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Fed nominees slam Wells Fargo for consumer abuses and indicate bank’s growth cap will be tough to liftMay 16, 2018 | dailybusinessnews
Two Federal Reserve nominees on Tuesday slammed Wells Fargo & Co., for its consumer abuses and indicated that they would have to see significant improvements before voting to lift a cap on the San Francisco bank’s growth.
“Just based upon the news accounts, which of course is all I have to go on,…
By Andy Bruce and Costas Pitas LONDON (Reuters) – Opinion polls suggest that Britons have voted in a referendum to stay in the European Union, but the first few official results on Friday put the 'Brexit' campaign ahead, prompting wild swings in the value of the pound. With results in from the first five of 382 voting districts, those in favour of ending Britain's 43-year membership had a small lead of 3,207 votes, though it was far too early to discern a reliable trend. Opinion surveys pointed to a vote to Remain, and two prominent anti-EU campaigners acknowledged they looked likely to lose.
International Business Machines has acquired nine companies in the last six months. The acquisitions indicate that the company is focused on rebuilding its business around digital marketing, Software as a Service (SaaS) verticals and business intelligence verticals. The table below lists the recent acquisitions: Why IBM acquired companies in digital marketing […]
Forbes Real Time
WASHINGTON (AP) — Federal Reserve policymakers largely agreed when they met last month that June would be too early to start raising interest rates, as they debated whether the economy's winter weakness would fade or persist.
Federal Reserve policymakers were split at their April meeting over whether the economy’s winter weakness was temporary or might last longer. But they largely agreed that June would be too early to start raising interest rates.
L.A. Times – Business
The predictions for this week’s retail holiday sales kickoff are rosy, but they may reveal the deeper problems that retailers face all year long. The National Retail Federation forecasts that sales in November and December will rise 4.1%, to $ 616.9 billion, the highest increase in 3 years. It’s a sign that […]
Forbes Real Time
(Reuters) – Canadian stocks looked set to open lower on Tuesday after the TSX index scaled six-year highs in the previous sessions. June futures on the S&P TSX index were down 0.01 percent at 0715 ET. The TSX index climbed on Monday, driven by gains in financial shares and in the energy sector after oil prices rose. There is no release of economic data scheduled for Tuesday. Dow Jones Industrial Average e-mini futures were down 0.1 percent at 0715 ET, while S&P 500 e-mini futures were down 0.17 percent. Nasdaq 100 e-mini futures were down 0.13 percent. …
Minutes from the central bank’s last meeting suggest Fed policymakers aren’t as eager to start raising interest rates as investors expected.
WASHINGTON — An account of the Federal Reserve’s last meeting suggests that policymakers aren’t as eager to take away the punch bowl as the market thought.
THE KELLY FILE: Notes from an Obama administration meeting about the ObamaCare website show only six people signed up for the law on its first day, according to the House Oversight and Government Reform Committee.