Tag Archives: Wells Fargo

Financial Daily Dose 7.8.2019 | Top Story: Friday’s Solid Jobs Report Prompts Rate-Cut Concerns

BY: Michael D. Reif | July 8, 2019

We managed to miss Jobs Report Friday because of the holiday break, so here’s the lowdown on a very strong set of numbers—224,000 jobs added—and the seemingly incongruous market reaction to the good news (it’s all about the Fed and interest rates, my friends) – NYTimes and WSJ and Bloomberg and MarketWatch and Marketplace Turkey’s … Continue reading

Financial Daily Dose 6.12.2019 | Top Story: State AGs take aim at Sprint/T-Mobile merger with antitrust suit

BY: Michael D. Reif | June 12, 2019

Sprint and T-Mobile are facing new merger headwinds in the form of a NY & CA state AG-led lawsuit in the Southern District of New York that seeks to block the deal, alleging that it would cost customers of the companies “at least $4.5 billion a year” – NYTimes and WSJ and Law360 The good … Continue reading

Financial Daily Dose 6.7.2019 | Top Story: Markets Keep Eye on US Jobs Report

BY: Michael D. Reif | June 7, 2019

Jobs Report Friday again! Lots to look for in the numbers this month, especially considering the economic uncertainty that’s defined the past few weeks – WSJ and Bloomberg and NYTimes Wells Fargo will fork over $385 million to resolve force-placed insurance allegations from customers who have accused the bank of signing them up for auto … Continue reading

Financial Daily Dose 6.5.2019 | Top Story: SEC Votes Today on New Broker Conduct Standards

BY: Michael D. Reif | June 5, 2019

The SEC will vote today on what it’s calling Regulation Best Interest, “which says brokers can’t put their own paychecks ahead of a customer’s needs”—the more-industry-acceptable revision of an Obama-era fiduciary duty rule for advisors that has since died a slow death. Still left unclear under the new plan, however, is “whether it would disrupt … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 29, 2019

Wells Fargo CEO Timothy Sloan is out after a rocky two-plus-year tenure in arguably the hottest seats in finance over the past several years. He’ll be replaced on an interim basis by Wells’ GC C. Allen Parker – Law360 and Bloomberg and NYTimes and WSJ The US Department of Housing and Urban Development has announced … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 13, 2019

Concessions wrenched from EU leaders aside, PM May and her latest Brexit plan again fell apart in Parliament, with lawmakers voting it down 391-242. The defeat raises the ongoing specter of a no-deal departure from the Union and a possible delay in that action, and it threatens her role as Tory leader, too – NYTimes … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | March 11, 2019

After the tragic crash of Ethiopian Airlines Flight 302 this weekend, Ethiopia, Indonesia, and China have moved to ground all flights on Boeing’s new 737 Max 8 planes until further notice. The Max 8 was also involved in a deadly Lion Air crash in Indonesia just 5 months ago that has many in the industry … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | February 11, 2019

Federal prosecutors are reportedly weighing the allegations that Amazon chief Jeff Bezos has levied against Enquirer-parent American Media Inc., which, if found to have broken any law, “would be in violation of a deal with federal prosecutors from the Southern District of New York” related to hush money payments it made during the 2016 presidential … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | November 14, 2018

British and EU negotiators have reached a draft Brexit deal that PM May now needs to sell to her “deeply divided” cabinet. Not that her challenges would end there, mind you, as any deal would then face a skeptical Parliament in which “her Conservative Party doesn’t command a majority in the House of Commons and … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | October 25, 2018

New York has sued Exxon Mobile over its alleged failure to disclose to its shareholder the “expected risk of climate change to its business”—behavior that the state asserts amounts to a “’longstanding fraudulent scheme’ to deceive investors, analysts and underwriters” – NYTimes and CNBC and Law360 Wells Fargo’s chief administrative officer and auditor are out … Continue reading