News

Financial Performance

Wells Fargo Profit Falls on Lower Interest Rates

The bank's CFO pointed to loan and deposit growth in the third quarter as evidence of strong fundamentals.

Matthew Heller
October 16, 2019
The Economy

IMF Cuts 2019 World Growth Forecast to 3%

“Further escalation of trade tensions and associated increases in policy uncertainty" could result in lower-than-expected growth next year, the IMF says.
M&A

Intel Buys Software Business Smart Edge

The tech giant is aiming to sell the software into equipment for 5G technology.
Regulation

Pelosi’s Drug Plan Would Save Medicare $345B

House Democrats say a CBO analysis shows the bill will "rein in the soaring cost of prescription drugs and level the playing field for American patients."
M&A

Thoma Bravo Offers $3.9B for U.K. Cyber Firm Sophos

The news sent Sophos shares up, but analysts cautioned on Brexit risks.
Regulation

SEC Pulls Plug on Telegram Initial Coin Offering

“The SEC isn’t playing around. It's time these [ICO] companies recognize this.”
People

Red Hat Fires CFO Over Workplace Standards

Eric Shander, who had been with the software firm since 2015, helped guide it through its acquisition by IBM.
People

SEC Names White House Aide to PCAOB

Rebekah Goshorn Jurata replaces Kathleen Hamm, a cybersecurity expert who had been seeking a second term on the board.
People

SAP CEO Steps Down

Bill McDermott will be replaced by two board members, effective immediately.
Regulation

Fed OKs Rollbacks of Post-Crisis Banking Rules

The Board of Governors voted 4-1 in favor of the changes, with the dissenter saying they would weaken core safeguards.
Regulation

CFTC Chairman Says Cryptocurrency Ether is a Commodity

Ether futures will begin trading in U.S. markets in the near future.
People

Target Names SVP Michael Fiddelke as CFO

The retailer conducted an extensive global search before appointing Fiddelke to succeed Cathy Smith.
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