October 11, 2018

Wells Fargo touts good deeds to get back in lawmakers’ good graces

Tired of being cast as the poster child for big banks behaving badly, Wells Fargo & Co has been expanding its presence in the nation's capital to convince lawmakers it has changed and talking up its charitable work in their districts.
October 11, 2018

Sears skips payments to vendors amid bankruptcy concerns

Sears Holdings Corp has started to miss payments to vendors, adding to concerns about its future after sources said on Wednesday that the U.S. department store operator was preparing to file for bankruptcy in the coming days.
October 11, 2018

Chairman and CEO together or separate? Citigroup has to decide

JPMorgan Chase & Co and Bank of America Corp have placed the jobs of chairman and chief executive in the hands of one person, and now No. 3 Citigroup Inc must decide whether to follow suit.
October 11, 2018

Asia shares plummet after Wall Street rout; Shanghai at near four-year lows

Asian share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe.
October 11, 2018

A surprising number of first-time cannabis consumers said they’d try marijuana in place of beer — but big beer-makers aren’t worried

27% percent of potential first-time cannabis consumers said they'd try marijuana in place of beer, according to a survey from consulting firm A.T. Kearney. Some 54% of US and Canadian survey respondents said they'd try mariju...
October 11, 2018

There’s a mismatch at big US investment firms on the importance of AI, and it could highlight a level of ‘complacency’

While artificial intelligence is all the rage, few big US funds are testing it out, according to a new report from Fidelity.  Investors have high hopes for how AI can augment, not replace, investment activities.  In...
October 11, 2018

BMW to gain control of China venture in milestone deal for foreign carmakers

Germany's BMW said it will take majority control of its main China joint venture for 3.6 billion euros ($4.2 billion), the first such move by a global carmaker as Beijing starts to relax ownership rules for the world's biggest auto market.
October 11, 2018

Bayer gets tentative ruling for new trial in weed-killer case

Bayer AG's Monsanto unit received a tentative ruling for a new trial on the $250 million in punitive damages awarded by a jury to a groundskeeper who alleged the company's glyphosate-based weed killers, including Roundup, caused his cancer.
October 11, 2018

FT says Murdoch in line for Tesla chair. Musk reply: incorrect

Outgoing Twenty-First Century Fox Inc Chief Executive James Murdoch is the lead candidate to replace Elon Musk as Tesla Inc chairman, the Financial Times reported on Wednesday, but Musk in a tweeted reply to the newspaper said, "This is incorrect."
October 11, 2018

Rattled Wall Street stock investors fret about a correction

The deepest one-day selloff in Wall Street stocks in eight months has investors using the market equivalent of a dirty word: "correction".