Finance

Wells Fargo fined $185 million for improper account openings

Wells Fargo fined $185 million for improper account openings

And that's not all; the CFPB says Wells Fargo will pay back its defrauded customers. The bonus incentives in the consumer finance business have been a motivation for employees of any bank to get more business for their employers. A Moorhead woman is sharing her Wells Fargo horror story, after hearing that millions of others had phony accounts opened in their names, too. "This widespread practice gave the employees credit for opening the new accounts, allowing them to earn ... Read More

Continue Reading »

United States household incomes rise in first since recession

United States household incomes rise in first since recession

The median American income grew faster in 2015 than at any point on record, according to a report released Tuesday by the Census Bureau. Black households increased by 4.1%. Mishel. But, notably, the report also included some data on two striking differences between households in metropolitan areas - big cities and their surrounding counties - and households outside of metropolitan areas in the previous year. Read More

Continue Reading »

Search Continues For Manchester Bank Robber, Police Say

Search Continues For Manchester Bank Robber, Police Say

After receiving an undisclosed amount of money, he fled the area on foot. He also is connected to an August 19 attempted robbery at a Citizens Bank branch, 6201 N. He is considered armed and risky. Anyone with information is urged to call the Federal Bureau of Investigation at 215-418-4000, or Philadelphia police by calling 215-686-TIPS (8477), texting a tip to PPDTIP (773847), or clicking here to submit a tip anonymously. Read More

Continue Reading »

Ailing Korean shipper Hanjin moves to resolve cargo chaos

Almost 80 Hanjin vessels have been either seized or denied cargo handling or docking at ports in countries including the US, China, Japan, Spain and Canada, South Korea's government said Monday. The government said it is preparing to have rival Hyundai Merchant Marine buy out Hanjin's vessels. But Hanjin Group can not afford to seek out new loans for the shipping unit that it has given up as its flagship company Korean Air too sits on astronomical debt ratio of 1,082 percent. Read More

Continue Reading »

EU finance ministers line up behind tax ruling against Apple

EU finance ministers line up behind tax ruling against Apple

The Irish government feels that defending itself as a stable choice for substantive investment is crucial to its continued economic success. This has set-up a major confrontation within the EU. This last statement is especially interesting given that the USA has long applied extra-territorial laws in pursuit of its own interests, and its 2010 Federal law, the Foreign Account Tax Compliance Act (FATCA), enforces the requirement for United States persons including those living outside the U.S. Read More

Continue Reading »

Hanjin Shipping to pay handlers to unload US-bound ships

Its bankruptcy would be by far the largest in the history of container shipping, which is suffering its worst downturn in six decades because of slumping global trade and a slowdown in China. Hanjin Shipping has been keeping its vessels waiting off the U.S. coast such as Long Beach Port in California due to a possibility that creditors will attach them. Read More

Continue Reading »

HD Supply Holdings (NASDAQ:HDS) Issued With 'Neutral' Rating At JP Morgan

HD Supply Holdings (NASDAQ:HDS) Issued With 'Neutral' Rating At JP Morgan

HD Supply Holdings, Inc.'s ( HDS ) ended its day with a loss of -12.08% and finalized at the price of $31.88. Three Corner Global Investors Lp reduced its stake in HD Supply Holdings Inc by 13.52% during the most recent quarter end. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of USA and global copyright law. Read More

Continue Reading »

US Judge Gives Hanjin Shipping a Reprieve Allowing Ships to Dock

Hanjin filed for what is known as Chapter 15 bankruptcy protection in the United States and sought an order recognizing proceedings in South Korea and protecting its USA assets. The South Korean government has said government-backed creditors would offer another 100bn won if collateral was provided. It was not clear whether or not Hanjin Shipping under court receivership has money to spare to employ dockers in order to unload cargoes, the Wall Street Journal explained. Read More

Continue Reading »

US tries rescue mission in Afghanistan, hostages not found

US tries rescue mission in Afghanistan, hostages not found

When approval was granted by President Obama the next day, the American assault force headed back to the area where they believed the two hostages were being held and engaged an enemy force at a compound believed to contain the hostages. "The president authorized this mission when it was presented to him, with the careful review and recommendation of his national-security team, soon after the Pentagon submitted their request", a senior administration official said. Read More

Continue Reading »

EPA shuts down 17 wells in Osage Nation after Oklahoma quake

EPA shuts down 17 wells in Osage Nation after Oklahoma quake

Several producers, and now the U.S. Environmental Protection Agency, are facing lawsuits because of seismic activity allegedly linked to oilfield wastewater disposal in Oklahoma and other states. The drilling technique known as hydraulic fracturing, or "fracking", also generates large amounts of wastewater. When oil and gas is pumped out of the ground, salty water often flows out with it. Read More

Continue Reading »