World markets down ... Infosys CEO resigns ... Judge clears way for expanded NV marijuana distribution
HONG KONG (AP) — World stock markets fell today as investors reacted to U.S. political upsets and the terror attack in Spain. In early trading, European shares fell. Asian markets closed mostly lower. The Shanghai Composite index ended flat. Wall Street is expected to open down this morning, with both Dow and S&P futures 0.1 percent lower.
NEW DELHI (AP) — The CEO of outsourcing and information technology company Infosys has resigned following differences with some founders of the company. A company statement says the board of directors has accepted Vishal Sikka’s resignation and appointed an interim CEO and managing director. In his notice to the board, Sikka said he was leaving because of “a continuous stream of distractions and disruptions” that were hindering management of the company.
NEW YORK (AP) — Three public pension funds are suing six Wall Street banks, saying the banks overcharged investors in what’s known as the stock loan market. The suit is being brought by the Iowa Public Employees’ Retirement System, the Orange County Employees Retirement System and the Sonoma County Employees’ Retirement Association. Those being sued are Goldman Sachs, JPMorgan Chase, UBS, Credit Suisse, Morgan Stanley and Bank of America.
NEW YORK (AP) — Federal regulators have proposed a $183.3 million settlement with a student loan company that authorities allege engaged in predatory lending practices. The Consumer Financial Protection Bureau filed a lawsuit and settlement against Aequitas Capital Management, a private equity fund that purchased or funded $230 million in loans to students at Corinthian Colleges. The private college went out of business in 2015 on allegations of fraud.
CARSON CITY, Nev. (AP) — A judge has cleared the way for Nevada to allow more businesses to move marijuana from growers to stores in an effort to keep up with overwhelming demand since recreational pot sales began last month. Carson City District Judge James Russell lifted an order Thursday, blocking regulators from issuing pot distribution licenses to anyone other than alcohol wholesalers.