Business

Senate Banking Committee in Outrage Over Wells Fargo ‘Fraud’

WASHINGTON—The senators on the Senate Banking Committee in bipartisan unity denounced the sales culture at Wells Fargo Bank, and, in general, the breach of trust...


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    Yahoo Hack Steals Personal Info From at Least 500M Accounts

    SAN FRANCISCO—Computer hackers swiped personal information from at least 500 million Yahoo accounts in what is believed to be the biggest digital break-in at an... Read more

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    Fed Plays It Safe Ahead of November Election

    News Analysis No, politics had nothing to do with the Fed’s decision to skip raising interest rates at a meeting that concluded on Sept. 21... Read more

  • A branch of the Wells Fargo bank in Midtown Manhattan on Sept. 20, 2016. (Benjamin Chasteen/Epoch Times)

    At Wells Fargo, Workers Say, Sales Focus Was All-Consuming

    NEW YORK—It began with the constant and compulsive pressure to sell. Then came stress-induced health problems. Wells Fargo employees, both current and former, say they... Read more

  • FILE - This Monday, Aug. 24, 2015, file photo shows the New York Stock Exchange. U.S. stocks are rising early Thursday, June 23, 2016, as investors grow more optimistic that Britons will vote to stay in the European Union. Investors are buying stocks and selling bonds, sending banks higher. Energy companies are up with the price of oil. (AP Photo/Seth Wenig, File)

    US Stocks Jump After Fed Leaves Interest Rates Unchanged

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  • Elon Musk, CEO of Tesla Motors Inc., introduces the Model X car at the company's headquarters  in Fremont, Calif., Sept. 29, 2015. Tesla faces shareholder lawsuits that may delay its proposed merger with SolarCity. (AP Photo/Marcio Jose Sanchez)

    Shareholders Go After Elon Musk’s SolarCity Bailout Plan

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  • Wells Fargo Chief Executive Officer John Stumpf  prepares to testify on Capitol Hill in Washington before Senate Banking Committee on Sept. 20, 2016.  (AP Photo/Susan Walsh)

    Wells Fargo CEO Apologizes; Senators Heap Criticism on Bank

    WASHINGTON—The CEO of Wells Fargo faced accusations of fraud and calls for his resignation Tuesday from harshly critical senators at a hearing over allegations that... Read more

  • A Wells Fargo sign is displayed at a branch in New York. Wells Fargo is in the spotlight after its employees allegedly created up to 2 million bank and credit card accounts, transferred customers' money without telling them and even created fake email addresses to sign people up for online banking in an effort to meet lofty sales goals. When Wells Fargo CEO John Stumpf testifies before a Senate committee hearing Tuesday, Sept. 20, 2016, it won't be just his bank under fire for turning friendly branches into high-pressure sales centers. It'll be the entire industry. (AP Photo/CX Matiash, File)

    Banks Focus More on New Accounts and the Fees They Bring

    NEW YORK—When Wells Fargo CEO John Stumpf testifies before a Senate committee hearing Tuesday, it won’t be just his bank under fire for turning friendly... Read more

  • The skyline of New York with a few of Central Park and the Hudson River, in this file photo. Reggie Middleton thinks real estate in the U.S. is in another bubble. (William Edwards/AFP/Getty Images)

    The US Real Estate Bubble 2.0

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  • Just like the characters of "The Big Short," its time to pick up the warning signs of a global financial crisis. (Paramount Pictures)

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  • The Marketing Corner: About Ad Blocking and Ad Fraud

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  • The headquarters of Deutsche Bank in Frankfurt, Germany, on June 9, 2015. (AP Photo/Michael Probs)

    Shares of Deutsche Bank Plunge Amid US Legal Dispute

    FRANKFURT, Germany—Shares in Deutsche Bank AG plunged Friday after the revelation that the U.S. Department of Justice has proposed the bank pay $14 billion to... Read more

  • French President Francois Hollande (L) and German Chancellor Angela Merkel deliver a joint statement after the European Union Summit of 27 Heads of State or Government in Bratislava, Slovakia, on Sept. 16, 2016. (Stephane de Sakutin/AFP/Getty Images)

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  • A Wells Fargo branch in Philadelphia on Dec. 19, 2012. (AP Photo/Matt Rourke)

    Wells Fargo Gives Outgoing Exec $124 Million—Despite Fraud Scheme

    Banking giant Wells Fargo recently fired 5,300 employees, almost 2 percent of its workforce, for a massive fraud scheme. Yet the executive under whose watch... Read more

  • Two men stand outside the newly-built Marriott Marquis hotel in Washington on Oct. 14, 2015. (AP Photo/Andrew Harnik)

    Marriott Buys Starwood, Becoming World’s Largest Hotel Chain

    NEW YORK—Several of the best-known names in travel are now united in one hotel company. Marriott International closed Friday morning on its $13 billion acquisition... Read more

  • People walk in front of a Yahoo sign at the company's headquarters in Sunnyvale, CA., in this file photo. (AP Photo/Marcio Jose Sanchez)

    Yahoo Hack Steals Personal Info From at Least 500M Accounts

    SAN FRANCISCO—Computer hackers swiped personal information from at least 500 million Yahoo accounts in what is believed to be the biggest digital break-in at an... Read more

  • A branch of the Wells Fargo bank in Midtown Manhattan on Sept. 20, 2016. (Benjamin Chasteen/Epoch Times)

    At Wells Fargo, Workers Say, Sales Focus Was All-Consuming

    NEW YORK—It began with the constant and compulsive pressure to sell. Then came stress-induced health problems. Wells Fargo employees, both current and former, say they... Read more

  • Elon Musk, CEO of Tesla Motors Inc., introduces the Model X car at the company's headquarters  in Fremont, Calif., Sept. 29, 2015. Tesla faces shareholder lawsuits that may delay its proposed merger with SolarCity. (AP Photo/Marcio Jose Sanchez)

    Shareholders Go After Elon Musk’s SolarCity Bailout Plan

    Tesla shareholders are suing the company because of its proposed merger with SolarCity, thus creating a challenge for Elon Musk to save the troubled solar energy company... Read more

  • Wells Fargo Chief Executive Officer John Stumpf  prepares to testify on Capitol Hill in Washington before Senate Banking Committee on Sept. 20, 2016.  (AP Photo/Susan Walsh)

    Wells Fargo CEO Apologizes; Senators Heap Criticism on Bank

    WASHINGTON—The CEO of Wells Fargo faced accusations of fraud and calls for his resignation Tuesday from harshly critical senators at a hearing over allegations that... Read more

  • A Wells Fargo sign is displayed at a branch in New York. Wells Fargo is in the spotlight after its employees allegedly created up to 2 million bank and credit card accounts, transferred customers' money without telling them and even created fake email addresses to sign people up for online banking in an effort to meet lofty sales goals. When Wells Fargo CEO John Stumpf testifies before a Senate committee hearing Tuesday, Sept. 20, 2016, it won't be just his bank under fire for turning friendly branches into high-pressure sales centers. It'll be the entire industry. (AP Photo/CX Matiash, File)

    Banks Focus More on New Accounts and the Fees They Bring

    NEW YORK—When Wells Fargo CEO John Stumpf testifies before a Senate committee hearing Tuesday, it won’t be just his bank under fire for turning friendly... Read more

  • The headquarters of Deutsche Bank in Frankfurt, Germany, on June 9, 2015. (AP Photo/Michael Probs)

    Shares of Deutsche Bank Plunge Amid US Legal Dispute

    FRANKFURT, Germany—Shares in Deutsche Bank AG plunged Friday after the revelation that the U.S. Department of Justice has proposed the bank pay $14 billion to... Read more

  • A Wells Fargo branch in Philadelphia on Dec. 19, 2012. (AP Photo/Matt Rourke)

    Wells Fargo Gives Outgoing Exec $124 Million—Despite Fraud Scheme

    Banking giant Wells Fargo recently fired 5,300 employees, almost 2 percent of its workforce, for a massive fraud scheme. Yet the executive under whose watch... Read more

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  • FILE - In this Monday, Jan. 11, 2016, file photo, the Chevrolet Bolt EV debuts at the North American International Auto Show in Detroit. The Chevrolet Bolt, General Motors’ Tesla-fighting electric hatchback for the masses, will be able to go 238 miles on a single charge.
The car beats the base rear-wheel-drive Tesla Model S, which can go 210 miles per charge but costs about $28,500 more. (AP Photo/Paul Sancya, File)

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  • Just like the characters of "The Big Short," its time to pick up the warning signs of a global financial crisis. (Paramount Pictures)

    Shadow Banking Increases the Risk of Another Global Financial Crisis

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  • Just like the characters of "The Big Short," its time to pick up the warning signs of a global financial crisis. (Paramount Pictures)

    Shadow Banking Increases the Risk of Another Global Financial Crisis

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  • Rio de Janeiro Mayor Eduardo Paes, IOC President Thomas Bach and Tokyo Governor Yuriko Koike take part in the Flag Handover Ceremony during the Closing Ceremony on Day 16 of the Rio 2016 Olympic Games at Maracana Stadium in Rio de Janeiro, Brazil, on Aug. 21, 2016. (Cameron Spencer/Getty Images)

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  • NEW YORK - NOVEMBER 17: A pedestrian walks outside the entrance to the new Museum of Modern Art building on 53rd Street November 17, 2004 in New York City. The new Yoshio Taniguchi-designed building opens to the public November 20. (Photo by Chris Hondros/Getty Images)

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  • FILE - This Sept. 9, 2015, file photo shows the new Apple TV during a product display following an Apple event in San Francisco. (AP Photo/Eric Risberg, File)

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    The Classic Battle: London Versus New York

    It’s a battle that’s raged for years – which city reigns supreme? London and New York seemingly have it all … and in good measure... Read more

  • LONDON, ENGLAND - AUGUST 08:  A Gold Ferrari Drives through Knightsbridge on August 8, 2014 in London, England. Tourists and car enthusiasts have been flocking to the wealthy London district to see some of the world's most expensive and extravagant super cars. Many of the rich owners from Saudi Arabia and Kuwait come to London to escape the summer heat at home and to show off their cars before moving on to other European cities such as Paris and Cannes.  (Photo by Dan Kitwood/Getty Images)

    Excesses of Global Super-Rich Elbowing Out London’s Aristocracy

    LONDON—Where rattling horse-drawn carriages once ferried dukes and earls home on summer nights, now squealing golden Ferraris catapult their flashy owners past crowds of tourists wielding... Read more

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    Australian Couple Raffling Tropical Island Resort for $36 a Ticket

    An Australian couple is raffling their tropical island resort and scuba diving business, after living there for more than two decades. One lucky winner will... Read more

  • The 23-storey Imperial Plaza built by Camrost-Felcorp. (Courtesy Camrost-Felcorp)

    Imperial Village Community: Creating a Vibrant and Quality Lifestyle

    It’s easy to see that the master-planned Imperial Village community will indeed be fit for royalty—or anybody else wishing to embrace a vibrant and enriching... Read more

  • The Pride of Canada Carousel that's destined to become the focal point and jewel of Downtown Markham, Ontario. (Courtesy Remington Group)

    Life Is a Carnival

    Just ask the scores of smiling people who’ve already taken a spin on the new Pride of Canada Carousel that’s destined to become the focal... Read more

  • The One World Trade Center towers over the other buildings of the Manhattan skyline viewed from the New York Harbor during sunset on Feb. 10, 2015. (Benjamin Chasteen/Epoch Times)

    Can New York Benefit From Brexit?

    After Brexit, London may no longer be a popular city for Chinese and Middle Eastern billionaires who seek to park their wealth in penthouses. Especially in... Read more

  • Rendering of a Caliber home. (Courtesy of Caliber Homes)

    Kleinburg Crown Estates: A Collection of Elegant, Executive Homes

    In this white hot market with sellers demanding a king’s ransom for even the most nondescript house, it’s good to know a marquee project like... Read more

  • Rendering of Museum Flats, a condominium project underway in the GTA. (Courtesy Castlepoint Numa Inc.)

    Museum Flats Condos: GTA City Living With an Active Family Lifestyle

    Toronto’s Junction Triangle is in the middle of dramatic, sweeping changes and the new Museum Flats condominium project is leading the way. Imagine a village... Read more

  • Aleksandra Scepanovic, founder and managing director of Ideals Properties Group, at her office in Williamsburg, Brooklyn, on June 9, 2016. (Benjamin Chasteen/Epoch Times)

    How a Serbian War Journalist Became a Successful Entrepreneur in New York

    NEW YORK—What are the most inspiring success stories? Maybe entrepreneurs who had humble beginnings or quirky jobs inspire us the most. Serbian entrepreneur Aleksandra Scepanovic... Read more

  • Rendering of The Kennedy Condos, a multi-towered project in Toronto. (Courtesy of Kennedy Condos)

    The Kennedy Condos: A Multi-Towered Project With Urban Luxury

    With one discriminating gaze around the elegant sales pavilion of the city’s latest building venture, The Kennedys Condos, it’s confirmed the multi-tower project will be... Read more

  • A luxury 90-floor apartment skyscraper called "One57," left, rises above all other buildings overlooking Central Park, while a crane sits atop ongoing construction for a new condominium skyscraper at 220 Central Park South, Thursday May 26, 2016, in New York. A penthouse in One57 went for $100.5 million in 2014, but an apartment in the new condominium is expected to sell for $250 million. (AP Photo/Bebeto Matthews)

    Sky High: NYC ‘Trophy Apartment’ Could List for $250 Million

    NEW YORK—Billionaires’ Row. That’s what New York real estate experts have dubbed a lineup of a half-dozen new superluxury skyscrapers overlooking Central Park that are... Read more

  • A luxury 90-floor apartment skyscraper called "One57," left, rises above all other buildings overlooking Central Park, while a crane sits atop ongoing construction for a new condominium skyscraper at 220 Central Park South, Thursday May 26, 2016, in New York. A penthouse in One57 went for $100.5 million in 2014, but an apartment in the new condominium is expected to sell for $250 million. (AP Photo/Bebeto Matthews)

    New York Apartment for Sale: $250 Million

    It’s common knowledge that a window view of New York’s Central Park saps a hefty premium from your account. Still, one development company recently redefined what... Read more

  • Rendering of CentreCourt Condos. (Courtesy CentreCourt Developments)

    CentreCourt Can’t Get Enough of Downtown East

    CentreCourt Developments is gearing up to launch its next project, a high-rise condo at 411 Church St., a block north of Carlton Street and across... Read more

  • Rendering of Graywood Developments latest condo project Scoop. (Courtesy of Graywood Developments)

    Scoop Will Bring New Vitality to St. Clair West

    Graywood Developments knows St. Clair Avenue West well, having several years back built a stacked townhouse community on St. Clair at Weston Road. So when... Read more

  • Brad J. Lamb, president of Brad J. Lamb Realty & Lamb Development Corp. (Courtesy of Lamb Development Corp.)

    Lamb: Toronto Market ‘The Best It’s Ever Been’

    Brad J. Lamb found inspiration for his latest Toronto condo project, James—a slender 18-storey tower proposed for Richmond Street just west of Spadina Avenue—during a... Read more

  • Facebook CEO Mark Zuckerberg speaks during the keynote address at the F8 Facebook Developer Conference in San Francisco. (AP Photo/Eric Risberg, File)

    Zuckerberg to Bulldoze Homes Worth $30 Million Around His House for ‘Privacy’ Reasons

    In 2013, Mark Zuckerberg purchased the four homes surrounding his own in Palo Alto, worth $30 million in total, for privacy purposes.  New city planning papers... Read more

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