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Wells Fargo ordered to pay $575,000, reinstate whistleblower

July 21, 2017 by  
Filed under News

(Reuters) – The U.S. Department of Labor on Friday ordered Wells Fargo & Co to pay $575,000 and to rehire a whistleblower the bank had dismissed in September 2011 after the former employee raised concerns over the opening of customer accounts without their knowledge, the agency said in a statement.


Source: Reuters Business News

U.S. IPO market may struggle to finish 2017 on a high

July 21, 2017 by  
Filed under News

(Reuters) – Underwhelming performances of Snap and Blue Apron since their high-profile market debuts, especially at a time when the U.S. stock market is hitting record highs, is an indication that the IPO market will not be as robust as expected this year.


Source: Reuters Business News

India to quiz Philip Morris on marketing of Marlboro

July 21, 2017 by  
Filed under News

NEW DELHI (Reuters) – India plans to seek an explanation from Philip Morris International Inc about its marketing practices after Reuters reported that the tobacco giant used tactics that government officials say flout the country’s law, a health ministry official said on Friday.


Source: Reuters Business News

Global pizza brands battle for Russia's far-flung regions

July 21, 2017 by  
Filed under News

MOSCOW (Reuters) – Global pizza brands Domino’s and Papa John’s are preparing an assault on Russia’s provinces, betting they can turn a profit far from Moscow as online card payments become more widespread and consumers get to know foreign brands better.


Source: Reuters Business News

Democrats in Congress urge review of Amazon's Whole Foods bid

July 21, 2017 by  
Filed under News

WASHINGTON (Reuters) – A group of Democrats in Congress, in a letter this week, urged the Department of Justice and the Federal Trade Commission to conduct a more in-depth review of online retailer Amazon’s plan to buy grocer Whole Foods.


Source: Reuters Business News

U.S. fines Exxon Mobil over Russia sanctions violations

July 20, 2017 by  
Filed under News

WASHINGTON (Reuters) – The U.S. Treasury Department on Thursday said it was fining global oil company Exxon Mobil Corp $2 million for violating sanctions on Russia in May 2014.


Source: Reuters Business News

EU examines emissions collusion by German car makers: Handelsblatt

July 20, 2017 by  
Filed under News

BERLIN (Reuters) – The European Commission is examining whether German automakers colluded in systems they used to clean exhaust emissions as part of investigations triggered by the Volkswagen scandal, the Handelsblatt daily reported on Thursday.


Source: Reuters Business News

Benetton family seeks to make Ducati motorbikes Italian: sources

July 20, 2017 by  
Filed under News

LONDON/FRANKFURT/MILAN (Reuters) – Italy’s Benetton family is vying with motorbike firms and buyout funds for control of Italian motorcycle brand Ducati, which is being sold by Germany’s Volkswagen , sources involved in the process told Reuters.


Source: Reuters Business News

Citigroup, Deutsche Bank beef up Frankfurt presence in Brexit response

July 20, 2017 by  
Filed under News

LONDON/FRANKFURT (Reuters) – Two global banks, Citigroup and Deutsche Bank , are beefing up their presence in Frankfurt to deal with the impact of Britain leaving the European Union.


Source: Reuters Business News

UAW chief: U.S. Nissan workers would vote for union right now

July 20, 2017 by  
Filed under News

DETROIT (Reuters) – The president of the United Auto Workers said on Thursday he feels “very strongly” that workers at Nissan Motor Co Ltd’s plant in Canton, Mississippi, would support union representation if they voted now, but added that reports of intimidation by the automaker could change that. “A campaign can change from day to day and this will depend on employees at the plant,” UAW President Dennis Williams said at a news conference in Detroit.


Source: Reuters Business News

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