Ailing e-truck startup Lordstown Motors found itself facing more challenges on Monday, as founder & CEO Steve Burns and CFO Julio Rodriguez resigned “after an investigation by the company’s board,” just weeks after the...more
Bay area business software powerhouse Salesforce is “in advanced talks to buy Slack Technologies,” the “buzzy newcomer on a mission to replace office email.” A deal could be announced as early as tomorrow, and it would mark...more
The European Union has unveiled a new antitrust probe and accompanying charges against Amazon over alleged the “use of non-public business data from independent sellers on its marketplace that could benefit the company’s own...more
Newly released minutes from the Fed’s January meeting show central bankers preoccupied with global risks, including the still-growing economic impact of the coronavirus, while still taking a wait-and-see approach to any...more
Ford announced yesterday that it plans to cut “thousands of jobs across Europe” as the automaker tries to cut costs while dealing with more stringent emissions rules and decreasing demand. The company didn’t say officially...more
The Southern District of New York recently declined to certify a class in a suit relating to investments in certain closed-end mutual funds, holding that individual questions overwhelmed the class-wide questions in...more
Fair Isaac Corp., creator of the “widely used FICO credit score,” unveiled plans to “roll out a new scoring system in early 2019 that factors in how consumers manage the cash in their checking, savings and money-market...more
To no one’s surprise, the Fed followed through with its months of promises and raised its benchmark interest rate by 25 basis points yesterday. The FOMC also indicated that it’s planning to raise rates again in December....more
The latest on the economic woes on Venezuela, including the status of the country’s bonds and the foreign investors that they’ve attracted (and who are now selling)....more
Its recent debt sale was enough to score Italy’s Monte dei Paschi a government bailout, one of the first since the 2008 crisis and a test case for the ECB’s new bank bailout rules....more
We learned about Navient and its allegedly trouble-filled student-loan servicing practices yesterday. Turns out the issues are not only long-standing, but they bear similarities to the mortgage-lending issues that were at...more
China’s expected to announce Q3 economic growth of 6.7 percent this week—a number envied by any other country in the world but the sign of major slowdown there. Dealbook looks at what, exactly, a less-gangbusters Chinese...more
We’ve got a number for that Wells Fargo settlement/fine, and it’s a doozy: $185 million for illegal banking practices (including secretly issuing credit cards without customer consent, signing up customers for online banking...more
Here’s a sign of the times, or at least, the changing tenor of banking in America. After years of exclusivity that saw it refusing customers with less than $10 million on hand, Goldman Sachs is opening itself up to common...more
IN THE SPOTLIGHT - The CFPB Takes First Enforcement Action Related to Data Security Practices. LIFE INSURANCE - Class Certified in Unique Fixed Indexed Annuity Case. Alleged Misrepresentations to DFS Warrant...more