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Summer rumblings could herald a stormy fall for U.S. stocks

August 18, 2017 by  
Filed under News

NEW YORK (Reuters) – The Trump-fed rally in stocks, lately showing signs of faltering as the long Wall Street summer nears its end, faces a key test in the weeks ahead with the approach of a historically unkind season for equities and a clutch of issues – such as raising the debt ceiling – awaiting the return of lawmakers to Washington.


Source: Reuters Business News

Wells Fargo troubles shift from phony bank accounts to real ones

August 18, 2017 by  
Filed under News

(Reuters) – After paying customers millions of dollars for opening phony accounts they did not want, Wells Fargo & Co has said it is now grappling with the possibility it harmed customers by closing real accounts they needed, leaving them without access to funds.


Source: Reuters Business News

Stability concerns focus at Fed ahead of Yellen speech

August 18, 2017 by  
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WASHINGTON (Reuters) – The stock market’s steady rise, still low long-term bond yields and a sagging dollar are girding the Fed’s intent to raise interest rates again this year despite concerns about weak inflation, according to comments this week from Fed officials and analysts anticipating remarks next week by Chair Janet Yellen.


Source: Reuters Business News

Facebook's Mark Zuckerberg to take two months of paternity leave

August 18, 2017 by  
Filed under News

(Reuters) – Facebook Inc founder Mark Zuckerberg said on Friday he would be taking two months of paternity leave after the birth of his second daughter.


Source: Reuters Business News

Ackman's Pershing Square says ADP needs to streamline, modernize

August 17, 2017 by  
Filed under News

BOSTON/NEW YORK (Reuters) – Billionaire activist investor William Ackman on Thursday said Automatic Data Processing Inc’s stock price could double in the next five years if the human resources outsourcing company cuts costs, streamlines its business and invests in technology upgrades.


Source: Reuters Business News

BlackRock's largest mutual fund boosts energy holdings: manager

August 17, 2017 by  
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NEW YORK (Reuters) – BlackRock Inc’s largest mutual fund hiked its exposure to “select names” in energy as the sector has lagged this year, one of its portfolio managers said on Thursday.


Source: Reuters Business News

Exclusive: SEC officials' holdings, legal work, pose potential conflicts

August 17, 2017 by  
Filed under News

WASHINGTON (Reuters) – Two lawyers appointed to senior jobs at the U.S. Securities and Exchange Commission have ties to major companies including financial firms Goldman Sachs Group Inc and Wells Fargo & Co that could complicate efforts to regulate them, according to government documents viewed by Reuters.


Source: Reuters Business News

Uber wins U.S. court appeal to push price-fixing case to arbitration

August 17, 2017 by  
Filed under News

NEW YORK (Reuters) – Uber Technologies Inc [UBER.UL] on Thursday won a victory in its effort to keep unhappy customers from suing in court, persuading a federal appeals court to send a Connecticut passenger’s price-fixing case against the ride-service company into arbitration.


Source: Reuters Business News

Wall Street extends losses on Trump policy worries

August 17, 2017 by  
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(Reuters) – U.S stocks hit session lows in early afternoon trading on Thursday as investors worried about President Donald Trump’s ability to pursue his pro-growth policies.


Source: Reuters Business News

Black banker sues Goldman Sachs for racial discrimination

August 16, 2017 by  
Filed under News

(Reuters) – A black banker in Goldman Sachs Group Inc’s personal wealth management unit filed a lawsuit on Wednesday accusing the firm of steering top clients to her white colleagues and denying her promotions because of her race.


Source: Reuters Business News

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