NEW YORK (Reuters) - Snap Inc, the newly renamed parent company of messaging app Snapchat, plans to start selling camera-equipped sunglasses starting this fall, Chief Executive Evan Spiegel told the Wall Street Journal in an interview. The sunglasses, dubbed Spectacles, will be sold via limited distribution for about $130, said Spiegel, who described the device as a toy. The first hardware to be sold by Snap, the sunglasses will record video from the user's perspective in 10-second increments that can be synched with his or her smart-phone. ...
Who becomes the next U.S. president will be a primary focus for Wall Street next week and beyond, starting on Monday with the first debate between candidates Hillary Clinton and Donald Trump. While the White House race has so far had little discernible effect on the market, that may soon change as polls show a tightening race. Clinton's once-comfortable lead in opinion polls has evaporated, and with just over six weeks until Election Day, some investors see a toss-up contest creating volatility in certain sectors, including health insurers, drugmakers and industrials.
Wall Street retreated on Friday as lower oil prices weighed on energy shares and Facebook and Apple declined, but major indexes still posted gains for the week. Energy was the worst-performing major S&P sector, dropping 1.3 percent. Oil prices tumbled 4 percent on signs Saudi Arabia and Iran were making little progress on a bilateral agreement ahead of talks by crude exporters aimed at freezing production.
(Reuters) - Wells Fargo & Co's board hired law firm Shearman & Sterling LLP to advise on executive compensation and potential clawbacks, the Wall Street Journal reported, citing people familiar with the matter. Robert Mundheim, a lawyer at the firm, is advising the bank's board on whether it should claw back pay of Chief Executive John Stumpf, Chief Operating Officer Timothy Sloan and former retail banking head Carrie Tolstedt, according to the WSJ report. The bank had said its board will assess whether to cancel or claw back any incentive compensation paid to Tolstedt, a now-retired executive at the center of the scandal.
WASHINGTON/NEW YORK (Reuters) - The Federal Reserve on Friday outlined a plan to limit Wall Street bets on the energy sector by forcing companies like Goldman Sachs and Morgan Stanley to hold more capital against such investments. Under current law, Goldman Sachs Group Inc and Morgan Stanley may invest in energy storage and transportation in ways that other banks cannot, but the U.S. central bank's new plan would make such bets more costly.
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Sow seeds of kindness to reap a crop of friends -- Unknown