Ohio Gov Kasich suspends Wells Fargo state business
Ohio Governor John Kasich announced a year long ban on Wells Fargo from state agency contracts and future bond offerings. He cited the bank's sales scandal and pledged to seek services from other banks while urging reforms to regain public trust.
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US stocks inch higher as banks rise and drugmakers fall
U S stocks ended barely higher as banks and technology shares rose while drugmakers and energy stocks slipped due to higher bond yields. Dow up 39.44 to 18138.38. S&P 500 at 2132.98. Nasdaq 5214.16. Goldman Sachs led Dow gains after a court ruling. HP to cut 3000 to 4000 jobs. Twitter slides amid buyout chatter. Energy, utilities and retailers faced pressure from rising yields and mixed retail data.
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Chinese nationals who defrauded Goodyear jailed in Ohio
Two Chinese nationals Xin Franco Fan and Rex Xu Yu were sentenced in Akron, Ohio, to 27 months in prison for a $1.5 million kickback scheme against Goodyear Tire and Rubber Co. They pleaded guilty to conspiracy to commit wire fraud and honest services wire fraud and must repay the full amount.
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