Top News & Analysis Boston

  • WASHINGTON/ NEW YORK, Sept 29- U.S. lawmakers called on Thursday for Wells Fargo& Co chief John Stumpf to resign and a top House Democrat demanded the bank be broken up because it is too big to manage. Wells Fargo staff opened checking, savings and credit card accounts without customer say-so for years to satisfy managers' demand for new business, according to a $190...

  • WASHINGTON/ NEW YORK, Sept 29- U.S. lawmakers called for Wells Fargo& Co chief John Stumpf to resign on Thursday and a top House Democrat demanded the bank be broken because it is too big to manage. Stumpf's second trip to Capitol Hill on Thursday went no better than his first as lawmakers from both parties angrily rebuked his handling of sales abuses and said the bank...

  • WASHINGTON/ NEW YORK, Sept 29- Wells Fargo& Co chief John Stumpf's second trip to Capitol Hill on Thursday went no better than his first as lawmakers from both parties angrily rebuked him for the handling of sales abuses and said the bank has damaged customer trust as well as the broader banking system. Representative Mick Mulvaney, a South Carolina Republican,...

  • WASHINGTON/ NEW YORK, Sept 29- Wells Fargo& Co Chief Executive Officer John Stumpf on Thursday offered Capitol Hill lawmakers a series of actions to fix widespread sales abuses but remained defensive on issues like consumer lawsuits, the weakness of an internal investigation and his sale of Wells Fargo shares. Jeb Hensarling, the Republican chairman of the...

  • BOSTON— ExxonMobil has polluted the Mystic River while failing to plan for the potentially severe impacts of climate change at its Boston- area fuel storage terminal, according to a lawsuit filed Thursday by an environmental advocacy group. The lawsuit filed in U.S. District Court by Conservation Law Foundation accuses ExxonMobil of discharging toxic...

  • WASHINGTON/ NEW YORK, Sept 29- Wells Fargo& Co Chief Executive Officer John Stumpf returned to Capitol Hill on Thursday offering a package of actions to fix widespread sales abuses that have exploded into a scandal in Washington and on Wall Street. Stumpf, who again faced tough questioning, told House of Representatives lawmakers that Wells Fargo will eliminate...

  • Sept 29- Wells Fargo& Co Chief Executive Officer John Stumpf returns to Capitol Hill on Thursday with his job under threat and the bank facing rising political pressure over a sales scandal that has become a major issue in Washington and on Wall Street. Stumpf will appear before the House Financial Services Committee, his second congressional appearance in...

  • Sept 29- Wells Fargo& Co's Chief Executive John Stumpf returns to Capitol Hill on Thursday with his job still under threat and the bank facing rising political pressure over a sales scandal that has become a major issue in Washington and on Wall Street. California, Wells Fargo's home state, suspended business relationships with the bank for a year on Wednesday...

  • BOSTON— Denmark's Crown Prince Frederik and Crown Princess Mary are kicking off a two-day trade mission to Boston. The couple is expected to attend a business dinner with Boston Mayor Marty Walsh later Thursday and be greeted by Gov. This story has been corrected to remove a reference to Boston Mayor Marty Walsh attending the Boston University event.

  • The company said it had entered into a non-binding agreement with lenders AB Opportunity Fund LLC, AB Value Partners LP and affiliates of Milfam II LP under which these lenders have offered to buy Cosi's assets and serve as a "stalking horse" bidder in a sale process. The company said it had net sales of $22.3 million, with net losses of about $3.1 million and cash on...

  • In court documents, Cosi Inc. said it has between $10 million and $50 million in assets and the same amounts in debt. Last month, the company reported a second-quarter loss of $3.1 million after reporting a loss of $3.8 million in the same period a year before. Cosi said that its lenders AB Opportunity Fund, AB Value Partners and firms connected to Milfam, are...

  • Cosi

    Cosi filed for Chapter 11 bankruptcy protection Wednesday in federal court in Massachusetts. USAToday reports.

  • The Boston- based company, known for its homemade flat bread, has assets of $31.24 million and debt of about $20 million, according to a court filing. The company said it had entered into a non-binding agreement with lenders AB Opportunity Fund LLC, AB Value Partners LP and entities affiliated with Milfam II LP under which the DIP lenders offered to buy Cosi's...

  • *Committed investors see payoff from solid Asia returns. SINGAPORE, Sept 23- Having weathered almost two years of volatility spurred by a fickle Federal Reserve, most long-term investors in Asia's emerging markets barely blinked this week as the Fed once again redrew the future path of U.S. interest rates. "The idea that yields are going to be lower for longer is...

  • "Disclosure is the foundation of federal securities laws, and public companies are required to disclose material events that shareholders should know about," Warner said in a letter to SEC Chairwoman Mary Jo White. Warner also asked the SEC to probe whether Yahoo has "made complete and accurate representations" about the security of its information technology...

  • NEW YORK— In a story Sept. 23 about online reviews, The Associated Press used incorrect style for the name of Yelp, the company that runs an online review website. NEW YORK— It is a double-edged cybersword: a negative review of a restaurant or other business, posted for the world to see. Jeff Gates, who co-owns eight restaurants in the Boston area, says online reviews give...

  • "Disclosure is the foundation of federal securities laws, and public companies are required to disclose material events that shareholders should know about," Warner said in a letter to SEC Chairwoman Mary Jo White. Warner also asked the SEC to probe whether Yahoo has "made complete and accurate representations" about the security of its information technology...

  • Boston waterfront

    CNBC took a deep look at stocks in one urban area that have produced big stock returns in a wide diversity of industries.

  • LONDON, Sept 26- London's role as the world's top financial center could be under threat as the implications of Britain leaving the European Union start to sink in, a survey showed on Monday. The Z/Yen 20th global financial centers index, which looks at 87 financial centers, showed that London remains just ahead of New York, followed by Singapore and Hong Kong.

  • LONDON, Sept 26- London's role as the world's top financial centre could be under threat as the implications of Britain leaving the European Union start to sink in, a survey showed on Monday. The Z/Yen 20th global financial centres index, which looks at 87 financial centres, showed that London remains just ahead of New York, followed by Singapore and Hong Kong.