Markets


Gov't says colder weather will boost winter heating bills Gov't says colder weather will boost winter heating bills
- October 14, 2016

The U.S. Department of Energy is forecasting a sizable increase in heating costs this winter in the Midwest compared to past year. The yearly winter fuels outlook report from the U.S. are expected to be much colder than last winter east of the Rocky Mountains, with the Northeast and Midwest 17 percent colder and the South 18 percent colder. (more...)
Deutsche Bank fined by SEC over failure to guard research
- October 14, 2016

According to the SEC's order, Deutsche Bank encouraged its equity research analysts to communicate frequently with customers as well as its own sales and trading personnel, but lacked adequate policies and procedures to prevent analysts from disclosing yet-to-be-published views and analyses, changes in estimates, and short-term trade recommendations during morning calls, trading day squawks, idea dinners, and non-deal road shows. (more...)
Melania Trump slams People writer in letter from lawyer Melania Trump slams People writer in letter from lawyer
- October 14, 2016

Natasha Stoynoff , an author and former Toronto Star reporter, said Donald Trump sexually assaulted her. Stoynoff, who covered Trump for People in the early 2000s, wrote a harrowing essay recalling how Trump forcibly kissed her during an interview. (more...)
Deutsche Bank shares spike on reports of possible capital infusion
- October 14, 2016

Deutsche Bank has secured support from its largest shareholder and more German lawmakers as it grapples with a confidence crisis following US authorities' demands for up to $14 billion to settle allegations it mis-sold mortgage-backed securities. (more...)
J&K: 3 day Pampore encounter ends, 2 militants killed
- October 13, 2016

The main building of the institute was razed in a February shootout when militants had captured it and launched a major attack on security forces. An army man was injured in the initial gunfire of militants on Sunday morning and since then security forces were moving cautiously and playing a waiting game. (more...)
Sports Direct International's acting finance boss to resign Sports Direct International's acting finance boss to resign
- October 13, 2016

Less than a month ago, Dave Forsey was replaced as chief executive by Mike Ashley. His interim replacement will be Herbert Monteith, who according to the embattled giant is a longstanding and experienced member of the finance team. Sports Direct has seen its share price drop nearly two thirds in the past year as it came under fire for its working practices. The weak pound after Britain voted to leave the European Union in June is adding to the problems for Sports Direct , whose shares ... (more...)
Wal-Mart Stores, Inc Wal-Mart Stores, Inc
- October 13, 2016

The new warehouses allow Wal-Mart to now ship orders to 70 percent of Americans in a day, Traweek said, but it can not yet do so profitably. The sale of Yihaodian to JD earned Wal-Mart a 5% equity stake in JD. Walmart has increased its stake in JD.com to 10.8% from 5.9%, three months after the US retail giant swapped its Yihaodian unit for an initial interest in China's second largest e-commerce firm. (more...)
Britain, France seek more EU sanctions on Syria, Russia over Aleppo
- October 13, 2016

The meeting should include Russian Federation, the United States, Turkey, Saudi Arabia and possibly Qatar, Lavrov told CNN's Christiane Amanpour in Moscow. Following the collapse of the ceasefire, the Syrian Army launched a major offensive on the rebel-held districts of Aleppo, blaming militants for numerous violations. (more...)
Wells Fargo Feels The Heat Wells Fargo Feels The Heat
- October 13, 2016

Two years later, when taking out a mortgage, he discovered a credit card in his name. However, Stumpf wasn't able to get much of a response in beyond his prepared remarks apologizing for the scandal. The bank's cross-selling practices, in which employees were expected to push each customer to have eight banking products, has been under harsher scrutiny since Warren brought up a 2010 annual report in which Stumpf outlined his reasoning behind that number: "Eight rhymes with great". (more...)
Wells Fargo brass taking heat for accounts scandal Wells Fargo brass taking heat for accounts scandal
- October 13, 2016

These customers, among others scammed by the fake account generation, are frustrated about having to prove to Wells Fargo that they were not the ones who created them. Stumpf said he now held four times the level of stock required of him but acknowledged selling off those shares. Maloney also accused Stumpf of "very suspicious" sales of $13 million worth of Wells Fargo stock in October 2013, the largest such sales during his nine years as CEO. (more...)
Analysts Estimates and Ratings: Regions Financial Corporation (NYSE:RF) Analysts Estimates and Ratings: Regions Financial Corporation (NYSE:RF)
- October 13, 2016

The company has a consensus rating of Hold and an average target price of $38.33. Regions Financial Corp has been the topic of 46 analyst reports since August 12, 2015 according to StockzIntelligence Inc. State Treasurer State of MI increased its position in shares of Webster Financial Corp.by 0.8% in the second quarter. Blackrock Inv Mgmt Limited Com reported 671 shares or 0% of all its holdings. (more...)
Crude holds above US$50 on Putin's pledge to curb production Crude holds above US$50 on Putin's pledge to curb production
- October 13, 2016

They inhabit a very different world in which there is plenty of oil sloshing around and buyers can get cargoes of crude at discounts to their official selling prices. As a result, the global supply of oil grew by 600,000 barrels a day in September, according to IEA. However there were notable absentees from the talks, with the energy minister of the cartel's kingpin Saudi Arabia , Khalid al-Falih, having already departed from Istanbul and Iraq and Iran also not attending. (more...)
Stumpf gone at Wells Fargo
- October 13, 2016

Stumpf joined Wells Fargo in 1982, became its CEO in 2007 and took on the title of chairman in 2010. Stumpf's fall from grace started with a $185 million regulatory settlement between the bank, regulatory authorities and a Los Angeles prosecutor over its staff opening as many as 2 million accounts without customers' knowledge . (more...)
Final black box recovered from Hoboken NJ Transit wreck Final black box recovered from Hoboken NJ Transit wreck
- October 13, 2016

Investigator James Southworth said at a news conference near the station that the device, which should have recorded the speed, throttle position and other details, was recovered earlier in the day and shipped for analysis to the Washington, D.C., offices of the National Transportation Safety Board. (more...)
Trump says WikiLeaks email shows collusion between Clinton, DOJ
- October 13, 2016

Clinton's press secretary, Brian Fallon, provided fodder for charges of Justice Department-Clinton campaign coziness, writing in May of a year ago that "DOJ folks inform me there is a status hearing in this case this morning, so we could have a window into the judge's thinking about this proposed production schedule as quickly as today". (more...)
Federal Reserve indicates US rate rise could come 'relatively soon'
- October 13, 2016

While three Fed officials voted to raise rates by a quarter point, several others said the eventual decision to leave rates unchanged was a "close call". The S&P 500 Index extended gains following the Fed release as officials were seen debating the timing for higher rates. Fed officials next meet on November 1-2. (more...)
Walmart pulls back, slows USA store openings
- October 13, 2016

On average, equities research analysts anticipate that Wal-Mart Stores will post $4.35 earnings per share for the current fiscal year. It foresees fiscal 2019 earnings per share growth of about 5 percent. The company is said to be on the verge of making a $1 billion investment in India's e-commerce operator Flipkart. The Wall Street Journal reported last month that Walmart is set to reinvest in its online grocery business after seeing its overall sales weaken and experiencing a revenue ... (more...)
Enlivened Stock On Most Active List: Facebook, Inc. (NASDAQ:FB) Enlivened Stock On Most Active List: Facebook, Inc. (NASDAQ:FB)
- October 13, 2016

Finally, Vetr upgraded shares of Facebook from a "buy" rating to a "strong-buy" rating and set a $123.05 price objective on the stock in a research report on Monday, June 27th. HP's payout ratio is presently 26.74%. In other news, VP David B. Fischer sold 7,821 shares of the business's stock in a transaction dated Friday, July 15th. (more...)
Trump, Clinton tax plans differ greatly
- October 13, 2016

Under the current structure, they typically do not receive the full credit, even though they need the most help. As with the current Child Tax Credit , it would phase out for higher income families. You can only get back a maximum of 15 percent of your taxable income. Clinton's tax increases would fall nearly exclusively on businesses and taxpayers in the top 1 percent, with modest tax cuts for poorer households. (more...)
US Federal Reserve's decision to hold interest rate was 'close call'
- October 13, 2016

As to when the next rate hike will occur, the minutes said, "Several members judged that it would be appropriate to increase the target range for the federal funds rate relatively soon if economic developments unfolded about as the Committee expected". (more...)

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