(Bloomberg) — Five years into scandals that have already cost Wells Fargo & Co. more than $5 billion in fines and legal settlements, regulators are privately signaling they’re still not satisfied with the bank’s progress in compensating victims and shoring up controls. The Office of the Comptroller of the Currency and the Consumer Financial Protection Bureau have warned the firm they may bring new sanctions over the company’s pace in fulfilling those obligations, according to people… Source link

In an email to employees today, Google CEO Sundar Pichai said that even though “we are welcoming back tens of thousands of Googlers on a voluntary basis,” the company will extend its voluntary return to work policy until at least January 10th, 2022. After that date, the current plan is to have countries and locations make mandatory return to work decisions depending on local conditions. The most recent plan shared publicly would’ve pushed Google employees back to the office at some… Source link

The freshly filed IPO prospectus from Allbirds will test the appetite of investors to own a green-focused retailer, that still has some proving to do on the top and bottom lines.  Allbirds said Tuesday it will view its IPO as a “sustainable public equity offering.” By that, Allbirds will be required to adhere to certain ESG (environmental, social and governance) standards.  They include, according to the filing, “a minimum ESG rating, a stakeholder-centric mission and purpose, best practices… Source link

The Federal Reserve has telegraphed that it will soon take the first steps in paring back its extraordinary monetary stimulus to the economy, but Fed officials are split on exactly when to start that process. For many of the 18 policymakers on the central bank’s Federal Open Market Committee, it could all come down to a single point of data due this week. “A non-committal Fed puts the focus squarely on Friday’s jobs report,” ING Economics wrote Tuesday. The August jobs report, to be… Source link

The weed market opening up in New York will be a massive catalyst for the cannabis industry, according to an industry veteran. “I think New York as a market, [Senate Majority Leader Chuck] Schumer as a representative of New York, is going to be a very, very live topic through September,” Bruce Linton, chairman of Gage Cannabis and former CEO of Canopy Growth (CGC), told Yahoo Finance (video above). “And to me, that is one of the bigger movers. You say to anybody else on the planet, tell… Source link

Sundar Pichai, chief executive officer of Alphabet Inc., wears a protective mask while attending a meeting with U.S. President Joe Biden, not pictured, in the East Room of the White House in Washington, D.C., on Wednesday, Aug. 25, 2021. Stefani Reynolds | Bloomberg | Getty Images Google is postponing its workers’ return to the office, for the third time, as the highly contagious delta variant of the Covid-19 virus spreads. CEO Sundar Pichai announced in a blog post Tuesday that the new date… Source link

Someday soon you may be able to buy groceries from Best Buy (BBY) as it looks to better compete for shoppers online with Amazon and Walmart.  But before then, Best Buy is hoping to sell you an electric bike, an electric mower or some form of beauty product.  The electronics retailer (or one-time electronics only retailer) began selling a range of electric bikes and scooters on its website on Tuesday. USA Today first reported the launch. Offerings range from a $799 Segway electric scooter to… Source link

Google is pushing back its return-to-office date by three months, to Jan. 10, in a decision that reflects the spread of the highly contagious Delta variant of the coronavirus. Sundar Pichai, the chief executive of Alphabet, Google’s parent company, informed employees of the plans in an email on Tuesday. He said that after Jan. 10, offices in different countries and locations will determine for themselves when to return based on local conditions, and that employees will get 30-days notice.

Google is pushing back its return-to-office date by three months, to Jan. 10, in a decision that reflects the spread of the highly contagious Delta variant of the coronavirus. Sundar Pichai, the chief executive of Alphabet, Google’s parent company, informed employees of the plans in an email on Tuesday. He said that after Jan. 10, offices in different countries and locations will determine for themselves when to return based on local conditions, and that employees will get 30 days advance… Source link

The Street is unclear on how to value Zoom as its growth slows with people returning to offices and schools, despite the lingering pandemic.  So the only course of action right now it seems — sell Zoom’s stock (ZM) and wait for more stable waters.  “We are wary of a potential demotion for Zoom from hyper-growth to growth at a reasonable price,” said Citi analyst Tyler Radke, following Zoom’s underwhelming second quarter results Monday evening. Radke called the earnings report… Source link