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Business News Headlines - Yahoo! News



Get the latest Business news headlines from Yahoo! News. Find breaking business news, including analysis and opinion on top business stories.



Published: Tue, 27 Sep 2016 22:28:09 -0400

Copyright: Copyright (c) 2016 Yahoo! Inc. All rights reserved
 



Wells Fargo CEO forfeits millions as board orders review

Tue, 27 Sep 2016 22:28:09 -0400

(image) (Reuters) - 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 Tolstedt, the former head of the retail division at the center of a burgeoning sales scandal, has left the company ahead of her planned Dec. 31 retirement date, will get no severance and has forfeited unvested equity awards worth about $19 million, the bank said. Stumpf and Tolstedt will also not receive bonuses for 2016.



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Asia stocks edge down on Europe bank woes, lower oil

Wed, 28 Sep 2016 01:27:50 -0400

(image) Asian stocks were lower on Wednesday, with European banking sector concerns and lower crude oil prices dulling investors' appetite for riskier assets. Equities in Asia had gained on Tuesday from a perceived win by Democrat Hillary Clinton at the first presidential debate over Republican Donald Trump, who is seen as creating greater uncertainty for the U.S. and global economies. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.2 percent, erasing earlier modest gains.



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OPEC set for no deal as Iran rejects Saudi oil output offer

Tue, 27 Sep 2016 14:08:40 -0400

(image) Iran rejected on Tuesday an offer from Saudi Arabia to limit its oil output in exchange for Riyadh cutting supply, dashing market hopes the two major OPEC producers would find a compromise this week to help ease a global glut of crude. "The gap (in views) between OPEC countries is narrowing. Oil prices have more than halved from 2014 levels due to oversupply, prompting OPEC producers and rival Russia to seek a market rebalancing that would boost revenues from oil exports and help their crippled budgets.



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South Korea to widen Takata air bag recall by 110,000 vehicles

Wed, 28 Sep 2016 02:45:05 -0400

(image) South Korea said on Wednesday that 13 automakers will recall some 110,000 vehicles equipped with Takata Corp's defective air bags, the latest development in a long-running safety crisis involving the Japanese company. The United States in May announced a new round of recall of Takata's air bag inflators which have been linked to at least 14 deaths and more than 100 injuries and triggered the largest-ever auto recall. South Korea's transport ministry said a total of 221,870 vehicles made by 17 automakers have faulty Takata air bags.



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Zuckerberg initiative poaches AstraZeneca board member

Wed, 28 Sep 2016 03:23:49 -0400

(image) The $3 billion health initiative set up by Facebook co-founder Mark Zuckerberg and his wife Priscilla Chan has hired one of AstraZeneca's non-executive directors to head up its science drive. The British drugmaker said on Wednesday that Cornelia Bargmann would step down from its board next month to take up a new role as president of Chan Zuckerberg Science, part of the Chan Zuckerberg Initiative. Leif Johansson, AstraZeneca's chairman, said the board was sorry to see her leave but understood Bargmann's decision to focus on the new assignment.



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South Korea court says it has not yet decided whether sale of Hanjin Shipping is needed

Tue, 27 Sep 2016 23:41:45 -0400

(image) The South Korean court overseeing Hanjin Shipping's receivership process said on Wednesday that a sale of the world's seventh-largest container carrier, which collapsed late last month, is one of many options it is considering if the court concludes the company is to be rehabilitated. Judge Choi Ung-young, who serves as a court spokesman for media inquiries on the case, said a sale is possible in principle if it's deemed the best way to rehabilitate the company, but the court has yet to reach a decision. The spokesman's comment came after Bloomberg reported earlier on Wednesday that the court has decided a sale of Hanjin Shipping is needed.



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After promising start, Rolls-Royce boss East must deliver

Wed, 28 Sep 2016 02:04:29 -0400

(image) By Sarah Young and Sinead Cruise LONDON (Reuters) - Rolls-Royce boss Warren East has rebuilt confidence in the British engine-maker, but there are doubts among investors and industry experts about whether his slimmed-down group has the muscle to meet ambitious production and development goals. It must also replace the blades across hundreds of engines used in Dreamliners after some cracked, while designing two new jet engines, the Advance and UltraFan.



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Oil climbs after industry data shows U.S. inventory draw

Wed, 28 Sep 2016 01:14:02 -0400

(image) By Keith Wallis SINGAPORE (Reuters) - Oil prices rose in mixed trading on Wednesday, after sharp losses in the previous session, as industry data showed a surprise draw in U.S. crude stocks, although worries over a lack of agreement among producers to curb output kept a lid on gains. Brent crude rose 24 cents to $46.21 a barrel as of 0502 GMT after settling down $1.38, or 2.9 percent. U.S. West Texas Intermediate (WTI) crude was up 11 cents at $44.79 a barrel after climbing as high as $45.09 in earlier trading.



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Exclusive: Uber to move freight, target trucking for the long haul

Wed, 28 Sep 2016 01:04:10 -0400

(image) By Julia Love and Heather Somerville SAN FRANCISCO (Reuters) - With its recent acquisition of self-driving truck startup Otto, Uber Technologies Inc.[UBER.UL]is plotting its entry into the long-haul trucking business, aiming to establish itself as a freight hauler and a technology partner for the industry. Otto plans to expand its fleet of trucks from six to about 15 and is forging partnerships with independent truckers, Otto co-founder Lior Ron told Reuters in an interview. Starting next year, Otto-branded trucks and others equipped with Otto technology will begin hauling freight bound for warehouses and stores, he said.



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Caesars strikes deal to end main unit's costly bankruptcy

Tue, 27 Sep 2016 16:47:38 -0400

(image) Caesars Entertainment Corp said on Tuesday it has struck a crucial $5 billion deal with most of its casino operating unit's creditors, resolving billions of dollars in legal claims and paving the subsidiary's way out of a costly bankruptcy. Junior creditors led by hedge fund Appaloosa Management accused the Caesars parent and its private equity owners Apollo Global Management and TPG Capital Management [TPG.UL] of looting the operating unit of its best assets and leaving it bankrupt. Apollo and TPG, which formed Caesars in 2008 through a $30 billion leveraged buyout of Harrah's just before a U.S. economic downturn, will relinquish their stake in Caesars as part of the agreement.



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WHY IT MATTERS: Social Security

Tue, 23 Oct 2012 12:51:48 -0400

The issue:



Google could soon bring free Wi-Fi to your bus

Tue, 27 Sep 2016 23:55:26 -0400

(image) The company originally helped connect Indian train stations with free Wi-Fi, and now wants to bring that service to the world.



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Hit the road, headphone jack. USB wants your job

Tue, 27 Sep 2016 22:53:14 -0400

(image) A trade group is done creating a technology to let ordinary USB ports take over from the 3.5mm audio jack on laptops and PCs.



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Airbnb rentals 'dangerously' crowded, senators say

Tue, 27 Sep 2016 21:48:41 -0400

(image) New York state senators release a report describing illegal "rentals of doom" that feature air mattresses crowded into kitchens and beds stuffed into laundry rooms.



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Teen suspended for taking picture of school's dirty water

Tue, 27 Sep 2016 20:11:15 -0400

(image) A Michigan teen is told she's sanctioned for inappropriate use of an electronic device. She posted a picture of bathroom water that was urine-colored to Twitter.



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Trump-Clinton debate sets records online and on TV

Tue, 27 Sep 2016 19:50:23 -0400

(image) An estimated 84 million people watched the presidential debate on television, says Nielsen. Millions more joined the fray online.



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Take a selfie as a form of political protest? Yes you can

Tue, 27 Sep 2016 19:43:11 -0400

(image) Mozilla is helping EU citizens protest an old copyright law that prohibits selfies, panoramas and memes in front of certain landmarks.



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Let's fill a toilet with 240 pounds of mercury and then flush it

Tue, 27 Sep 2016 19:18:08 -0400

(image) A YouTube channel dedicated to unusual science experiments takes a bathroom break with a special toilet system and a whole lot of liquid mercury.



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Samsung brings gifts to mark Samsung Pay's first birthday

Tue, 27 Sep 2016 19:14:50 -0400

(image) Mobile-payments service adds support for coupons, memberships and gift cards. The company is also giving away 365 Gear S2 smartwatches.



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Facebook: Really, nobody used that inflated metric, anyway

Tue, 27 Sep 2016 18:58:20 -0400

(image) Facebook executives said that "universally" no marketers were using a video-viewing measurement that the company inflated for two years.



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Anti-Defamation League adds 'Pepe the Frog' meme to hate list

Tue, 27 Sep 2016 18:40:08 -0400

(image) Formerly known as the "Sad Frog" meme, the symbol has shown up on social media wearing a Hitler-like mustache, a yarmulke or a Klan hood.



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Elon Musk unveils epic SpaceX plan to colonize Mars

Tue, 27 Sep 2016 17:56:31 -0400

(image) The SpaceX CEO says in case of a doomsday event, we need to be prepared to go to Mars. Why Mars? It's better than the "hot acid bath" of Venus, he says.



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CraveCast can't wait to crew a Mars mission with Elon Musk

Tue, 27 Sep 2016 16:53:05 -0400

(image) The SpaceX CEO has announced his plan to make humans a multi-planetary species. Who will be the first to volunteer among us? The crew discusses our Martian future. Join us at 3 p.m. PT today.



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Yes, someone's made a Donald Trump sniff movie

Tue, 27 Sep 2016 16:31:33 -0400

(image) Technically Incorrect: After the Republican nominee appears to sniff his way through Monday's debate, a YouTuber dramatizes his nasal sound effects.



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Microsoft tries to show that the NFL is now happy with Surface

Tue, 27 Sep 2016 15:55:36 -0400

(image) Technically Incorrect: The relationship between the league and the tablet has had its issues. But a new ad seems to say it's all good.



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Help wanted: How automation can help with the security skills gap

Tue, 27 Sep 2016 15:29:35 -0400

(image) Many tech jobs are going unfilled, and that number is growing in security. Jay Leek, the CISO of Blackstone, explained how CISOs can prepare for the lack of talent in the future.



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