Business
Wells Fargo Fires Four Retail Executives Over Accounts Scandal
The four firings, each effective on Tuesday, are the first made public since John Stumf resigned on October 12. Carrie Tolstedt, the former head of community banking, was also forced to forfeit millions of dollars in bonuses and unvested stock awards.
Business
Kraft Heinz Withdraws $143 Billion Bid For Unilever
While the work was in progress on this merger of two well-known companies that had sent shockwaves throughout the FMCG sector, the UK Prime Minister Theresa May ordered a scrutiny in the bid . On Sunday, Kraft Heinz's board, on which Warren E. Buffett and the Brazilian billionaire Jorge Paulo Lemann sit, made a decision to withdraw its offer for the consumer products giant.
Business
Energy Transfer Partners (ETP) Scheduled to Post Quarterly Earnings on Wednesday
The number of shares now owned by investors are 663.9 mln. Sell-side analyst recommendations point to a short term price target of $19.78 on the company shares. Analysts have a mean recommendation of 2.10 on this stock (A rating of less than 2 means buy, "hold" within the 3 range, "sell" within the 4 range, and "strong sell" within the 5 range).
Business
Global arms trade is flourishing, according to think tank
With a one-third share of global arms exports, the USA was the top arms exporter in 2012- 16. Nearly half of its arms exports went to the Middle East. In the Middle East arms imports have almost doubled, rising 86% when 2007-2011 was compared with 2012-2016. Aude Fleurant, the director of SIPRI's arms and military expenditure program said, "The US has delivered a lot of weapons in 2016, both very expensive weapons and strategically important weapons - missile systems, surveillance ...
Business
South Africa watchdog accuses banks of rigging the rand
The Competition Commission says it has been investigating a case of price fixing and market allocation in the trading of foreign currency pairs involving the rand since April 2015. Bank of America Merrill Lynch International Limited, BNP Paribas, JP Morgan Chase & Co, JP Morgan Chase Bank N.A, Investec Ltd, Standard New York Securities Inc., HSBC Bank Plc, Standard Chartered Bank, Credit Suisse Group; Standard Bank of South Africa Ltd, Commerzbank AG; Australia and New Zealand Banking Group ...
Business
Governor seeks report on incidents in Tamil Nadu Assembly during trust vote
Panneerselvam. The lone Indian Union Muslim League member, KAM Muhammad Abubacker, will also be voting against the motion. K Pandiarajan, a former minister and Panneerselvam loyalist, told reporters that they told Rao "the trust vote does not fit into the Constitutional scheme of things".