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The De Soto Edge

The De Soto Edge News Online
Business News
Standard Chartered

The Justice Department is investigating Standard Chartered PLC over allegations that an Indonesian power company controlled by the London-based bank paid bribes to win contracts. An internal audit at Maxpower Group Pte. Ltd., a power-plant...

By James Richards on Sep 28th, 2016
Wells Fargo

Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company’s board investigates the bank’s sales practices. Carrie...

By Oliver Ingram on Sep 28th, 2016

Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration (NCUA) said. The resolution comes as RBS...

By Carl Holmes on Sep 28th, 2016
Nike Store

Nike Inc’s future orders missed analysts’ estimates for the third time in a row, as the world’s largest footwear maker struggles with increasing competition from Under Armour Inc and a resurgent Adidas in North America. Shares...

By Claire Hirschman on Sep 28th, 2016
AB InBev

SABMiller shareholders backed the brewer’s $100-billion-plus takeover by rival Anheuser-Busch InBev by a large majority on Wednesday, paving the way for one of the biggest corporate mergers in history. The 79 billion pound deal was comfortably...

By Andrew Kirk on Sep 28th, 2016

Drug giant Pfizer says it won’t split into two publicly traded companies, despite pressure from investors frustrated by its lagging stock price, ending years of Wall Street speculation over its strategy and future. The biggest US-based drug...

By Amber Medina on Sep 27th, 2016
John Stumpf

Wells Fargo CEO John Stumpf has been estimated to gain $123.6 million in severance and stock valuations if the executive retires from the bank which has faced an investigation after millions of bank accounts were fraudulently opened for unknowing...

By Oliver Ingram on Sep 27th, 2016
Deutsche Bank

Deutsche Bank saw its shares drop to a new low on Monday after a report stated that the struggling German lender would be unlikely to receive any state-aid. A weekly news magazine known as Focus in Germany reported on Friday that the countrys...

By Claire Hirschman on Sep 27th, 2016

Apple is coming big to Japan as it sets to launch the iPhone 7, iPhone 7 Plus and the Apple Watch Series 2. Each gadget comes completely equipped with the Apple Pay app. The Apple service has partnered with Suica from JR East. It is a non...

By James Richards on Sep 10th, 2016