company policy of not offering discounts on new cars, responding to some investors’ concerns about the practice.
