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Regulators have identified lapses in Wells Fargo’s anti-money laundering and financial crimes risk management practices, the latest compliance issue for the US bank.  The Office of the Comptroller of the Currency, one of the main US banking regulators, said on Thursday that Wells, the country’s fourth-largest lender by assets, had agreed to take remedial steps.
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The Nasdaq Composite notched its best one-day rise in a month after heavyweight tech stocks climbed, recovering from a morning sell-off. The tech-heavy index rose 2.2 per cent on Wednesday, with gains accelerating in the late afternoon. Nvidia jumped 8 per cent, leading an advance for the rest of its Magnificent Seven peers. The Nasdaq
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Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. With today’s data showing the US inflation rate slowing to 2.5 per cent, conditions in America’s labour market remain all-important for the 25 vs 50 basis point rate cut debate facing the Federal Reserve next
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Stay informed with free updates Simply sign up to the EU economy myFT Digest — delivered directly to your inbox. Mario Draghi has demanded a “new industrial strategy for Europe”, calling on the EU to raise investments by €800bn a year to fund radical and rapid reform to stop the union falling behind the US
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€69 per month Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set alerts with myFT
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€69 per month Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set alerts with myFT
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€69 per month Complete digital access to quality FT journalism with expert analysis from industry leaders. Pay a year upfront and save 20%. What’s included Global news & analysis Expert opinion FT App on Android & iOS FT Edit app FirstFT: the day’s biggest stories 20+ curated newsletters Follow topics & set alerts with myFT
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