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Senators seek Labor Department probe of Wells Fargo

Eight U.S. Democratic senators asked the Labor Department on Thursday to launch a probe into whether Wells Fargo (WFC.N) may have violated wage and working hour laws by failing to pay overtime to tellers and sales representatives who stayed late to meet sales quotas. The request comes after Wells Fargo …

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Fed keeps rates steady, signals one hike by end of year

The U.S. Federal Reserve left interest rates unchanged on Wednesday but strongly signaled it could still tighten monetary policy by the end of this year as the labor market improved further. Fed Chair Janet Yellen, speaking after the central bank’s latest policy statement, said U.S. growth was looking stronger and …

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Bitcoin is money, U.S. judge says in case tied to JPMorgan hack

Bitcoin qualifies as money, a federal judge ruled on Monday, in a decision linked to a criminal case over hacking attacks against JPMorgan Chase & Co and other companies. U.S. District Judge Alison Nathan in Manhattan rejected a bid by Anthony Murgio to dismiss two charges related to his alleged …

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GM and Canada union far apart on product as strike looms

Canada’s autoworkers’ union Unifor and General Motors Co (GM.N) made little progress resolving the key issue of new investment in contract talks late on Sunday, the union’s president said, just over 24 hours ahead of a strike deadline. The automaker and the union representing its Canadian manufacturing workers have been …

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VW’s Audi R&D head to be suspended over emissions scandal: Bild am Sonntag

Volkswagen’s (VOWG_p.DE) Audi head of development will be suspended this coming week as part of the investigation into an emissions scandal, Bild am Sonntag reported citing sources. Investigations by Jones Day have shown that Stefan Knirsch, an Audi board member, knew about the use of cheat software in 3.0 liter …

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Samsung to replace or refund 1 million U.S. Galaxy Note 7 phones

Samsung Electronics Co Ltd (005930.KS) formally recalled 1 million Galaxy Note 7 smartphones sold in the United States, replacing or refunding the flagship phones, whose susceptibility to catching fire has damaged the image of the Korean powerhouse. Samsung received 92 reports of batteries overheating in the United States, including 26 …

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Americans blame Washington gridlock for slow economic growth: study

Americans blame political gridlock in Washington for the country’s declining economic competitiveness and hold both Democrats and Republicans responsible, a Harvard Business School study released on Wednesday found. The study noted that U.S. gross domestic product grew at a rate of about 2 percent since 2000, well below the 3 …

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