Wells Fargo & Co will not finish paying back the estimated 600,000 customers it wrongly charged for auto insurance until at least 2020, the bank said in a letter to U.S. lawmakers seen by Reuters.
Declines in big tech and Internet stocks such as Amazon pushed the Nasdaq lower on Monday, while strength in financial shares mitigated declines for the S&P 500 as investors grappled with a recent spike in market volatility.
An early gain on Wall Street fizzled and sent global stocks lower on Monday as investors remained cautious despite IBM's $34 billion deal to purchase Red Hat Inc and Standard & Poor's decision to keep Italy's credit rating unchanged.
Oil prices edged lower on Monday, with futures on track for the worst monthly performance since mid-2016, after Russia signaled that output will remain high and as concern over the global economy fueled worries about demand for crude.
A five-year old Chinese smartphone company whose high-end products are little known outside a tech-savvy niche is entering the U.S. market on Monday with the backing of two key local allies: chipmaking giant Qualcomm and mobile operator T-Mobile.
IBM Corp's $34 billion deal to buy Red Hat Inc drove shares in the small but fast-growing software maker about 50 percent higher on Monday, reflecting the huge premium IBM is paying to ward off any potential challenger bids.
Alphabet Inc's Google announced on Monday that it would grant about $25 million globally next year to humanitarian and environmental projects seeking to use artificial intelligence (AI) to speed up and grow their efforts.
Airbus will have to equal a record final quarter for deliveries if the European planemaker is going to meet its overall 2018 targets following a series of production setbacks.
General Motors Co said it favors an annual increase in fuel-efficiency standards based on "historic rates" rather than tough Obama era rules or a Trump administration proposal that would freeze requirements.
Shares of U.S. automakers rose on Monday after a report that China was considering halving its car purchase tax to 5 percent to support its struggling auto industry, which has been hit hard by the ongoing Sino-U.S. trade war.
