Wells Fargo may take more disciplinary action over sales abuses
(Reuters) – Wells Fargo & Co may take additional disciplinary action over sales abuses that led to $185 million in penalties and the firing of 5,300 employees, CFO John Shrewsberry said at an industry conference Thursday.
Global stocks edge up as Fed view only partly soothes markets
LONDON (Reuters) – European shares rose modestly and the dollar firmed on Tuesday after a Federal Reserve official argued against raising U.S. interest rates too quickly, though any sense of calm in markets looked fragile.
Former AIG chief Hank Greenberg finally goes on trial
NEW YORK (Reuters) – Opening arguments are set to begin on Tuesday in the trial of former American International Group Inc chairman Maurice “Hank” Greenberg over accounting fraud at the insurance giant some 16 years ago.
Front runner for Monte Paschi CEO job in Frankfurt for ECB meetings: source
MILAN (Reuters) – Marco Morelli, front runner to take over the helm at troubled Italian lender Banca Monte dei Paschi di Siena , was in Frankfurt on Tuesday to meet regulators at the European Central Bank, a source familiar with the matter said.
Wells Fargo to end sales goals for retail bankers
(Reuters) – Wells Fargo & Co , the largest U.S. bank by market capitalization, said on Tuesday it would eliminate all product sales goals in retail banking, starting next year.
Oil falls after IEA report adds to outlook gloom
LONDON (Reuters) – Oil fell on Tuesday following a series of gloomy predictions on demand growth that pointed to the global overhang of unused inventories persisting for much longer than anticipated.
U.S. House committee set to approve Dodd-Frank revamp
WASHINGTON (Reuters) – The U.S. House Financial Services Committee is expected on Tuesday to pass a revamp of the Dodd-Frank Wall Street reform law, but the bill is not anticipated to receive President Barack Obama’s signature if it ever reaches his de…
Audi says August sales up 2.9 percent on Chinese demand for compact cars
BERLIN (Reuters) – Audi increased global sales 2.9 percent in August on strong demand in its key Chinese market for luxury compact cars including the A3 and Q3 models.
Japan’s Renesas pushes into autos with $3.2 billion Intersil buy
TOKYO (Reuters) – Renesas Electronics Corp on Tuesday said it has agreed to buy U.S. chipmaker Intersil Corp for $3.2 billion, an all-cash deal that bolsters the Japanese group’s efforts to refocus the company around automotive chips.
Exclusive: Goldman team uses retail deposits for Wall Street-style profits
NEW YORK (Reuters) – As Goldman Sachs Group Inc has built its U.S. consumer bank, it has established a team to put its deposits to work on Wall Street, a telling development about Goldman’s ambitions for the retail bank.
