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Markets End the Day Lower

Stocks are ending moderately lower on Wall Street following a surprisingly weak trade report from China, the AP reports. Bank stocks fell the most Thursday. Wells Fargo lost 1% after the bank's embattled CEO abruptly left the company late Wednesday. Basic materials makers also fell. Those companies rely heavily on...
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Wells Fargo CEO Steps Down Amid Sales Scandal

Business & Finance : Business from Newser

Wells Fargo's embattled CEO John Stumpf is stepping down as the nation's second-largest bank is roiled by a scandal over its sales practices, the AP reports. The San Francisco bank said Wednesday that Stumpf is retiring effective im...

GOSSIP: Today's Wall Street Buzz in 60 Seconds (GS, JPM, BCS)

Business & Finance : Business Insider: Money Game

Goldman Sachs is shuttering its super-profitable Global Macro Prop Trading desk to comply with the Volcker Rule. Wells Fargo's CFO, Howard Atkins, abruptly departed the bank last week. Reportedly, he's involved in an ongoing interna...

The Wells Fargo scandal is far from over

Business & Finance : Business Insider: Money Game

Wells Fargo CEO John Stumpf on Wednesday retired in the face of a massive scandal that has dragged the bank down for over a month. Stumpf stepped down after the news that employees of the bank opened 2 million accounts in the name o...

Frontrunning: October 13

Business & Finance : Zero Hedge

Weak China data, stronger dollar send global stocks skidding (Reuters) Oil price gains limited by higher OPEC output, U.S. crude stocks (Reuters) A Trans-Atlantic Revolt Against Central Bankers (WSJ) Wells Fargo CEO Stumpf Quits in ...

New Wells Fargo CEO has 'one-week window' to prove he's right choice, critic says

Business & Finance : LA Times: Business

Scandal-plagued Wells Fargo & Co. opted to choose a longtime insider, Timothy Sloan, to replace John Stumpf after the embattled chief executive abruptly quit on Wednesday. But Sloan, who had been Well Fargo’s president, faces scruti...


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