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Wells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandal - Wells Fargo & Co has agreed to pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and has admitted to pressuring employees in a fake-accounts scandal, U.S. officials said on Friday, wrapping up one of the last major investigations looming over the bank.
Fri, 21 Feb 2020 21:36:33 -0500
Morgan Stanley to get $375 million termination fee if E*Trade walks away from deal - Morgan Stanley will receive a $375 million breakup fee if E*Trade Financial Corp walks away from its $13 billion deal for the discount brokerage, the U.S. bank said on Friday.
Fri, 21 Feb 2020 20:27:47 -0500
Inside the Philip Morris campaign to 'normalize' a tobacco device - At Germany's Bambi Awards for the media industry in November, celebrities posed for red-carpet photos against a backdrop of established luxury brands. Alongside the likes of Mercedes-Benz and Swiss watchmaker Chopard was a newer name: IQOS, a "reduced risk" heated-tobacco device sold by cigarette maker Philip Morris International Inc.
Fri, 21 Feb 2020 20:12:03 -0500
U.S. SEC probes Altria's investment in Juul: source - U.S. regulators have opened a probe regarding Marlboro maker Altria Group Inc's investment in e-cigarette maker Juul Labs Inc, according to a person familiar with the matter.
Fri, 21 Feb 2020 19:45:24 -0500
EBay in discussions with multiple parties for sale of classified business - EBay Inc is in discussions with multiple candidates regarding a potential transaction for its classified-ads business, the company said on Friday.
Fri, 21 Feb 2020 19:32:02 -0500
Coronavirus fears, U.S. business data drag down Wall Street - U.S. stocks sold off and the Nasdaq had its worst daily percentage decline in about three weeks on Friday as a spike in new coronavirus cases and data showing a stall in U.S. business activity in February fueled investors' fears about economic growth.
Fri, 21 Feb 2020 18:55:02 -0500
Branson says new Virgin cruise line will overcome coronavirus fears - British entrepreneur Richard Branson heralded his first cruise ship "Scarlet Lady" on Friday as targeting a younger generation of holidaymakers with a range of attractions that he believes will outweigh any fears around coronavirus.
Fri, 21 Feb 2020 18:27:55 -0500
Factbox: Remaining hurdles for scandal-hit Wells Fargo - Wells Fargo & Co has racked up well over $7 billion in penalties since a sales practices scandal erupted in 2016, and continues to face headwinds.
Fri, 21 Feb 2020 17:13:20 -0500
Stocks slip as coronavirus fears spur safe-haven buying - Global equity markets slumped on Friday as the fast-spreading coronavirus drove investors into safe havens, with gold hitting a fresh seven-year high and the yield on the 30-year U.S. Treasury bond sliding to an all-time low.
Fri, 21 Feb 2020 16:56:18 -0500
Federal prosecutors investigating whether Boeing pilot knowingly lied to FAA: NYT - Federal prosecutors investigating Boeing Co are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was seeking approval for its 737 MAX jet, the New York Times reported, citing two people familiar with the matter.
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