Markets
Wells Fargo chief executive John Stumpf quits over fake accounts scandal
- October 13, 2016
The package remained that large even after a $41 million clawback from his unvested stock he agreed to after being grilled by a Senate panel. Lead Director Stephen Sanger will step in as the board's non-executive chairman, and independent director Elizabeth Duke is expected to become its vice chair. (more...)
- October 13, 2016
The package remained that large even after a $41 million clawback from his unvested stock he agreed to after being grilled by a Senate panel. Lead Director Stephen Sanger will step in as the board's non-executive chairman, and independent director Elizabeth Duke is expected to become its vice chair. (more...)
Trump Taj Mahal closes after years of losses
- October 13, 2016
The Taj Mahal ― which publicists referred to as "the eighth wonder of the world" when it opened ― is the quintessential example of Trump's business failings. I'm very sad that they weren't able to reach a deal. He was here when the doors opened in April 1990 and wanted to be there when they closed as well. (more...)
- October 13, 2016
The Taj Mahal ― which publicists referred to as "the eighth wonder of the world" when it opened ― is the quintessential example of Trump's business failings. I'm very sad that they weren't able to reach a deal. He was here when the doors opened in April 1990 and wanted to be there when they closed as well. (more...)
UK lawmakers press government for vote on Brexit-EU talks
- October 13, 2016
Government ministers, however, insisted it would not be wise to give too much away while Britain's stance is still being worked out. She also told the Labour leader: " We will be leaving the European Union and in doing that we will negotiate the right deal for the United Kingdom, which means the right deal in terms of operating within and trading with the European market. (more...)
- October 13, 2016
Government ministers, however, insisted it would not be wise to give too much away while Britain's stance is still being worked out. She also told the Labour leader: " We will be leaving the European Union and in doing that we will negotiate the right deal for the United Kingdom, which means the right deal in terms of operating within and trading with the European market. (more...)
Rockets sweep Pelicans in China games with 116-104 win
- October 13, 2016
The team says it's waiting on tests to see how severe the sprain is. Wednesday morning finds the same two teams tipping off in China, this time in Beijing. Emmanuel Mudiay had seven assists. New Orleans received a team high 25 points on 10-15 shooting from E'Twaun Moore with Anthony Davis in his shadow with 23 points and five yanks. (more...)
- October 13, 2016
The team says it's waiting on tests to see how severe the sprain is. Wednesday morning finds the same two teams tipping off in China, this time in Beijing. Emmanuel Mudiay had seven assists. New Orleans received a team high 25 points on 10-15 shooting from E'Twaun Moore with Anthony Davis in his shadow with 23 points and five yanks. (more...)
Elizabeth Warren on Wells Fargo CEO's resignation: 'He's one for three'
- October 13, 2016
Former employees have described a pressure-cooker sales culture inside the bank where managers had browbeat staff into hitting aggressive daily sales quotas, which in turn led some workers to create unauthorised accounts. He potentially walks away with millions of dollars, including a $20 million pension, $4.3 million more in deferred compensation, plus stock worth $109 million, according to data from Equilar. (more...)
- October 13, 2016
Former employees have described a pressure-cooker sales culture inside the bank where managers had browbeat staff into hitting aggressive daily sales quotas, which in turn led some workers to create unauthorised accounts. He potentially walks away with millions of dollars, including a $20 million pension, $4.3 million more in deferred compensation, plus stock worth $109 million, according to data from Equilar. (more...)
British pound recovers slightly following post-Brexit fall
- October 13, 2016
He told parliament on Monday: "There will be lots of speculative comments in the next two-and-a-half-years that will drive the pound down and up and down and up and there is little we can do about that". The index is specifically calculated and weighted in order to measure changes in the price competitiveness of goods and services in which Britain trades and, accordingly, will give high weightings to the currencies of those countries with which Britain does a lot of its worldwide trade. (more...)
- October 13, 2016
He told parliament on Monday: "There will be lots of speculative comments in the next two-and-a-half-years that will drive the pound down and up and down and up and there is little we can do about that". The index is specifically calculated and weighted in order to measure changes in the price competitiveness of goods and services in which Britain trades and, accordingly, will give high weightings to the currencies of those countries with which Britain does a lot of its worldwide trade. (more...)
FTSE closes just shy of record high as pound tumbles
- October 13, 2016
However, in common currency terms, though, they have generally fared worse in the United Kingdom than elsewhere, reflecting lingering concerns about the upcoming Brexit talks, especially after Prime Minister Theresa May indicated that the United Kingdom would require full control over European Union immigration, leading to a 'hard Brexit '. (more...)
- October 13, 2016
However, in common currency terms, though, they have generally fared worse in the United Kingdom than elsewhere, reflecting lingering concerns about the upcoming Brexit talks, especially after Prime Minister Theresa May indicated that the United Kingdom would require full control over European Union immigration, leading to a 'hard Brexit '. (more...)
Crosby out with concussion; no timetable for return
- October 13, 2016
Rust skated with Eric Fehr and Tom Sestito. When asked what the Penguins' biggest obstacles to overcome would be in the upcoming season, Sullivan responded by saying whatever they were, the Penguins would have to deal with them by not listening to outside predictions and instead looking at this as a brand new season. (more...)
- October 13, 2016
Rust skated with Eric Fehr and Tom Sestito. When asked what the Penguins' biggest obstacles to overcome would be in the upcoming season, Sullivan responded by saying whatever they were, the Penguins would have to deal with them by not listening to outside predictions and instead looking at this as a brand new season. (more...)
SABMiller shareholders approve AB InBev deal
- October 13, 2016
That cleared the 75 percent needed for the takeover to proceed, despite public opposition from funds including Aberdeen Asset Management. The new combined company will control one third of the global beer market, the Associated Press reported. (more...)
- October 13, 2016
That cleared the 75 percent needed for the takeover to proceed, despite public opposition from funds including Aberdeen Asset Management. The new combined company will control one third of the global beer market, the Associated Press reported. (more...)
Hurricane Matthew Downgraded To Category 2 Storm As It Lashes Atlantic Coast
- October 13, 2016
The hurricane was blamed for at least 10 deaths in the USA, including that of a 68-year-old Georgia man who died when two trees fell on his home. In addition to the 10 deaths in North Carolina, there were four in Florida and three each in Georgia and SC. (more...)
- October 13, 2016
The hurricane was blamed for at least 10 deaths in the USA, including that of a 68-year-old Georgia man who died when two trees fell on his home. In addition to the 10 deaths in North Carolina, there were four in Florida and three each in Georgia and SC. (more...)
Samsung Electronics shares slide as Note 7 collapse weighs
- October 13, 2016
The world's largest phone maker "stopped sales and exchanges of the Galaxy Note 7" and "consequently made a decision to stop production" of the device, citing consumer safety concerns, according to a statement from Samsung on Tuesday. The firm appeared to have the situation under control as it issued replacement devices with different batteries, until the new phones also began to smoke and combust. (more...)
- October 13, 2016
The world's largest phone maker "stopped sales and exchanges of the Galaxy Note 7" and "consequently made a decision to stop production" of the device, citing consumer safety concerns, according to a statement from Samsung on Tuesday. The firm appeared to have the situation under control as it issued replacement devices with different batteries, until the new phones also began to smoke and combust. (more...)
Clinton proposes closing real estate loophole, not Trump
- October 13, 2016
Mr. Trump's plan would cut taxes by $6.2 trillion over a decade, removing more than 13% of projected federal revenue and delivering about half the benefit to the top 1%, according to the Tax Policy Center. The GOP presidential nominee's plan would allow pass-through business income, which is now taxed at regular individual income tax rates, to be taxed at a 15 percent rate. (more...)
- October 13, 2016
Mr. Trump's plan would cut taxes by $6.2 trillion over a decade, removing more than 13% of projected federal revenue and delivering about half the benefit to the top 1%, according to the Tax Policy Center. The GOP presidential nominee's plan would allow pass-through business income, which is now taxed at regular individual income tax rates, to be taxed at a 15 percent rate. (more...)
Chinese shares advance on debt-reduction plan
- October 13, 2016
The only exception was Bangkok, where concerns about the Thai King's health spurred a heavy selloff. Buoying investors' mood were a series of moves - apparently coordinated - in recent days by over 20 Chinese cities, ranging from Shanghai, Beijing to Zhengzhou in central China, to impose fresh restrictions on the red-hot property sector. (more...)
- October 13, 2016
The only exception was Bangkok, where concerns about the Thai King's health spurred a heavy selloff. Buoying investors' mood were a series of moves - apparently coordinated - in recent days by over 20 Chinese cities, ranging from Shanghai, Beijing to Zhengzhou in central China, to impose fresh restrictions on the red-hot property sector. (more...)
Backpage.com CEO charged with sex trafficking
- October 13, 2016
The local prosecutor said he was expected to be flown to California later Friday. The National Center for Missing and Exploited Children says that "most child sex trafficking today is facilitated by online classified advertising websites". (more...)
- October 13, 2016
The local prosecutor said he was expected to be flown to California later Friday. The National Center for Missing and Exploited Children says that "most child sex trafficking today is facilitated by online classified advertising websites". (more...)
Grandson has pizza delivered to check on grandma after Hurricane Matthew
- October 13, 2016
A anxious grandson had a novel idea for making sure his grandmother was safe after Hurricane Matthew tore through her coastal Florida town - he ordered her a pizza . 'Her expression was just priceless, ' Tyler said of grandma when she got the special delivery. As it turns, Eric hadn't just scheduled the delivery so she was well fed. (more...)
- October 13, 2016
A anxious grandson had a novel idea for making sure his grandmother was safe after Hurricane Matthew tore through her coastal Florida town - he ordered her a pizza . 'Her expression was just priceless, ' Tyler said of grandma when she got the special delivery. As it turns, Eric hadn't just scheduled the delivery so she was well fed. (more...)
Stock is down at $45.72 International Paper Increases its Annual…
- October 13, 2016
International Paper has a consensus rating of "Hold" and a consensus price target of $47.71. Goldman Sachs added IP to its research portfolio by announcing an initial rating of "Neutral" and price target of $49.00. Salem Capital Management Inc reduced its stake in International Paper Co by 0.82% during the most recent quarter end. International Paper's payout ratio is presently 94.12%. (more...)
- October 13, 2016
International Paper has a consensus rating of "Hold" and a consensus price target of $47.71. Goldman Sachs added IP to its research portfolio by announcing an initial rating of "Neutral" and price target of $49.00. Salem Capital Management Inc reduced its stake in International Paper Co by 0.82% during the most recent quarter end. International Paper's payout ratio is presently 94.12%. (more...)
New Wells Fargo CEO faces immediate test
- October 13, 2016
Stumpf previously agreed to forfeit about $41 million in unvested equity, temporarily forgo his salary during an internal investigation and not take a bonus for 2016. "As I said at the hearing last month, Mr. Stumpf should resign, return every nickel he made while this scam was going on, and face an investigation by the Justice Department and SEC", the MA senator said in a statement. (more...)
- October 13, 2016
Stumpf previously agreed to forfeit about $41 million in unvested equity, temporarily forgo his salary during an internal investigation and not take a bonus for 2016. "As I said at the hearing last month, Mr. Stumpf should resign, return every nickel he made while this scam was going on, and face an investigation by the Justice Department and SEC", the MA senator said in a statement. (more...)
Medical Examiner Releases Terrence Crutcher Autopsy Report
- October 13, 2016
The unarmed man fatally shot by an Oklahoma police officer last month had PCP and other drugs in his system at the time, coroners said Tuesday. The toxicology report came back showing that Crutcher had tested positive for Phencyclidine , also known as PCP, and also for the hallucinogenic drug called Tenocyclidine. (more...)
- October 13, 2016
The unarmed man fatally shot by an Oklahoma police officer last month had PCP and other drugs in his system at the time, coroners said Tuesday. The toxicology report came back showing that Crutcher had tested positive for Phencyclidine , also known as PCP, and also for the hallucinogenic drug called Tenocyclidine. (more...)
Oil prices fall despite Russian freeze call
- October 13, 2016
The latest American Petroleum Institute (API) data recorded an inventory build of 2.7mn barrels. U.S. West Texas Intermediate (WTI) crude slipped 61 cents, or 1.2 percent, to settle at $50.18. Oversupply coupled with concern over a future decline in demand from countries which have traditionally been major oil consumers resulted in the price of oil falling to a level last seen more than a decade ago in January. (more...)
- October 13, 2016
The latest American Petroleum Institute (API) data recorded an inventory build of 2.7mn barrels. U.S. West Texas Intermediate (WTI) crude slipped 61 cents, or 1.2 percent, to settle at $50.18. Oversupply coupled with concern over a future decline in demand from countries which have traditionally been major oil consumers resulted in the price of oil falling to a level last seen more than a decade ago in January. (more...)
Hart, Holmstrom share economics Nobel for contract theory
- October 13, 2016
Among the contracts they have studied is Holmström's research on employment contracts, including between CEOs and shareholders, and Hart's work on whether providers of public services, such as schools, hospitals, or prisons, should be publicly or privately owned. (more...)
- October 13, 2016
Among the contracts they have studied is Holmström's research on employment contracts, including between CEOs and shareholders, and Hart's work on whether providers of public services, such as schools, hospitals, or prisons, should be publicly or privately owned. (more...)
Latest news
Canada Warns Michigan Oil Line Shutdown Could Undermine US Ties