Stumpf’s Pay Cut Eclipsed by Fury as Yellen, California Join In – Bloomberg

Wells Fargo & Co. Chief Executive Officer John Stumpf gave up $41 million to buy a reprieve from the bank’s widening scandal. Then it got worse. The company was battered anew by regulators and politicians throughout Wednesday, less than 24 hours after Stumpf agreed to forgo years of stock awards to quell public uproar over […]

In U-Turn, Saudis Choose Higher Prices Over Free Oil Markets – Bloomberg

In U-Turn, Saudis Choose Higher Prices Over Free Oil Markets – Bloomberg

It took the kingdom’s new oil minister, Khalid Al-Falih, just six months to blink, ending the country’s two-year policy of pump-at-will.  The decision at this week’s meeting of the Organization of Petroleum Exporting Countries in Algiers to cut production was necessitated by Saudi Arabia’s tattered finances. The kingdom has the highest budget deficit among the world’s […]