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Wall Street climbs in wake of first presidential face-off

Traders work on the floor of the New York Stock Exchange (NYSE) in New York CityConsumer and technology stocks, including Amazon, led gains on Wall Street on Tuesday, while a perceived win by Democrat Hillary Clinton in Monday's first presidential debate gave broader support to equities. Following the first of three presidential debates on Monday, Republican candidate Donald Trump vowed to hit Clinton harder after she put him on the defensive. "From a market perspective, rightly or wrongly, there is an understanding that Mrs. Clinton would be a safe pair of hands, that there's very little uncertainty there," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Massachusetts.


US STOCKS-Wall Street climbs in wake of first presidential face-off

Consumer and technology stocks, including Amazon, led gains on Wall Street on Tuesday, while a perceived win by Democrat Hillary Clinton in Monday's first presidential debate gave broader support to equities. ...

StanChart tells authorities about corruption allegations at Indonesian firm

Passersby walk in front of the main branch of Standard Chartered in Hong KongBy Lawrence White and Joel Schectman LONDON/WASHINGTON (Reuters) - Standard Chartered has told "appropriate authorities" about alleged corruption at an Indonesian power plant company majority-owned by its private equity arm, the bank said on Tuesday. The statement came in response to an earlier Wall Street Journal report that the U.S. Department of Justice is investigating whether Standard Chartered failed to stop possible bribery and other misconduct at MAXpower Group Pte Ltd, which builds and operates gas-fired power plants in southeast Asia. The allegations compound the legal woes of the bank, which is subject to a deferred-prosecution agreement with the Justice Department over alleged Iranian sanctions breaches and faces possible prosecution if found to have committed another federal crime.


Wall Street reacts to Trump with a shrug despite pro-business bluster

Donald Trump is running for president onthe premise that his business acumenmakes him the best man for the job, but reaction from the business community Tuesday suggests that's far from the consensus view. Ordinarily, pronouncements like that would be music to the ears of a Wall Street audience.

Trump Could Still Win ? and Stocks Aren?t Ready for Him

Trump Could Still Win ? and Stocks Aren?t Ready for HimMonday night?s debate, billed as the biggest presidential debate of the century and maybe the most watched ever, is contributing to a small bump for stocks. ?What we?re seeing in markets this morning is a small, collective sigh of relief because most commentators, and the few polls that have been released, suggest that Clinton won the debate,? says James Athey of Aberdeen Asset Management. For the economy and the stock market, the outcome of the presidential election on Nov. 8 is the next big catalyst.


Wells Fargo may claw back some executive pay: report

The board of directors of Wells Fargo & Co. is reported to be considering clawing back some of the millions of dollars in pay tosome of itstop executives. The Wall Street Journal, citing an unnamed source, reported thatWells Fargo's board could move as soon as Tuesday to get back money from current CEO JohnStumpf andCarrie Tolstedt, the bank's former head of retail banking. Wells Fargo has been under pressure since it emerged in August that the San Francisco, Calif.-based bank hadfired more than 5,000 of its employees over five yearsand been fined a total of $185 million USfor making up millions of unauthorizedbank accounts on their customers' behalf ? often without the customers' knowledge.

Standard Chartered probed by US DoJ for Indonesia 'bribes'

Standard Chartered says it is conducting its own review following the bribery allegationsStandard Chartered acknowledged Tuesday it was being investigated by the US Department of Justice over claims that an Indonesian subsidiary had paid bribes to secure contracts. The Wall Street Journal newspaper said that an internal audit at Indonesian energy company Maxpower Group found evidence of possible bribery and US prosecutors were examining whether Standard Chartered was culpable for not stopping it. The Department of Justice did not comment when contacted by AFP.


Wells Fargo likely to decide on clawback before Thursday: WSJ

A Wells Fargo Bank is shown in Charlotte, North Carolina(Reuters) - Wells Fargo & Co?sboard is likely to decide on whether to claw back pay from former retail-banking head Carrie Tolstedt and Chief Executive John Stumpf ahead of a congressional hearing on Thursday, the Wall Street Journal reported.


 
 
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