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Wells Fargo reaches $3bn fake accounts settlement

Wells Fargo reaches $3bn fake accounts settlement

Business
Wells Fargo, a major US bank, has agreed to pay $ 3bn (£2.3bn) to resolve a government investigation into its sales practices, including opening fake customer accounts.The bank admitted it had wrongly collected millions of dollars in fees, misused customer information and harmed the credit rating of customers.The settlement comes about four years after the scandal first erupted.It has already forced out two chief executives and led to hefty fines.Since 2018, Wells Fargo has been operating under an order from the US Federal Reserve that limits its growth. John Stumpf: Ex-Wells Fargo boss pays $ 17.5m to settle charges Wells Fargo hit by record $ 1bn penalty Charlie Scharf, who became chief executive in October, said the settlement was a "significant step i
Sudanese gov’t reaches settlement deal with USS Cole victims

Sudanese gov’t reaches settlement deal with USS Cole victims

World
Sudan's transitional government says it's reached a settlement with families of the victims of the 2000 attack on USS Cole in Yemen, in a bid to have the African country taken off the U.S. terrorism listBy NOHA ELHENNAWY Associated PressFebruary 13, 2020, 10:12 AM4 min readCAIRO -- Sudan's transitional government said Thursday it has reached a settlement with families of the victims of the 2000 attack on USS Cole in Yemen, in a bid to have the African country taken off the U.S. terrorism list and improve relations with the West. At the time of the Oct. 12, 2000 attack in the Yemeni port of Aden that killed 17 sailors and wounded more than three dozen others, Sudan was accused of providing support to al-Qaida, which claimed responsibility for the attack. Today, Sudan's interim authorities...
Amazon surge as sales beat targets and Prime membership reaches 150 million

Amazon surge as sales beat targets and Prime membership reaches 150 million

Business
Amazon shares have surged higher after it reported much better than expected sales over the Christmas period and saw the number of Prime subscription members rise to 150 million.The 13% shares rise in after-hours trading meant the online retail giant's market value soared over $ 1tr (£750bn). Sales for the three months to the end of December climbed to $ 87.4bn (£65.7bn), up 21% on the same period last year.That included sales in North America alone that were $ 10bn higher than over the 2018 festive period.For 2019 as a whole, sales were ahead by 20% at $ 280.5bn (£210.8bn), with profits 15% higher at $ 11.6bn (£8.7bn) - the latter despite the company's heavy spending on speedier deliveries. Advertisement A
Victor Vescovo: Adventurer reaches deepest ocean locations

Victor Vescovo: Adventurer reaches deepest ocean locations

Science
Media playback is unsupported on your device US adventurer Victor Vescovo has become the first person to visit the deepest points in every ocean.His fifth and final dive in a prototype submersible was made to the bottom of the Arctic's Molloy Trench, some 5.5km (3.4 miles) below the sea surface.This followed dives during the past 10 months to the floor of the Pacific, Indian, Southern and Atlantic oceans.The millionaire financier's team also visited the wreck of the Titanic. All Mr Vescovo's dives were made using the 12-tonne Deep Sea Vehicle (DSV) Limiting Factor, launched and recovered from a dedicated support ship, the DSSV Pressure Drop, ironically a one-time navy submarine hunter. Deepest-ever sub dive finds plastic waste Robot duo wins o...