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Stocks edge down...Oil prices tumble... Wells Fargo ordered to reinstate whistleblower



Estimated read time: 2-3 minutes

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NEW YORK (AP) — All four major U.S. stock indexes remain near record highs, despite finishing a little lower on Friday. The S&P 500 slipped just under a point. The Dow dipped more than 31 points and the Nasdaq lost 2 points. The Russell 2000 index of smaller-company stocks sank more than six points. Meanwhile, European stocks took sharp losses on Friday after Reuters reported the European Central Bank will consider paring back its stimulus programs in late October.

NEW YORK (AP) — Oil futures are down. Benchmark U.S. crude lost $1.15 to $45.77 a barrel in New York on Friday. At the same time, Brent crude, the standard for international oil prices, shed $1.24, or 2.5 percent, to $48.06 a barrel in London.

NEW YORK (AP) — Wells Fargo is being ordered to reinstate a California-based branch manager it fired in 2011 after the manager tried to blow the whistle on the bank's growing sales practices scandal. The Department of Labor on Friday also ordered Wells Fargo to pay $577,500 in back wages. Wells Fargo paid $185 million to federal and local authorities over the scandal and recently reached a $142 million settlement in a class-action lawsuit involving the accounts.

SEATTLE (AP) — Attorneys have filed a lawsuit challenging Seattle's new ordinance to tax high-income earners. Multiple news outlets report the suit was filed on behalf of Seattle resident and investment manager Michael Kunath. The suit alleges the city's plan to impose a 2.25 percent tax on single taxpayers who earn more than $250,000 and joint filers who earn more than $500,000 breaks state law prohibiting cities from collecting taxes on net income.

WASHINGTON (AP) — President Donald Trump's son-in-law and senior adviser Jared Kushner has added more than 70 assets worth at least $10.6 million to his revised personal financial disclosure. According to the disclosure, the additional assets were "inadvertently omitted" from an earlier form. Kushner's wife, Ivanka Trump, also filed new federal disclosures. She reported assets of at least $66 million and at least $13.5 million in income last year from her various business ventures.

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The Associated Press

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