OPEC finally blinked in its two-year price war with U. S. oil producers. Whether that translates into a financial victory for the American shale industry remains to be seen.
Oil prices and the shares of U. S. drillers kept climbing on Thursday, a day after the Organization of Petroleum Exporting Countries promised its first production cut in eight years.
By Renae Merle, The Washington Post
WASHINGTON – For the second time in two weeks, John Stumpf, the long-time chief executive of Wells Fargo, entered into the halls of Congress to take a bipartisan beating from lawmakers over the bank’s role in a scandal involving the creation of hundreds of thousands of sham accounts to meet aggressive sales goals.
“Fraud is fraud and theft and is theft.
By Jonnelle Marte, The Washington Post
One major group directly affected by the Wells Fargo scandal — the customers who had fraudulent accounts opened in their names — may have their hands tied.
As lawmakers pointed out at congressional hearings Thursday and last week, many Wells Fargo customers are blocked from suing the company because of arbitration clauses, little-known contracts that often ban customers from taking part in class-action lawsuits.
Treasury yields on Friday reversed an early decline to trade slightly higher, as Wall Street attempted to move past worries about the financial health of Deutsche Bank AG, which a day earlier unsettled global markets and pushed Treasury yields to a three-week low.
By Fergal O’Brien, Jill Ward, Bloomberg
Pubs, retailers, automakers. Name the business and it’s likely they’re looking for an answer to what Brexit will actually mean.
Almost 100 days since Britain voted to leave the European Union, firms are still in the dark. Prime Minister Theresa May has offered little insight into her exit strategy, leaving executives to make decisions on investment and hiring with no clarity on what the business environment might look like, or how easy it will be for the U.