Wells Fargo Fires Managers in Connection with Scandal

Last fall, Wells Fargo was fined $185 million after regulators found the bank guilty of opening as many as 2 million retail bank accounts without customers’ approval. Over 5,000 employees tied to the scandal were fired. In a recent addition to this total, the head of the bank’s consumer credit-card business and three other senior […]
  • Anahit Moumjian
  • March 1, 2017
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New Data Estimates Student Debt Total Over $1.3 Trillion

A quarterly report on household debt and credit by the Federal Reserve Bank of New York revealed that student loan debt now totals over $1.3 trillion as of December 2016. The report, released in February of 2017, notes the $31 billion increase in outstanding student loan balances. MarketWatch’s live tracker shows student debt increasing by […]
  • Anahit Moumjian
  • February 26, 2017
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Casino Resort in Japan Could Cost up to $10 Billion

Los Vegas Sands Corps CEO and Chairman Sheldon Adelson announce on Friday that a casino resort project in Japan could cost up to $10 billion to build. “It would be at least what we paid in Singapore, U.S. $6 billion including the land, but it could be as much as U.S. $10 billion,” said Mr. […]
  • Anahit Moumjian
  • February 24, 2017
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Alibaba Partners with China’s Largest Supermarket And Department Stores

Alibaba Group Holding has teamed up with Shanghai Bailian Group in executive chairman Jack Ma’s latest step toward shaking up old-fashioned retail with technology. Bailian is currently one of China’s largest supermarket and department store chains. Shares of the company surged to their daily 10% limit on Monday after the China Securities Journal reported on […]
  • Anahit Moumjian
  • February 22, 2017
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New Study Shows Los Angeles Has the Worst Traffic in the World

According to a new report, congestion caused by cheap gas and a surging economy has cost U.S. motorists almost $300 billion last year. Out of the 1,064 cities studied by transportation analytics firm INRIX, Los Angeles had the worst traffic in the world. The average driver in Los Angeles wasted 104 hours sitting in gridlock […]
  • Anahit Moumjian
  • February 22, 2017
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Ivanka Trump’s Perfume is an Amazon Bestseller

Ivanka Trump’s perfume jumped to the top Amazon’s bestseller list in the “Perfumes & Fragrances” category last week, weeks after Nordstrom announced it was dropping Ivanka Trump-branded items from its store. The Ivanka Trump Eau de Parfum spray also received a vast number of reviews on its product page. Some comments remained apolitical, while other reviewers mentioned […]
  • Anahit Moumjian
  • February 21, 2017
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Ford To Move Forward With Mexico Expansion

Ford confirmed last week that two manufacturing plants in Mexico will see expansion, despite President Trump’s insistence on keeping manufacturing jobs in the U.S. Mark Fields, CEO of Ford, along with other manufacturing and auto CEOs met with Trump in his early days in office to discuss strategies to bring back American jobs. Trump took to […]
  • Anahit Moumjian
  • February 21, 2017
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Spotify-Backed Music Startup Raised $22 Million For Expansion

Stockholm-based startup Soundtrack Your Brand has raised $22 million in funding for global expansion and tech build-up. The company, started by an ex-Spotify executive and a co-founder of Beats, has already seen significant growth on its aim to provide music streaming services to businesses. The company’s client list includes McDonald’s, TAG Heuer, and Toni & […]
  • Anahit Moumjian
  • February 19, 2017
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Fannie Mae To Pay Treasury $5.5 Billion Dividend

Fannie Mae announced on Friday that it will pay the U.S Treasury $5.5 billion in dividends next month due to its double in profits last quarter.  The company reported a net income of $5.05 billion in the fourth quarter, up from $2.5 billion in the year previous. Since receiving $116.1 billion in government bailouts between […]
  • Anahit Moumjian
  • February 18, 2017
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