Of all the cases of economic espionage charged by the DOJ's National Security Division since 2012, more than 80% of them implicated China.World Politicsread more
"Whilst there is a big dispute at the moment, I think there's also potential for resolution," UBS chairman Axel Weber says of the U.S.-China trade negotiations.Singapore Summitread more
Cryptocurrency fans will hope the futures contracts, which are federally regulated, can provide some much-needed legitimacy to bitcoin.Cryptocurrencyread more
Despite mixed fan and critic reactions to the final season of "Game of Thrones," the eight-season epic took home the top prize in the drama category at the Emmy Awards on...Entertainmentread more
There are alternative financial centers and investors can turn to Singapore, Tokyo or Shanghai if Hong Kong doesn't "shape up," says the founder and chairman of Citic Capital.Singapore Summitread more
The Kingdom and oil and gas industry have been slow to shore up defenses, raising red flags about the possibility of longer term fall-out in the region.Technologyread more
Tensions between South Korea and Japan may ultimately disrupt the high-end tech sectors, says Heenam Choi, CEO at South Korea's sovereign wealth fund.Singapore Summitread more
On Sunday, the 71st Primetime Emmy Awards honored the best comedies, dramas, limited and variety series from the last year.Entertainmentread more
U.S. President Donald Trump's national security advisor said on Sunday that White House Asia policy adviser Matt Pottinger would become his top deputy.Politicsread more
Removing Neumann is a difficult decision for Son, who has long believed in WeWork and Neumann's vision to quickly expand the company.Technologyread more
Datadog went public on Thursday and instantly hit a $10 billion valuation, becoming the fourth cloud software debut to reach that level this year.Technologyread more
It will take more than the retirement of Wells Fargo CEO John Stumpf to make California State Treasurer John Chiang change his mind about doing business with the bank again.
In September, the state suspended its relationship with Wells Fargo after the bank was accused of defrauding customers.
Stumpf retired effective immediately on Wednesday. President and Chief Operating Officer Tim Sloan was chosen to succeed him as CEO and Lead Director Stephen Sanger will serve as the board's non-executive chairman.
Chiang told CNBC's "Closing Bell" on Thursday he is going to watch the bank closely to make sure there is a change in culture and it returns to serving customers.
"If we're going to have more of the same, that's not acceptable," he said. "We are beyond the point of tweaking. We want to see fundamental reform of Wells Fargo before we make a decision."
The bank came under fire after it was revealed that employees in its community banking division opened about 2 million accounts without customer authorization. Wells Fargo ultimately paid $185 million in fines, and Stumpf found himself in the crosshairs on Capitol Hill.
California's sanctions include suspending Wells Fargo as a managing underwriter on state negotiated bond sales. Chiang said the financial hit for the bank will probably be in the millions.
Plus, California is the nation's largest issuer of municipal debt.
"There is huge prestige when you say you can do business with the largest municipal issuer. We want them to get back on the right track. We're not trying to create harm for them. We want them to fix the problems," he said.
New York City is still doing business with Wells Fargo, for now. The city's municipal pension funds include over 10,000 shares of the bank.
Comptroller Scott Stringer, whose office advises on those municipal pension funds, welcomed the news that Stumpf has left the company.
However, he told "Closing Bell" he wants more accountability at the firm for what happened, noting that no managers have been fired. He has also called for clawbacks, or recouping executive compensation, at the bank.
"We need to see results. We need to see transparency. And we need to send a very strong message that we're watching and yes, if you do not do what we expect you to do … we could pull out as well."
— Reuters contributed to this report.