Wall Street surges on lower rate-hike fears, Apple ascends
(Reuters) – Wall Street rallied 1 percent on Thursday, buoyed by Apple’s best four-day run since 2014, higher oil prices and ho-hum economic data that further dimmed expectations for an interest rate hike next week.
Fiat Chrysler recalling 1.9 million cars for new air bag defect
WASHINGTON (Reuters) – Fiat Chrysler Automobiles NV said on Thursday it is recalling 1.9 million vehicles worldwide for an air bag defect linked to three deaths and five injuries.
U.S. tax avoidance clampdown a potential headache for Apple
WASHINGTON (Reuters) – Apple Inc and other U.S. multinationals will face new curbs on tax loopholes under a rule imposed by Washington on Thursday, part of a scramble among governments worldwide to bolster their corporate tax bases.
Activist Naylor calls on Wells Fargo to study breakup
BOSTON (Reuters) – Activist investor Bart Naylor said on Thursday he has filed a shareholder resolution calling on Wells Fargo & Co to study breaking up its business in the wake of a fake accounts scandal.
Exclusive: Central banks seek global standards in wake of Bangladesh heist
NEW YORK/LONDON (Reuters) – The world’s major central banks, stung by this year’s $81-million heist in Bangladesh, have launched a task force to consider setting broad rules to protect the vast network of cross-border banking from cyber attacks, accord…
Camel smoker John Boehner joins Reynolds American’s board
(Reuters) – Tobacco giant Reynolds American Inc said it appointed John Boehner, a former House Speaker and a known smoker of the company’s Camel cigarettes, to its board.
CBS CEO Moonves says ‘no active discussions’ with Viacom
(Reuters) – CBS Corp is not in “active discussions,” about recombining with Viacom Inc , CBS Chief Executive Leslie Moonves said on Thursday.
U.S. retail sales, factory output slump; third-quarter growth forecast cut
WASHINGTON (Reuters) – U.S. retail sales fell more than expected in August amid weak purchases of automobiles and a range of other goods, pointing to cooling domestic demand that further diminishes expectations of a Federal Reserve interest rate increa…
Federal Reserve stress test may be illegal: banking group
(Reuters) – The Federal Reserve may have violated the law in adopting key parts of the bank stress tests, according to a study released on Thursday from a group whose members include large Wall Street banks.
Activist Needmor calls on Wells Fargo to split Chair-CEO roles
BOSTON (Reuters) – Activist investor Needmor Fund said on Thursday it filed a shareholder resolution with Wells Fargo & Co calling on the bank to split the roles of Chairman and Chief Executive, saying management needs strong oversight from the board “in light of the recent scandal” involving fake accounts.
