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Wells Fargo CEO forfeits millions as board orders review

Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company's board investigates the bank's sales practices.

Recent Business News

Caesars strikes deal to end main unit's costly bankruptcy

CHICAGO Caesars Entertainment Corp said on Tuesday it has struck a crucial $5 billion deal with most of its casino operating unit's creditors, resolving billions of dollars in legal claims and paving the subsidiary's way out of a costly bankruptcy.

Sep 27 2016

Uber aims to win Japan's heart through its stomach

TOKYO Uber Technologies [UBER.UL] on Wednesday said it will launch a food-delivery service in Japan as it looks for new ways to enter a potentially massive market where its ride-hailing service has been blocked by regulation and opposition from taxi drivers.

Japan, Tech Sep 27 2016

WTO cuts 2016 world trade growth forecast to 1.7 percent, cites wake-up call

GENEVA The World Trade Organization cut its forecast for global trade growth this year by more than a third on Tuesday, reflecting a slowdown in China and falling levels of imports into the United States.

Sep 27 2016

RBS to pay $1.1 billion to resolve U.S. regulator's mortgage cases

NEW YORK Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration (NCUA) said on Tuesday.

Sep 27 2016

Oil climbs after industry data shows U.S. inventory draw

SINGAPORE Oil prices rose in mixed trading on Wednesday, after sharp losses in the previous session, as industry data showed a surprise draw in U.S. crude stocks, although worries over a lack of agreement among producers to curb output kept a lid on gains.

1:14am EDT

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