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The Morning Risk Report: Trump, Saudis Escalate Threats |
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President Trump shakes hands with Saudi Arabia's Crown Prince Mohammed bin Salman at the White House in March. PHOTO: JONATHAN ERNST/REUTERS
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Good day. Saudi Arabia on Sunday threatened to retaliate against possible punitive measures after President Trump vowed “severe punishment” if an investigation proves the kingdom was behind the suspected death of a prominent Saudi journalist.
The Saudi government said that if economic sanctions or other forms of punishment were imposed on the kingdom, “it will respond with a larger action,” according to an official statement, which didn’t specifically mention the U.S. or any other country.
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The world’s top oil exporter warned that it “plays an impactful and active role in the global economy.” The comments marked Riyadh’s strongest response so far to mounting international pressure over the mystery surrounding the disappearance of Saudi journalist Jamal Khashoggi, who was last seen entering the Saudi consulate in Istanbul on Oct. 2.
Turkish authorities believe Mr. Khashoggi, a government critic, was killed by Saudi hit men inside the consulate, and claim they have video and audio evidence to prove it. Saudi Arabia has denied the allegation.
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New York Regulator Fines UAE-Based Bank $40 Million |
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The New York financial regulator said it fined Dubai-based Mashreqbank PSC and its only U.S. branch $40 million for violating U.S. anti-money laundering laws.
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U.S. Extends Deadline on Rusal, EN+ Divestment Another
Time |
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The U.S. Treasury Department has again extended a deadline allowing for the sale or transfer of shares of EN+ Group PLC and United Co. Rusal from people under U.S. sanctions to those not on the list.
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Google is shutting down the consumer version of its Google Plus social network after the WSJ revealed it had exposed the data of hundreds of thousands of users. PHOTO: MARK LENNIHAN/ASSOCIATED PRESS
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Don’t Be Haunted by Digital Ghosts: Delete Your Old
Accounts |
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The recent revelations of exposed Google+ data and compromised Facebook security serve as stark reminders that many of us have a long digital trail of information, often in accounts we’ve forgotten about, don’t use much anymore—or didn’t even know existed.
Some accounts might just have your birth date and phone number; others could have bank or credit-card information. “A few minutes to clean up a few of those old things is probably not unreasonable,” says security researcher Kenneth White.
The Wall Street Journal’s Katherine Bindley explains how.
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Facebook Says Fewer Affected by Hack Than First Thought |
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Facebook Inc. said fewer users than it initially thought were exposed to hackers in the largest-ever security breach at the social-media giant. The company detailed for the first time the extent of personal information accessed.
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GitHub Officer Warns About U.S. Reluctance to Regulate Data
Privacy |
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Julio Avalos, chief strategy officer and general counsel at GitHub Inc., warns that a hands-off approach to regulating tech companies could be a disadvantage to businesses.
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Fiber Damage Vexes Verizon After Hurricane Michael |
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Hurricane Michael has caused such extensive damage to the fiber that underpins Verizon Communications Inc.’s wireless network that it has stymied efforts to restore service to the hardest-hit areas of the Florida Panhandle.
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October Rout Will Test Pensions’ Wall Street Crash
Protection |
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USA Gymnastics Interim CEO Mary Bono Criticized Nike in Tweet |
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Mary Bono, who was named interim chief executive of USA Gymnastics, says she regrets a September tweet in which she disparaged Nike Inc., a sponsor of the U.S. Olympic Committee.
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Salesforce, Twitter CEOs Spar Over the Homeless |
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Two of the technology industry’s high-profile chief executives engaged in a public spat over one of San Francisco’s most vexing issues: homelessness.
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Sears is expected to close at least 150 stores immediately. RICHARD B. LEVINE/ZUMA PRESS
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Sears Files for Chapter 11 Bankruptcy |
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Sears Holdings Corp. filed early Monday for bankruptcy protection from creditors. The retailer reached a deal with its lenders that will allow the 125-year-old company to keep hundreds of its stores open for now. The company said its controlling shareholder, Edward Lampert, has stepped down as CEO, but will remain chairman.
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Bank of America Is Missing Out on Wall Street’s Boom |
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Bank of America Corp.’s purchase of Merrill Lynch & Co. was supposed to make the lender a top-flight global investment bank. A decade later, the bank is struggling to make good on that promise.
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Judge Strips Deciem Founder of CEO Title and Board Seat |
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An Ontario court judge sided with cosmetics giant Estée Lauder Cos. in its legal fight against Deciem founder Brandon Truaxe, ordering that he be removed from the skin-care company he started in 2013.
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A Drama CBS Can’t Cancel—the One in Its Boardroom |
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CBS Corp.'s boardroom drama continues even after Leslie Moonves stepped down as chairman and chief executive and the media company settled litigation with its controlling shareholder. Two board directors have quit, and a probe is looking into the conduct of individual members.
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Fannie Mae's Comeback Captain Reflects on His Tenure |
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Fannie Mae was receiving capital infusions from the Treasury Department, managing tens of thousands of foreclosed homes and facing bipartisan calls for its abolition when Timothy Mayopoulos joined the mortgage-finance company nine years ago as general counsel. He leaves Monday after six years as CEO.
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SEC Suspends Former BDO Accountants |
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Three former accountants for BDO USA LLP will be suspended from auditing public companies over alleged improprieties in an audit of insurer AmTrust Financial Services Inc.
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