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Wells Fargo CEO Stumpf testifies before a Senate Banking Committee hearing in Washington

Wells Fargo scandal reignites debate about big bank culture

Reuters - In the aftermath of the 2008 financial crisis, the banking industry sought to address an ethics crisis with surveys, town hall meetings, appointments of overseers and mechanisms for employees to repo…

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  • Wells Fargo CEO Stumpf testifies before a Senate Banking Committee hearing in Washington
    Wells Fargo scandal reignites debate about big bank culture Reuters

    In the aftermath of the 2008 financial crisis, the banking industry sought to address an ethics crisis with surveys, town hall meetings, appointments of overseers and mechanisms for employees to report …

    Wells Fargo CEO Stumpf testifies before a Senate Banking Committee hearing in Washington

    In the aftermath of the 2008 financial crisis, the banking industry sought to address an ethics crisis with surveys, town hall meetings, appointments of overseers and mechanisms for employees to report malfeasance. Bank consultants say tens of millions of dollars are spent each year on initiatives to build a culture of …

  • SABMiller investors cheer $100 billion-plus AB InBev takeover Reuters

    By Martinne Geller and Philip Blenkinsop LONDON/BRUSSELS (Reuters) - SABMiller shareholders overwhelmingly backed the brewer's $100 billion-plus takeover by Anheuser-Busch InBev on Wednesday, clearing …

    View of Anheuser-Busch InBev logo outside the brewery headquarters in Leuven

    By Martinne Geller and Philip Blenkinsop LONDON/BRUSSELS (Reuters) - SABMiller shareholders overwhelmingly backed the brewer's $100 billion-plus takeover by Anheuser-Busch InBev on Wednesday, clearing the last big hurdle for one of the largest corporate mergers in history. For the maker of Budweiser, Corona and Stella …

  • Uber expands food delivery business into South Africa Reuters

    By Nqobile Dludla JOHANNESBURG (Reuters) - Uber Technologies starts its UberEats food-delivery service in South Africa on Thursday before expanding in the rest of the country and into the continent, it …

    UberEats' application on a tablet and its food delivery box are pictured during the launching event of food-delivery service UberEats in Tokyo

    By Nqobile Dludla JOHANNESBURG (Reuters) - Uber Technologies starts its UberEats food-delivery service in South Africa on Thursday before expanding in the rest of the country and into the continent, it said on Wednesday. It will begin delivering meals in the northern suburbs of Johannesburg, South Africa's largest city, …

  • Deutsche helps lift European stocks before Yellen, Draghi Reuters

    By Nigel Stephenson LONDON (Reuters) - A recovery in Deutsche Bank shares helped push European stocks higher on Wednesday, easing concerns over Germany's financial sector that had hit equities in Asia …

    Traders work at their desks in front of the German share price index DAX board in Frankfurt

    By Nigel Stephenson LONDON (Reuters) - A recovery in Deutsche Bank shares helped push European stocks higher on Wednesday, easing concerns over Germany's financial sector that had hit equities in Asia and drove investors into safe-haven government bonds and the dollar. Beyond banking sector worries, markets were looking …

  • China's COSCO Shipping may consider buying Hanjin Shipping's port assets: Caixin Reuters

    BEIJING (Reuters) - China's COSCO Shipping Co Ltd may consider buying the port assets of troubled South Korean firm Hanjin Shipping Co Ltd, Chinese online finance magazine Caixin reported on Wednesday. …

    A woman is reflected in a glass showcase as she walks past a scale replica of a COSCO cargo ship at the company's headquarters in Beijing

    BEIJING (Reuters) - China's COSCO Shipping Co Ltd may consider buying the port assets of troubled South Korean firm Hanjin Shipping Co Ltd, Chinese online finance magazine Caixin reported on Wednesday. But COSCO Shipping has no plans to buy the world's seventh-largest container carrier's ships, Caixin cited …

  • Germany denies preparing Deutsche Bank rescue plan Reuters

    By Arno Schuetze FRANKFURT (Reuters) - The German government denied it was working on a rescue of Deutsche Bank as Germany's biggest lender boosted its balance sheet by selling its British insurance …

    A statue is seen next to the logo of Germany's Deutsche Bank in Frankfurt

    By Arno Schuetze FRANKFURT (Reuters) - The German government denied it was working on a rescue of Deutsche Bank as Germany's biggest lender boosted its balance sheet by selling its British insurance business on Wednesday. Deutsche is facing a $14 billion fine from the U.S. Department of Justice and concerns over its …

  • South Korea to widen Takata air bag recall by 110,000 vehicles Reuters

    South Korea said on Wednesday that 13 automakers will recall some 110,000 vehicles equipped with Takata Corp's <7312.T> defective air bags, the latest development in a long-running safety crisis involving …

    A sign with the TAKATA logo is seen outside the Takata Corporation building in Auburn Hills, Michigan

    South Korea said on Wednesday that 13 automakers will recall some 110,000 vehicles equipped with Takata Corp's <7312.T> defective air bags, the latest development in a long-running safety crisis involving the Japanese company. The United States in May announced a new round of recall of Takata's air bag inflators which …

  • After promising start, Rolls-Royce boss East must deliver Reuters

    By Sarah Young and Sinead Cruise LONDON (Reuters) - Rolls-Royce boss Warren East has rebuilt confidence in the British engine-maker, but there are doubts among investors and industry experts about whether …

    Warren East, CEO of Rolls-Royce, poses for a portrait in front of a Pegasus airplane engine at the company's aerospace engineering and development site in Bristol

    By Sarah Young and Sinead Cruise LONDON (Reuters) - Rolls-Royce boss Warren East has rebuilt confidence in the British engine-maker, but there are doubts among investors and industry experts about whether his slimmed-down group has the muscle to meet ambitious production and development goals. It must also replace the …

  • Oil climbs after industry data shows U.S. inventory draw Reuters

    By Keith Wallis SINGAPORE (Reuters) - Oil prices rose in mixed trading on Wednesday, after sharp losses in the previous session, as industry data showed a surprise draw in U.S. crude stocks, although …

    Workers stand near an oil drilling rig belonging to Petroamazonas at Miranda Port in Tiputini

    By Keith Wallis SINGAPORE (Reuters) - Oil prices rose in mixed trading on Wednesday, after sharp losses in the previous session, as industry data showed a surprise draw in U.S. crude stocks, although worries over a lack of agreement among producers to curb output kept a lid on gains. Brent crude rose 24 cents to $46.21 …

  • Uber aims to win Japan's heart through its stomach Reuters

    By Naomi Tajitsu TOKYO (Reuters) - Uber Technologies [UBER.UL] on Wednesday said it will launch a food-delivery service in Japan as it looks for new ways to enter a potentially massive market where its …

    Uber Japan President Masami Takahashi poses for a photograph during an interview with Reuters in Tokyo, Japan

    By Naomi Tajitsu TOKYO (Reuters) - Uber Technologies [UBER.UL] on Wednesday said it will launch a food-delivery service in Japan as it looks for new ways to enter a potentially massive market where its ride-hailing service has been blocked by regulation and opposition from taxi drivers. The U.S. technology firm is innovating …

  • Global stocks gain after U.S. presidential debate; oil drops Reuters

    By Richard Leong NEW YORK (Reuters) - Stock prices across major markets rose on Tuesday, led by U.S. technology and consumer sectors following the presidential debate between Hillary Clinton and Donald …

    Traders work on the floor of the NYSE

    By Richard Leong NEW YORK (Reuters) - Stock prices across major markets rose on Tuesday, led by U.S. technology and consumer sectors following the presidential debate between Hillary Clinton and Donald Trump, while oil prices fell on fading hopes of agreement on limiting production. A firmer dollar in the aftermath of …

  • Rogers Communications committed to dividend growth - deputy chairman Reuters

    Rogers Communications Inc remains committed to its dividend growth strategy and the failure of its Shomi video streaming joint venture has not diminished its enthusiasm to invest in new technologies, …

    A sign stands in front of Rogers Communications Inc. building on the day of their annual general meeting for shareholders in Toronto

    Rogers Communications Inc remains committed to its dividend growth strategy and the failure of its Shomi video streaming joint venture has not diminished its enthusiasm to invest in new technologies, its deputy chairman said on Tuesday. The Toronto-based company said on Monday it expects to shoulder between C$100 million …

  • Aetna to offer Apple Watch at a discount to certain customers Reuters

    (Reuters) - U.S. health insurer Aetna Inc said it would offer some customers discounts on Apple Inc's smartwatch, marking the first deal made by the tech giant with an insurer for its devices. Aetna, …

    Shimizu tries an Apple Watch Series 2 after it went on sale at the Apple Store at Tokyo's Omotesando shopping district

    (Reuters) - U.S. health insurer Aetna Inc said it would offer some customers discounts on Apple Inc's smartwatch, marking the first deal made by the tech giant with an insurer for its devices. Aetna, which has about 23 million members in the United States, will also give away the Apple Watch for free to its nearly 50,000 …

  • Goldman Sachs, ex-employee in Fed leak case settle fee dispute Reuters

    By Nate Raymond NEW YORK (Reuters) - A former Goldman Sachs Group Inc managing director and the bank have settled dueling lawsuits over his claim for legal fees stemming from probes into his alleged …

    The logo of Goldman Sachs is displayed in their office located in Sydney

    By Nate Raymond NEW YORK (Reuters) - A former Goldman Sachs Group Inc managing director and the bank have settled dueling lawsuits over his claim for legal fees stemming from probes into his alleged use of confidential U.S. Federal Reserve documents. The deal came a month after the Fed began an enforcement action against …

  • Icahn nominee resigns from Chesapeake board; shares tumble Reuters

    Chesapeake Energy Corp said on Tuesday that two directors, including a representative of activist investor Carl Icahn, resigned on Monday, a week after Icahn more than halved his stake in the natural …

    To match Special Report CHESAPEAKE-MCCLENDON/LOANS

    Chesapeake Energy Corp said on Tuesday that two directors, including a representative of activist investor Carl Icahn, resigned on Monday, a week after Icahn more than halved his stake in the natural gas producer. Chesapeake said the resignations of Icahn representative Vincent Intrieri, along with John Lipinski, board …

  • Google France boss says looking for insurance partners Reuters

    (Story corrects September 13th instance to show Nest is owned by Alphabet) MONACO (Reuters) - Google is looking to establish partnerships between insurance companies and some of its parent company Alphabet's …

    Nick Leeder, CEO of Google France, attends the MEDEF union summer forum on the campus of the HEC School of Management in Jouy-en-Josas

    (Story corrects September 13th instance to show Nest is owned by Alphabet) MONACO (Reuters) - Google is looking to establish partnerships between insurance companies and some of its parent company Alphabet's businesses including Nest, which makes smart thermostats and smoke detectors, the managing director of its French …

  • Samsung recovers around 60 percent of recalled Note 7s in South Korea, U.S., Europe Reuters

    Samsung Electronics Co <005930.KS> said on Tuesday it has got back around 60 percent of recalled Galaxy Note 7 smartphones sold in South Korea, the United States and Europe, suggesting it is making progress …

    A Samsung Electronics' Galaxy Note 7 new smartphone is displayed at its store in Seoul

    Samsung Electronics Co <005930.KS> said on Tuesday it has got back around 60 percent of recalled Galaxy Note 7 smartphones sold in South Korea, the United States and Europe, suggesting it is making progress in its attempts to recover from the crisis. In a statement, Samsung said it was focused on replacing all affected …

  • Google launches service to take internet to India malls, cafes Reuters

    Google, a unit of Alphabet Inc, said on Tuesday it launched Google Station in India, a service that aims to deepen its reach across the country, as the search giant seeks to bring more people on to its …

    A man holds his smartphone which displays the Google home page, in this picture illustration taken in Bordeaux, Southwestern France

    Google, a unit of Alphabet Inc, said on Tuesday it launched Google Station in India, a service that aims to deepen its reach across the country, as the search giant seeks to bring more people on to its Google platform. Under the service, Google will roll-out Wi-Fi hot spots in places frequented by a large number of people, …

  • U.S. Labor Department launches review of all Wells Fargo complaints Reuters

    By Sarah N. Lynch WASHINGTON (Reuters) - U.S. Labor Department Secretary Thomas Perez on Monday pledged to conduct a "top-to-bottom" review of all cases, complaints and other alleged violations that the …

    A Wells Fargo Bank is shown in Charlotte, North Carolina

    By Sarah N. Lynch WASHINGTON (Reuters) - U.S. Labor Department Secretary Thomas Perez on Monday pledged to conduct a "top-to-bottom" review of all cases, complaints and other alleged violations that the department has received concerning Wells Fargo in recent years. Perez's announcement, outlined in a Sept. 26 letter …

  • Wells Fargo hit with class action lawsuit over sales practices Reuters

    (Reuters) - A shareholder class action lawsuit was filed against Wells Fargo & Co on Monday that alleged the firm misled investors about its financial performance and the success of its sales practices. …

    Wells Fargo branch is seen in the Chicago suburb of Evanston Illinois

    (Reuters) - A shareholder class action lawsuit was filed against Wells Fargo & Co on Monday that alleged the firm misled investors about its financial performance and the success of its sales practices. Robbins Geller Rudman & Dowd LLP announced the lawsuit and is seeking class action status on behalf of buyers of the …