Wells Fargo To Be Sanctioned By DOJ For Improperly Seizing Soldiers' Cars

And the hits just keep on coming. The full court press on Wells Fargo continues, on the heels of California's sanctions, Bloomberg reports the bank is now facing a Justice Department sanction over improperly repossessing cars owned by members of the military, according to two people with knowledge of the investigation.

Iraq Revolts, Says "We Cannot Accept" OPEC Deal In This Form

"These figures do not represent our actual production," Iraq's oil minister Luaibi told reporters. If by November estimates do not change, "then we say we cannot accept this, and we will ask for alternatives". Luaibi went even further and asked a reporter from Argus Media - whose data OPEC uses among other sources to compile estimates of countries' production - to disclose from where Argus' estimates were coming. "Your sources are not acceptable."

Outflows From Active Funds Surpass A Record $200 Billion

Over the last several years, we have observed an accelerating trend of flows out of active funds and into passive vehicles. Price sensitivity of investors to fees, coupled with poor performance trends, have conspired against active funds, and year-to-date flows out of active have reached a post-crisis high. As of this moment, the outflows from active funds have surpassed $200 billion: an all time high.

Apple, Nasdaq Slide On Report Of Exploding iPhone 7

First it was Samsung, now it's Apple's turn. According to a just released report by Boy Genius Report, an iPhone 7 did what its main South Korean competitor has seemingly mastered: it exploded.

Watch Live As Wells CEO John Stumpf Gets Grilled On The Hill Again: Five Things To Look For

Wells Fargo embattled CEO John Stumpf returns to Capitol Hill for the second time in 10 days, for a contentious hearing with the House Financial Services committee. Despite Stumpf's belated clawback of $41 million in unvested stock, which took place only after tremendous congressional and populist outrage, his job remains very much under threat.

India Assets Slide After Modi Launches "Surgical Strikes" In Kashmir, Killing Two Pakistani Soldiers

India conducted "surgical strikes" on suspected terrorist camps just across the border in Pakistan, marking its first direct military response to an attack on an army base it blames on Pakistan. The military offensive was the worst since 1999, when then-Prime Minister Atal Bihari Vajpayee - also a member of Modi’s nationalist Bharatiya Janata Party - responded to what he said was repeated cross-border infiltrations by militants in Kashmir.

Frontrunning: September 29

  • Stocks Jump as OPEC Splits Markets; Indian Assets Drop on Attack (BBG)
  • In U-Turn, Saudis Choose Higher Prices Over Free Oil Markets (BBG)
  • Congress Passes Spending Bill to Keep Government Running (WSJ)
  • Wells Fargo chief Stumpf heads to Hill with pressure mounting (Reuters)
  • Lawmakers Won’t Let Wells Fargo Forget Its Scandal Anytime Soon (BBG)