NEWS FROM WORLD OF STOCKS

Equifax CEO suddenly retires following an epic data breach affecting 143 million people

The sudden departure comes amid intensifying scrutiny of the breach and the company's handling of it. Smith was named chairman and CEO in 2005 after more than two decades as an executive of General Electric. In a regulatory filing on Tuesday, the company said Smith will not get a bonus for this year. Equifax shares have dropped 27...

In wake of Equifax hack, SEC chief rips companies for not realizing ‘we are constantly under attack’

SEC Chairman Jay Clayton called Tuesday for better disclosure from companies             whose computer systems have been hacked. Clayton said he couldn't speak on the Equifax matter specifically. The company's           CEO, Richard Smith, retired Tuesday. Securities and Exchange Commission Chairman Jay Clayton called Tuesday for better disclosure from companies whose computer systems...

German far-right party official hails ‘political earthquake’ in entering parliament

The German parliament will see changes in tone and legislative issues as the Christian Democratic Union faces tough coalition choices after a far-right party won a surprisingly large percentage of the overall vote, according to George Pazderski, leader of the far-right Alternative for Germany (AfD) party's Berlin unit. "I think it's a political earthquake for Germany. For the first time after 70 years,...

Japan PM Abe announces $17.8 billion economic stimulus package

Japanese Prime Minister Shinzo Abe on Monday ordered his cabinet to compile new economic stimulus measures in a package worth around 2 trillion yen ($17.80 billion) by the end of the year. Speaking at a meeting with his top advisory panel, Abe said the package should focus on subsidising education, child-care costs, and on boosting corporate investments to improve productivity. Abe is expected to announce...

Vanguard Is Growing Faster Than Everybody Else Combined

MALVERN, Pa. — The Vanguard trading floor is the epicenter of one of the great financial revolutions of modern times, yet it is a surprisingly relaxed place. A few men and women gaze at Bloomberg terminals. There is a muted television or two and a view of verdant suburban Philadelphia. No one is barking orders to buy or sell stock....

Despite positive earnings, bank stocks turn negative

Although J.P. Morgan Chase and Citigroup posted earnings well above expectations on Thursday, the two bank stocks joined Wells Fargo on its 2 percent slide lower following an earnings disappointment. J.P. Morgan closed over 1 percent lower, while Wells Fargo closed over 3 percent lower. Shares of Citigroup were down almost 1 percent at Thursday's close. Barclays managing director and senior...

Jamie Dimon teases analysts with joke about taking a Trump post on conference call

JPMorgan Chase's strong first-quarter numbers put CEO Jamie Dimonin a good mood on Thursday. But the air almost went out of the room on the bank's earnings conference call when the CEO, whose overseen a double in JPMorgan's stock price over the last five years, joked about joining the Trump administration. When asked by Wells Fargo analyst Matthew Burnell during...

Trump administration narrows list for Fed regulatory post

A former U.S. Treasury official in the George W. Bush administration, a veteran banking lawyer, and a Harvard professor are three leading candidates as the Trump administration looks to fill the post of Federal Reserve vice chair in charge of banking oversight, people familiar with the matter said. Treasury Secretary Steven Mnuchin told The Wall Street Journal on Wednesday that...

A new asset class is gaining ground as investors turn socially and environmentally conscious

In one of its latest efforts to raise funds, Singaporean real estate developer City Developments Limited issued a green bond — a fixed income product with proceeds used to finance projects or activities that help the environment. "Green financing offers us an alternative financing stream. There is an increased interest in socially responsible investments and a growing demand for relevant...

Time to sell Wells Fargo stock (again), banking analyst Dick Bove says

Wells Fargo's recent report regarding its fake account scandal did little to assuage investors nervous over what the long-term ramifications might be. Shares of the third-largest U.S. bank by assets are down more than 2 percent this week as part of a broader sell-off in financials. However, there are specific issues with Wells that could cause even more obstacles. That's why...