Business Richard Shelby

  • *India looking to source more energy from nuclear sector. NEW DELHI, Sept 22- India is negotiating with U.S. Export-Import Bank for an $8- 9 billion loan to finance six Westinghouse Electric nuclear reactors, two sources familiar with the talks said, although a lending freeze at the trade agency threatens progress. The mega-project, the result of warming U.S.-...

  • WASHINGTON— The Latest on the testimony of Wells Fargo's CEO before the Senate Banking Committee:. Regulators fined San Francisco- based Wells Fargo $185 million earlier this month, saying employees had opened the millions of accounts to meet aggressive sales targets. The Massachusetts Democrat, one of the fiercest critics of Wall Street, challenged John...

  • Wells Fargo CEO John Stumpf speaks at the Bay Area Council Outlook Conference on May 17, 2016 in San Francisco, California.

    As the bank heads to Capitol Hill for testimony on a fake accounts scandal, Wells Fargo may have one thing going its way.

  • NEW YORK/ WASHINGTON, Sept 13- Wells Fargo& Co scrapped its product sales goals for retail bankers on Tuesday and may take further disciplinary action against its employees in the wake of a fake account scandal that has already led to $190 million in fines and the firing of 5,300 employees. Wells Fargo has been hit hard by allegations its staff opened more than 2...

  • NEW YORK/ WASHINGTON, Sept 13- Wells Fargo& Co scrapped its product sales goals for retail bankers on Tuesday and may take further disciplinary action against its employees in the wake of a fake account scandal that has already led to $190 million in fines and the firing of 5,300 employees. Wells Fargo has been hit hard by allegations its staff opened more than 2...

  • WASHINGTON, Sept 13- Wells Fargo's practices of putting customers into fake accounts, which last week led the U.S. government to fine it $190 million, took center stage in Congress on Tuesday with staff members for Republicans on the Senate Banking Committee set to meet with representatives of the bank. Torrie Matous, spokeswoman for the committee's chairman,...

  • WASHINGTON, Sept 13- Wells Fargo's practices of putting customers into fake accounts, which last week led the U.S. government to fine the bank $190 million, took center stage in Congress on Tuesday with staff members for the Senate Banking Committee set to meet with representatives of the bank. Torrie Matous, a spokeswoman for the committee's chairman, Richard...

  • The move comes days after the Consumer Financial Protection Bureau and two other regulators fined the bank $185 million over abusive sales practices. Customers should know that Wells Fargo retail bankers are always focused on their best interests, Chief Executive John Stumpf said in a statement on Tuesday. On Monday, five lawmakers wrote a letter to U.S....

  • Richard Cordray, director of the Consumer Financial Protection Bureau, said during an interview on CNBC that he does not see problems similar to those discovered at Wells Fargo occuring "on any kind of systematic basis at any other bank." The enforcement action caught the attention of U.S. presidential candidate Hillary Clinton, who on Friday applauded...

  • BEIJING, Aug 9- A senior U.S. trade official on Tuesday complained that China's rising export subsidies were damaging American businesses and criticised the U.S. political system for failing to adapt to competition from China. U.S. Export-Import Bank Chairman Fred Hochberg told reporters in Beijing that China gave its exporters 10 times more financing than...

  • BEIJING, Aug 9- A senior U.S. trade official on Tuesday complained that China's rising export subsidies were damaging American businesses and criticised the U.S. political system for failing to adapt to competition from China. U.S. Export-Import Bank Chairman Fred Hochberg told reporters in Beijing that China gave its exporters 10 times more financing than...

  • Senator Richard Shelby, a Republican from Alabama

    Senator Shelby defended his vote against a bill that would have allowed the Justice Department to block firearm sales to suspected terrorists.

  • April 7- A delay in appointing members to the U.S. Export-Import Bank board threatens to cost Boeing Co sales, the company's chief executive said on Thursday, raising similar concern for General Electric and other U.S. companies that depend on the agency's export financing. Boeing is on the verge of losing orders because only two of five seats on the agency's...

  • Senate Majority Leader Mitch McConnell talks to reporters in Washington.

    Senate negotiators say they've reached an agreement on a six-year highway and transit bill subject to approval by rank-and-file lawmakers.

  • Sen. Shelby: 'We're Committing Financial Suicide'

    Sen. Richard Shelby, (R-AL), explains why he voted against the "fiscal cliff" bill, and weighs in on the need to "reform entitlement" programs.

  • WASHINGTON, Oct 5- Senators from the U.S. Gulf Coast urged President Barack Obama on Friday to ensure that any legal settlement for the 2010 Gulf of Mexico oil spill does not undermine a recently passed law that would funnel billions of dollars worth of fines to their states.

  • WASHINGTON, Oct 5- Senators from the U.S. Gulf Coast urged President Barack Obama on Friday to ensure that any legal settlement for the 2010 Gulf of Mexico oil spill does not undermine a recently passed law that would funnel billions of dollars worth of fines to their states.

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    The White House is struggling to fill key financial posts in the administration as a combination of Senate opposition and candidates’ reluctance to join up leaves critical positions empty. The FT reports.