Bank of America, Citigroup, Wells Fargo and More Major Banks Reporting This Week

Practically all the major banks are reporting their third-quarter financial results this week. In general, financial stocks have performed in line with the markets, despite a tumultuous China trade war. At the same time, the Federal Reserve has proven to be more hawkish over the past quarter. 24/7 Wall St. has put together a preview of some of the major […]

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Detroit police chief pushes back against Rashida Tlaib's suggestion to only hire black facial recognition analysts

Detroit police chief fires back at Tlaib’s suggestion to only hire black analysts for facial recognition Detroit police chief James Craig speaks out against Rep. Tlaib’s comments. Detroit Police Chief James Craig said Thursday that it was appalling for Rep. Rashida Tlaib, D-Mich., to suggest that only black people should be hired as facial recognition analysts. Tlaib's suggestion came Monday during a tour of the Detroit Police […]

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Purdue expected to file for bankruptcy as settlement talks break down: state AGs

Johnson & Johnson didn’t cause Oklahoma opioid crisis: CFO Johnson & Johnson CFO Joseph Wolk on being ordered to pay $572 million for its role in Oklahoma’s opioid crisis. Talks between a leading opioid producer and a group of state attorneys general have broken down, meaning Purdue Pharma is expected to be heading toward bankruptcy. Continue Reading Below Earlier this […]

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The market has been going straight up in 2019 — here's why the second half could be a 'grind'

The S&P 500 rose more than 17% in the first half, making this the best first half for the index since 1997. Brian Belski of BMO Capital Markets wrote thatthe second half"will be a grind higher rather than a straight shot." Fund managers surveyed by Bank of America said the trade war and"monetary policy impotence" were the biggest tailwind risks […]

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Ex-Nissan boss Carlos Ghosn banned from living with wife as he is released on bail

Carlos Ghosn has been released on bail for a second time – but only after restrictions on contact with his wife that he described as “cruel and unnecessary”. The former Nissan and Renault boss was freed from custody after posting a 500 million yen (£3.5m) bail following his latest arrest over claims of financial misconduct, which he denies. A Tokyo […]

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German bank merger crumbles as Deutsche Bank tie-up talks with Commerzbank end

FRANKFURT (Reuters) – Deutsche Bank and Commerzbank abandoned their merger talks on Thursday, with the risks of doing a deal, restructuring costs and capital demands dashing efforts to forge a German mega-bank. After nearly six weeks of talks, Germany’s two largest banks announced that their high-level negotiations about a tie-up had ended, confirming an earlier Reuters report and raising questions […]

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