Tuesday, January 24, 2017
By NATHANIEL POPPER
Advocates of a new law that aims to make it easier for businesses to raise capital worry whether investors are getting the information they need.
By JANE PERLEZ AND CHRIS BUCKLEY
As he tosses aside decades of American trade policy, President Trump could also go his own way on other issues with China, including Taiwan and the South China Sea.
|Wells Fargo’s sales-tactics scandal. Bank branches were given a heads up before Wells Fargo’s internal monitors landed for inspections. Managers would call for all hands on deck to stay all night to shred documents or forge signatures, some current and former managers said. – The Wall Street Journal|
|We’re still writing checks. “I honestly didn’t even know you could use a check in a store,” says Erika Lewy, a 21-year-old senior at the University of Vermont whose parents taught her how to write a check before she went off to college. – The Wall Street Journal|
|Sergey Aleynikov’s conviction revived. A New York state appeals court reinstated the criminal conviction of the former Goldman Sachs programmer. – Reuters|
|Israel Englander gets blindsided. The billionaire founder of Millennium Management was caught off guard when his top lieutenant and potential successor abruptly resigned. Can the empire move out of its founder’s shadow? – Bloomberg|
|AIG harassment lawsuit. A former underwriter is suing the insurance giant and her former boss, claiming the executive perpetuated a “boys club” atmosphere — which included male employees hiding under women’s desks to peek up their skirts, and licking female colleagues. – New York Post|
|European lenders’ data may shed light on ‘Brexit’ plans. Investors will again be focused on Europe’s banking sector this week as some of the region’s biggest lenders report their fourth-quarter results, kicking off the earnings season for Europe’s financial sector. UBS, on Friday, and Banco Santander of Spain, on Wednesday, are both expected to update investors on their results.|
|One question likely to be on the minds of analysts and investors is what plans European banks are making for their operations in Britain after Prime Minister Theresa May outlined her vision last week for a clean break from Europe. Such a move could make it more difficult for financial companies to offer services to European clients from London, depending on the outcome of the negotiations.|
|At the World Economic Forum in Davos, Switzerland, last week, the chairman of UBS, Alex Weber, said as many as 1,000 of the bank’s 5,000 employees in London could be affected. HSBC has also said it might move as many as 1,000 employees to Paris. – Chad Bray|