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Updated: 3 years 47 weeks ago
SEC orders Wells Fargo pay $35 million for recommendations of high-risk products
The U.S. Securities and Exchange Commission said on Thursday it ordered Wells Fargo & Co to pay $35 million to settle charges it failed to adequately supervise investment advisers who were recommending high-risk products.
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Texas prosecutors accuse Arkema, executives of failures over chemical fire
Jurors in the criminal case against the U.S. arm of a French company on Thursday heard it routinely stored combustible chemicals where floodwaters could reach them and failed to alert emergency workers as toxic fires erupted.
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Highlights: Fed policymakers on why diversity matters and how to get there
Several U.S. Federal Reserve policymakers told Reuters why increasing diversity within the U.S. central bank system matters. Here are some highlights:
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Too white, too male: Fed takes on diversity one bank board member at a time
The Federal Reserve, long criticized for being too white and male, crossed a substantial milestone last year: for the first time in its 107-year history, white men held fewer than half of board seats at the Fed's 12 regional outposts.
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Global funds cut equity exposure in turbulent February, eye virus risk: Reuters poll
Global funds changed course in February and recommended a cut to equity allocations in their model balanced portfolio after taking them to a two-year high in January, instead suggesting an increase in bond holdings, Reuters polls showed.
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Beyond Meat posts profit miss, dragged by investment, marketing costs; shares fall
Beyond Meat Inc on Thursday missed quarterly earnings expectations due to higher costs, and said Executive Chairman Seth Goldman would give up his executive status, while remaining chair of the board, sending shares down 10% in after-hours trade.
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Facebook cancels developer conference as tech companies respond to virus
Facebook Inc said on Thursday it would cancel its annual developer conference due to fears over the coronavirus, as growing concerns about the economic impact of the global outbreak drove Wall Street to tumble for a sixth straight day.
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Global shares head for worst week since 2008 financial crisis
Global share markets headed for the worst week since the darkest days of the financial crisis in 2008 as investors braced for the coronavirus to morph into a pandemic and derail world economic growth.
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Blowout fear for forex markets as coronavirus stirs dormant volatility trades
With this week's coronavirus-driven rout having shaken awake previously slumbering euro-dollar markets, the spotlight is back on the "short volatility" trades that some regulators fear could trigger a blowup on world markets.
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Is new Disney CEO Bob Chapek up to the task?
A global pandemic and the challenge of figuring out the future of entertainment greeted Bob Chapek on Wednesday as he took over as Chief Executive Officer of Walt Disney Co .
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Mexico's state-run Pemex posts steep 2019 loss in blow to president's revival plan
Petroleos Mexicanos posted a $18.3 billion net loss for 2019 on Thursday, nearly doubling the previous year's loss and dealing a major blow to the Mexican president's quest to revive the heavily-indebted state oil company.
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Mylan warns of possible drug shortages, financial hit due to coronavirus
Drugmaker Mylan NV said on Thursday it expects the coronavirus outbreak to impact its financial results and warned of drug shortages in case of continued spread of the virus, sending shares of the company down 3.6%.
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Europe looking for positive signal from U.S. on trade: EU lawmaker
The European Union hopes to de-escalate trade tensions with the United States but wants Washington to lower steel tariffs or make another goodwill gesture after a series of concessions by Brussels in recent years, a top EU lawmaker said Thursday.
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Fed seen cutting rates amid virus threat, low inflation
The Federal Reserve may need to move aggressively to cut borrowing costs to cushion the economy from the effects of the rapid spread of the new coronavirus, which sent global stocks tumbling this week.
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Investment advisors worry U.S. response to coronavirus is too little too late
Investment-advisors are increasingly worried that U.S. authorities are not be doing enough to prevent a widespread outbreak of coronavirus in the country, potentially adding further downside to already-battered markets.
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Facebook to publicly track political sponsored content after Bloomberg's paid memes
Facebook Inc will provide a way for people to track political sponsored content on Facebook and Instagram ahead of the U.S. presidential election, it said on Thursday.
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Investors ditch market risk as stocks fall into correction
Fears of a sustained global economic impact as the coronavirus rapidly spreads beyond China have sent investors scrambling to find safety less than 10 days after the U.S. stock market set record highs.
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Occidental posts quarterly loss on impairment, charges
Occidental Petroleum Corp reported a quarterly loss on Thursday, as the oil and gas producer took more than $1.7 billion in impairment and other charges.
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Bed Bath & Beyond to cut about 500 jobs; expects about $26 million charge
Bed Bath & Beyond Inc would cut about 500 jobs, including management positions, as part of a restructuring program to turn around its business, the home-furnishing retailer said on Thursday.
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