Bloomberg Wells Fargo & Co.’s attempt to force aggrieved customers into closed-door arbitration over its fake-accounts scandal is drawing a legislative backlash in its home state of California and risks subjecting the bank to another round as a public punching bag. Following pledges at Capitol Hill hearings and in advertisements that it would rebuild customer trust, the San Francisco-based ...

  Milan / AFP Italy’s Monte dei Paschi di Siena saw its stock tumble more than 12 percent over reports the ECB had denied it more time to raise the cash it needs to avoid being wound down. The world’s oldest bank had asked the European Central Bank for two more weeks to find the funds, saying political instability created ...

  Berlin / AFP Europe’s largest economy Germany is “on a sound upward path” for faster-than-expected growth in 2016 and 2017, its central bank said, but remains at risk from Donald Trump and Brexit. Germany’s “main driver is buoyant domestic demand, which is being bolstered by the favourable situation in the labour market and by rising household income,” Bundesbank president ...

  London / AFP International banks have enquired about switching operations from London to Paris following Britain’s vote in favour of exiting the European Union, according to a senior official at France’s markets regulator. “Large international banks… have already undertaken real due diligences and we have received a lot of practical questions regarding the way they are going to be ...

  Bloomberg Here’s a silver lining for India’s bond bulls stung by losses after the central bank’s surprise decision not to cut benchmark interest rates — better rupee outlook. Analysts say the Reserve Bank of India panel’s move to hold rates, which caused the benchmark 10-year yield to jump the most since 2013, could revive overseas demand for rupee debt ...

  Bloomberg Microsoft Corp. is creating a version of the Windows 10 operating system that will run on laptops powered by Qualcomm Inc. chips, a move that could erode Intel Corp.’s dominance in PCs and help the software maker gain a bigger foothold in mobile computing. Chips from Qualcomm, the largest maker of semiconductors used in phones, are designed to ...

  Relaxnews Acer Starbreeze, Facebook Oculus, Google, HTC Vive, Samsung and Sony Interactive Entertainment have announced the formation of an international non-profit organization, called the Global Virtual Reality Association (GVRA), to research and foster virtual reality technology and bring together all the players in this global industry, including consumers. Together, partners in the alliance hope to shape the future of ...

  Bloomberg BlackBerry Ltd. rebranded the software products it acquired over the last three years, tying them together into a single system it hopes will be the go-to platform companies and governments use to protect their electronic devices from hacks. The system, called “BlackBerry Secure,” is the culmination of Chief Executive Officer John Chen’s efforts to shift the company from ...

  BERLIN / AP Scientists have developed a mind-controlled robotic hand that allows people with certain types of spinal injuries to perform everyday tasks such as using a fork or drinking from a cup. The low-cost device was tested in Spain on six people with quadriplegia affecting their ability to grasp or manipulate objects. By wearing a cap that measures ...

  Bloomberg Fiat Chrysler Automobiles NV will reveal a fully electric vehicle based on the Chrysler Pacifica minivan at CES in Las Vegas next month as the carmaker moves to get in step with the industry’s shift toward electric vehicles. The Italian-American carmaker will show the model at CES, formerly known as the Consumer Electronics Show and the world’s largest ...