After a difficult, months-long search for a new chief executive, scandal-plagued Wells Fargo & Co named as its next leader Charles Scharf, a one-time Jamie Dimon protégé known on Wall Street as a detail-oriented number cruncher who excels in streamlining operations.
(This September 26 story corrects airline group to SkyTeam alliance instead of the Sky Alliance in paragraph 6)
U.S. stocks fell on Friday after news that the Trump administration was considering delisting Chinese companies from U.S. stock exchanges and limit U.S. investments into China.
President Donald Trump's administration is considering delisting Chinese companies from U.S. stock exchanges, three sources briefed on the matter said on Friday, in what would be a radical escalation of U.S.-China trade tensions.
Oil prices fell on Friday and posted a weekly loss on a faster-than-expected recovery in Saudi output, while investors also worried about global crude demand amid slowing Chinese economic growth.
Philadelphia Federal Reserve Bank President Patrick Harker said in New York on Friday he opposed the central bank's September rate cut and thinks the Fed should "hold firm" on interest rates.
Fiat Chrysler Automobiles NV and its U.S. unit will pay $40 million for misleading investors about its monthly sales figures and will resolve a lengthy probe by the U.S. Securities and Exchange Commission (SEC).
Marathon Petroleum Corp said on Friday the top U.S. refiner's board supported Gary Heminger staying on as chief executive officer amid calls for his ouster from two top 10 shareholders.
Hedge fund D.E. Shaw & Co is building a stake in Emerson Electric Co and is planning to push for changes, including a potential break-up of the U.S. industrial conglomerate, people familiar with the matter said on Friday.
Philadelphia Federal Reserve Bank President Patrick Harker said in New York on Friday he thinks the central bank should "hold firm" on interest rates, pointing to a strong labor market as evidence that the economy is still growing as expected.
Wells Fargo & Co on Friday named banking veteran Charles Scharf its next chief executive officer, ending a six-month search for a new leader to turn around the fortunes of the scandal-plagued bank, sending its shares up more than 4%. Scharf, who joins the fourth-largest U.S. bank effective next month after a 2-year stint leading Bank of New York Mellon , will become Wells Fargo's third CEO in as many years.
Austrian sensor maker AMS raised its takeover offer for Osram to 4.5 billion euros ($4.9 billion) on Friday, ratcheting up the pressure on a private equity consortium also vying to buy the German lighting group.
Los Angeles Times | Julie Verhage | Sep 27, 2019 Customers of Square Inc., the Silicon Valley payments behemoth, might assume that the cash they send to friends on the platform is housed in a glassy building in Silicon Valley, tended to by hoodie-clad tech workers. Actually, that money is more likely to be sitting
U.S. consumer spending barely rose in August and business investment remained subdued amid lingering trade tensions, prompting economists to slash their economic growth estimates for the third quarter.
Barclays has agreed to pay about $6.3 million to settle U.S. charges it violated a federal anti-bribery law by hiring family and friends of foreign officials in the Asia-Pacific region to help win or retain investment banking business.