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February 22, 2020
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Morgan Stanley to get $375 million termination fee if E*Trade walks away from deal

Reuters
People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermid (Reuters) – 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......
Reuters - Business

U.S. SEC probes Altria’s investment in Juul: source

Reuters
FILE PHOTO: Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia, U.S., September 26, 2019. REUTERS/Elijah Nouvelage/File Photo (Reuters) – U.S. regulators have opened a probe regarding Marlboro maker Altria Group Inc’s (MO.N) investment in e-cigarette maker Juul Labs Inc, according to a person familiar......
Reuters - Business

EBay in discussions with multiple parties for sale of classified business

Reuters
FILE PHOTO: The German headquarters of online marketplace eBay is pictured at Europarc Dreilinden business park south of Berlin in Kleinmachnow, Germany, August 6, 2019. REUTERS/Fabrizio Bensch (Reuters) – EBay Inc (EBAY.O) is in discussions with multiple candidates regarding a potential transaction for its classified-ads business, the company said on......
Reuters - Business

Coronavirus fears, U.S. business data drag down Wall Street

Reuters
NEW YORK (Reuters) – 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. Declines were led......
Reuters - Business

Branson says new Virgin cruise line will overcome coronavirus fears

Reuters
DOVER, England (Reuters) – 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. Despite the unfortunate timing, with passengers on one ship quarantined in Japan......
Reuters - Business

Wells Fargo to pay $3 billion to U.S., admits pressuring workers in fake-accounts scandal

Reuters
WASHINGTON (Reuters) – Wells Fargo & Co (WFC.N) will pay $3 billion to resolve criminal and civil probes into fraudulent sales practices and 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. FILE PHOTO:......
Reuters - Business

Wells Fargo to pay $3 billion to U.S. authorities to resolve probe into fake accounts

Reuters
WASHINGTON (Reuters) – Wells Fargo & Co (WFC.N) and one of its units will pay $3 billion to resolve criminal and civil probes into years of fraudulent sales practices, U.S. authorities said on Friday, wrapping up one of the last one major investigations looming over the bank. FILE PHOTO: A......
Reuters - Business

Factbox: Remaining hurdles for scandal-hit Wells Fargo

Reuters
FILE PHOTO: An 1860’s era stagecoach is displayed at the Wells Fargo & Co. bank in downtown Denver, Colorado, U.S. April 13, 2016. REUTERS/Rick Wilking/File Photo (Reuters) – Wells Fargo & Co (WFC.N) has racked up well over $7 billion in penalties since a sales practices scandal erupted in 2016,......
Reuters - Business

Stocks slip as coronavirus fears spur safe-haven buying

Reuters
NEW YORK (Reuters) – 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. Traders work on the floor of the New York Stock......
Reuters - Business

Federal prosecutors investigating whether Boeing pilot knowingly lied to FAA: NYT

Reuters
FILE PHOTO: Grounded Boeing 737 MAX aircraft are seen parked in an aerial photo at Boeing Field in Seattle, Washington, U.S. July 1, 2019. REUTERS/Lindsey Wasson/File Photo (Reuters) – Federal prosecutors investigating Boeing Co (BA.N) are examining whether the U.S. planemaker knowingly misled the Federal Aviation Administration while it was......
Reuters - Business

In next downturn, Fed may opt for quick, strong action

Reuters
NEW YORK/SAN FRANCISCO (Reuters) – In the next economic downturn, the Federal Reserve and other central banks may need to roll out their big guns sooner and use them more aggressively, or risk getting mired in growth-sapping deflation or worse. FILE PHOTO: Federal Reserve Board Governor Lael Brainard speaks at......
Reuters - Business

Big tech cos pull out of San Francisco conferences on coronavirus concerns

Reuters
FILE PHOTO: The Verizon store in Superior, Colorado, U.S., July 27, 2017. REUTERS/Rick Wilking (Reuters) – Verizon Communications Inc (VZ.N) has pulled out of the RSA cyber security conference due to coronavirus-related concerns, the organizer said here on Friday. RSA also said that AT&T Cybersecurity will not participate in the......
Reuters - Business

Take Five: ‘Our currency, your problem’ – all over again

Reuters
(Reuters) – 1/KING DOLLAR Traders work on the floor of the New York Stock Exchange shortly after the opening bell in New York, U.S., February 6, 2020. REUTERS/Lucas Jackson The dollar juggernaut rolls on. The U.S. currency has rocketed to a near three-year high versus the euro EUR=, a 10-month......
Reuters - Business

Elon Musk’s SpaceX to raise $250 million, valuing it at $36 billion: CNBC

Reuters
FILE PHOTO: SpaceX founder and chief engineer Elon Musk speaks at a post-launch news conference to discuss the SpaceX Crew Dragon astronaut capsule in-flight abort test at the Kennedy Space Center in Cape Canaveral, Florida, U.S. January 19, 2020. REUTERS/Joe Skipper (Reuters) – Elon Musk’s SpaceX is looking to raise......
Reuters - Business

U.S. watchdog proposes national standard for disclosing expired debt

Reuters
WASHINGTON (Reuters) – The U.S. consumer watchdog on Friday proposed establishing a national standard for how debt collectors must inform borrowers when they cannot be sued for expired debt. FILE PHOTO: The image of United States President George Washington is seen on an engraving plate for a US one dollar......
Reuters - Business

Deere’s shares hit all-time high on unexpected rise in quarterly profit

Reuters
CHICAGO (Reuters) – Deere & Co’s (DE.N) shares hit an all-time high on Friday after the company reported an unexpected increase in first-quarter profit, but the world’s largest farm equipment maker warned the outbreak of coronavirus would hit sales and earnings in the second quarter. Shares surged 9.7% to their......
Reuters - Business

Verizon withdraws from RSA conference on coronavirus concerns

Reuters
FILE PHOTO: The Verizon store in Superior, Colorado, U.S., July 27, 2017. REUTERS/Rick Wilking (Reuters) – Verizon Communications Inc (VZ.N) has pulled out of the RSA cyber security conference due to coronavirus-related concerns, the organizer said here on Friday. RSA also said that AT&T Cybersecurity will not participate in the......
Reuters - Business

Lawsuit in NY says ex-hedge fund manager Falcone reneged on loans, wrongly sold a Warhol

Reuters
NEW YORK (Reuters) – Former hedge fund manager Philip Falcone has been sued for more than $65.8 million after he allegedly defaulted on a series of loans and improperly sold some of the underlying collateral, including an Andy Warhol painting. FILE PHOTO: Philip Falcone, chief executive officer and chief investment......
Reuters - Business

Wall Street slides as gloomy data adds to coronavirus fears

Reuters
(Reuters) – U.S. stock indexes fell on Friday after data showed U.S. business activity stalled in February, and a spike in new coronavirus cases in China and elsewhere sent investors scrambling for safer assets such as gold and government bonds. Traders work on the floor of the New York Stock......
Reuters - Business

New York Times plans to name Meredith Kopit Levien as next CEO: Bloomberg News

Reuters
FILE PHOTO: The motorcade of U.S. President-elect Donald Trump makes its way past the New York Times building after a meeting in New York U.S., November 22, 2016. REUTERS/Shannon Stapleton (Reuters) – New York Times Co (NYT.N) is expected to name company insider Meredith Kopit Levien as its next chief......

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