Tag Archives: Wells Fargo

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

Your Daily Dose of Financial News

BY: Michael D. Reif | September 7, 2018

Jobs Report Friday! Here’s what to look for in the numbers – Bloomberg and NYTimes and WSJ Less than a day after the Journal reported that CBS and the Redstones are nearing a deal to resolve their many differences, we’ve learned that CBS chief Les Moonves—facing an investigation into alleged sexual harassment—is working with the … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | August 14, 2018

Elon Musk had some explaining to do in light of his “funding secured” tweet on August 7 in the context of taking Tesla private, and he’s gone to the corporate blog to do so, arguing that his meetings with representatives of Saudi Arabia’s sovereign wealth fund before his tweet provided him with a defensible basis … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | August 2, 2018

On Wednesday, Wells Fargo revealed that it reached a settlement with the DOJ after months of negotiating that will see the bank pay $2.09 billion to resolve allegations over its sales of toxic mortgage-backed securities in the months and years before the 2008 financial crisis. Wells did not admit liability as part of the deal … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | May 31, 2018

We got an official first look at the Fed’s revised Volcker Rule yesterday, and the “sweeping plan to soften” the rule will open “the door for banks to resume some trading activities restricted as part of the 2010 Dodd-Frank law.” The changes—characterized by critics as a giveaway to big banks—will give banks “more leeway to … Continue reading

Your Daily Dose of Financial News

BY: Michael D. Reif | May 21, 2018

Campbell’s Soup CEO Denise Morrison retired abruptly late last Friday. Though the company’s stock has struggled in the past year, Morrison gave no reason for stepping down—a move that drops the number of female chief executives of S&P 500 Index publicly traded companies to just 23 – NYTimes Both China and the US are working … Continue reading