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Reuters Money

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Reuters Money

Wells Fargo pays $65 million to settle 'cross-sell' fraud claims with New York

Mon, Oct 22, 2018

Wells Fargo & Co will pay $65 million to settle claims that it misled investors about its "cross-selling" business strategy, the New York Attorney General's office said on Monday. ...

Barington pushes for independent chair at Bloomin' Brands

Mon, Oct 22, 2018

Activist investor Barington Capital Group L.P. on Monday turned up the heat on Outback Steakhouse owner Bloomin' Brands Inc's board by urging it to hire an independent chair to push management to... ...

Freudenberg picks JP Morgan, Morgan Stanley for Vibracoustic IPO: sources

Mon, Oct 22, 2018

German technology group Freudenberg picked JP Morgan and Morgan Stanley to act as so-called global coordinators for a planned 2019 stock market flotation of its Vibracoustic unit, people close to... ...

Danske Bank was behind large share of Estonian cross-border payments in 2008-2015: central bank

Mon, Oct 22, 2018

Danske Bank, which is involved in a 200 billion euro ($230 billion) money laundering scandal in Estonia, processed a large share of the country's cross-border payments between 2008 and 2015, its... ...

Global banks curb China travel after UBS banker stopped from leaving

Mon, Oct 22, 2018

Global banks including Citigroup and Standard Chartered have asked their private banking staff to postpone or reconsider travel to China after authorities there prevented a UBS banker from leaving... ...

Speculators pare U.S. 10-year T-note net shorts before Fed minutes

Fri, Oct 19, 2018

Speculators' net bearish bets on U.S. 10-year Treasury note futures fell a tad earlier this week before Federal Reserve's release of minutes from its policy meeting last month, according to Commodity... ...

Bank Vontobel buys Lombard Odier business in North America

Fri, Oct 19, 2018

Bank Vontobel will acquire the international portfolio of U.S.-based clients from Swiss private banking peer Lombard Odier as it seeks to expand its footprint in the region, Vontobel said on Friday. ...

China to allow bank wealth-management funds to be invested in stocks

Fri, Oct 19, 2018

China's banking regulator said on Friday it plans to start letting funds from products publicly sold by banks' wealth management subsidiaries be directly invested in shares. ...

U.S. fund investors pull most cash since June from stocks: Lipper

Thu, Oct 18, 2018

Investors slammed U.S.-based stock funds during the latest week, pulling $17.5 billion, the most cash from such investments since June, according to Lipper data on Thursday. ...

Goldman Sachs joins growing band of businesses snubbing Saudi conference

Thu, Oct 18, 2018

Goldman Sachs Group Inc on Thursday joined the growing list of high-profile businesses snubbing a Saudi investment conference next week amid mounting pressure on Riyad over the disappearance of... ...