U.S. shares opened sharply lower in the face of a price war for oil and the economic fallout from the coronavirus outbreak, with frightened investors seeking shelter in the safety of government bonds and propelling yields to unprecedented lows.256
Wells Fargo Chairman Elizabeth Duke and board member James Quigley have resigned from the board. They were among the executives scheduled to appear before the House Financial Services Committee this week.
Insurance brokerage Aon has agreed to merge with rival Willis Towers Watson in an all-stock transaction with a value of roughly $30 billion, a year after discussions of a planned takeover fell through.
It wasn’t too long ago that investors were lauding banks for their ability to withstand the effects of low rates. Not anymore; California law pressures small-company boards to include women, and a new approach to LED design.