 | | | | Tired of being cast as the poster child for big banks behaving badly, Wells Fargo & Co has been expanding its presence in the nation's capital to convince lawmakers it has changed and talking up its charitable work in their districts. | | | | | | If plunging markets during Wednesday's U.S. trading session proved unlucky for investors, the timing was especially bad for Vanguard Group Inc. | | | | | | William Ackman said on Tuesday his activist hedge fund Pershing Square Capital Management LP has built a roughly $900 million position in Starbucks Corp , betting the world's biggest coffee chain can overcome stagnant sales in its home market. | | | | | | Waiting until age 70 to claim Social Security benefits is one of the most popular financial strategies for retirement, but it can put couples that retire in their 60s in a bind if they then must wait years for monthly benefit checks to start. | | | | | | Asset management company Deutsche Bank Wealth Management named Wendy McMillan and Richard Aguiar as managing director and private banker. McMillan and Aguiar will be based in San Francisco and Los Angeles, respectively, the company said in a statement on Wednesday. | | | | | | The following financial services industry appointments were announced on Wednesday. To inform us of other job changes, email moves@thomsonreuters.com. | | | | | | Law firm Slater & Gordon Ltd has filed a class-action suit against Commonwealth Bank of Australia seeking damages of more than A$100 million ($71 million) after the bank allegedly invested the retirement savings of thousands of customers into low, uncompetitive interest-returning products. | | | | | | Wall Street's bond firms are sopping up a growing amount of Treasury debt as the U.S. government seeks to fund a rising budget deficit stemming from the massive tax cut enacted last December, Treasury Department data released on Tuesday showed. | | | | | |
