Editor Brian Harrod Provides Comprehensive up-to-date news coverage, with aggregated news from sources all over the world from the Roundup Newswires Network
Wells Fargo & Co received a cease-and-desist order Friday from the Federal Reserve that will limit asset growth to $1.95 trillion pending compliance, board oversight and risk management improvements. The threat to net income prompted a number of Monday downgrades, with Morgan Stanley and JPMorgan assigning Underweight ratings and Citigroup and Keefe, Bruyette & Woods downgrading to Neutral or Market Perform.
Steve Sosnick, chief options strategist at Interactive Brokers, discusses the market selloff, the VIX and his options strategy for volatility. He speaks with Bloomberg's Julie Hyman on "Bloomberg Markets." (Source: Bloomberg)
A pending merger between two banks with Columbus operations will require a separate sale of four branches in the city for the deal to be completed. MainSource Financial Group, based in Greensburg, is being purchased by First Financial Bancorp, based in Cincinnati, Ohio, the companies announced July 25. The transaction, valued at $1 billion, is expected to close in the first quarter of this year.
Three MainSource banking centers and one drive-through location in Columbus must be sold to a third party for the U.S. Department of Justice to approve the $1 billion merger of MainSource Financial Group and First Financial Bancorp, the companies have announced. About 25 MainSource employees will be affected by the decision, of which 20 work in Columbus, said Archie Brown Jr., chairman, president and CEO of Greensburg-based MainSource Bank.
Concerned about Bank of America's phase-out of a program that provided free checking, two Democratic members of Congress on Friday sought information about the banking giant's action. File photo taken in 2014 shows the corporate sign in front of a Bank of America branch office in Oakland, California.
Sen. Susan Collins explained her vote to pass the recent tax bill citing the expert advice she received from Glenn Hubbard, dean of the Columbia Business School, and Douglass Holtz-Eakin, a Republican policy adviser and president of the American Action Forum. "Even the joint committee on taxation has projected that the tax bill would stimulate the economy to produce hundreds of billions of additional revenue.
A presidential candidate is accused of arranging hush money to conceal a mistress in a sensational story ripped straight from the tabloids. Six years ago, federal prosecutors put two-time Democratic presidential contender John Edwards on trial for just that and ended up failing to convict the North Carolina politician.
Some of the tax cut's most ardent fans work on Wall Street, where the new law has helped turbocharge the stock market rally and is set to deliver a major boost to the bottom lines of the biggest banks. So, investment titan Larry Fink sounded like a wet blanket Tuesday when he called on top CEOs to spell out how they plan to use their tax windfall, while bearing in mind that his firm, BlackRock - the largest asset manager in the world, overseeing more than $6 trillion - will now insist that they contribute to the broader social good rather than just maximize profits.
Philip Dunton Murphy was sworn in as New Jersey's 56th governor, vowing to make good on economic promises unfulfilled by his Republican predecessor and counteract what he called catastrophic social and fiscal policy by the Trump administration. Goldman Sachs Group Inc. senior director, pledged to help foster a "stronger and fairer" New Jersey that creates higher-wage jobs, increases public-school funding, provides free access to community college, helps small businesses and ensures the wealthiest pay "their fair share" in taxes.
The U.K. shouldn't give up hope of getting financial services included in a final trade agreement with the European Union, with a Bloomberg survey of the EU's 27 remaining governments revealing divergences of opinion. While nearly all of the EU's capitals consider maintaining unity of the bloc their main priority, a few take a softer line on financial services than the one expressed by Michel Barnier, the EU's chief Brexit negotiator.
According to Federal Election Commission records, Chelsea Manning has filed to run for Senate as a Democrat. Manning will run against incumbent Sen. Ben Cardin, D-Md.
Fans of President Donald Trump who use marijuana say Attorney General Jeff Sessions' move to tighten federal oversight of the drug is the first time they've felt let down by the man they helped elect. Missouri Gov. Eric Greitens acknowledges he was "unfaithful" in his marriage but denies allegations that he blackmailed the woman he had an extramarital affair with to stay quiet.
Influential Upland businessman Mark Leggio was recently fined $6,000 by the Federal Election Commission for excessive contributions made to the campaign of a California congresswoman. The fine and order to cease and desist were detailed in an agreement reached in May between Leggio and the commission, according to FEC records.
Retailers are reporting record holiday sales this season of $598 billion as of Christmas Eve, fueled by confidence in the pro-business, pro-jobs economic polices of President Donald Trump of cutting Obama-era regulations and enacting major tax cuts and reforms. Yet media reports by CBS, AP and the Wall Street Journal all failed to mention President Trump in their reports on the record sales.
Zuber, 59, currently serves as the E. A. Griswold Professor of Geophysics and the vice president for research at Massachusetts Institute of Technology , where she is responsible for research administration and policy. She chairs the National Science Board, having been appointed as a member by President Barack Obama in 2013.
To call your Member of Congress to say "NO" to the tax deform bills?: Toll free number for the US Capitol Switchboard 1-866-220-0044 or 1-888-516-5820 - Call NOW and call often! $67 billion in tax cuts to 11 donor families to the GOP By Lynda Carson - December 5, 2017 In what appears to be a blatant GOP kick back scheme masquerading as the so-called tax cuts and jobs act, reportedly 11 families that are major campaign contributors to Republican leaders in Congress are set to receive $67.5 billion alone in estate tax cuts, if Congress is able to reconcile the two tax bills voted on by the House and Senate recently. Making matters worse, the tax bill/kick back scheme will increase the national debt by $1.4 trillion dollars.
This week, we're joined by The Guardian's Luke Harding to talk about his new book, Collusion: Secret Meetings, Dirty Money, and How Russia Helped Donald Trump Win. We recorded this interview a day before we learned that Trump's former National Security Adviser, Michael Flynn, pleaded guilty to lying to the FBI and is cooperating with special counsel Robert Mueller's investigation.
Alabama Republican Roy Moore has celebrated his isolated fight against the political establishment in both parties. The outsider story may resonate with Alabama voters, but the reality has a clear downside: The Senate candidate and his allies are almost completely cut off from the GOP's traditional donor network and struggling to raise money for the final-weeks sprint to Election Day.
A federal appeals court on Friday revived a proposed class-action lawsuit accusing Capital One Financial Corp of imposing illegal overdraft fees on customers. People walk past a Capital One banking center in New York's financial district January 17, 2013.