Thursday 23 January 2020

Daily Investor Update: Bank regulator charges ex-Wells Fargo executives for role in sales scandal

Reuters.com Newsletter

Bank regulator charges ex-Wells Fargo executives for role in sales scandal

Wells Fargo & Co's regulator on Thursday announced it had brought civil charges against eight former executives, including former Chief Executive Officer John Stumpf, marking the first federal action against individuals for their role in the bank's three-year sales practices scandal.

Oil falls 2% as specter of China virus threatens fuel demand

Oil prices fell 2% on Thursday on concern that the spread of a virus from China could lower fuel demand if it stunts economic growth, but losses were limited by a drawdown in U.S. crude inventories.

Dollar up vs euro as ECB holds rates steady, launches review

The dollar rose against the euro on Thursday after the European Central Bank held interest rates steady and launched a broad review of its policy that was likely to see new President Christine Lagarde redefine the ECB's main goal and how to achieve it.

American, Southwest say demand helping competitors while 737 MAX sits parked

Healthy travel demand is cushioning results for American Airlines Group Inc and Southwest Airlines Co , the two said on Thursday, while warning they are losing customers as their Boeing 737 MAX jets remain parked in a global grounding.

Ex-Wells Fargo executives face civil charges, multimillion-dollar fines from U.S. bank regulator

A U.S. bank regulator announced Thursday that several senior former Wells Fargo executives face potential lifetime industry bans and millions of dollars in civil penalties for their roles in the bank's long-running sales practices scandal.

Exclusive: Guyana opening search for oil firm to trade its crude - official

Guyana's government next month plans to begin a search for an oil company or trading firm to market its share of the South American country's crude, the director of the Department of Energy, Mark Bynoe, said in an interview.

Xerox nominates new HP board after buyout rebuffs

Xerox Holdings Corp said on Thursday it plans to nominate 11 independent candidates to HP Inc's board, seeking to take control of the personal computer maker after several rejections of its $33.5 billion buyout offer.

Wall Street pares losses on positive coronavirus news

Wall Street struggled for direction on Thursday as investors digested mixed earnings and developing news about the coronavirus outbreak emanating from China.

French investigators to move ahead with Ghosn prosecution over palace party

French prosecutors investigating a party that former Renault-Nissan boss Carlos Ghosn threw for his wife at the sumptuous Versailles palace will in the next few weeks ask judges to examine the case, bringing a prosecution a step closer.

Coronavirus fears weigh on global equity markets

The biggest tumble in Chinese stocks in more than eight months led global equity markets lower on Thursday as concern mounted about the coronavirus outbreak in China.

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