Opponents of Philadelphia
Energy Solutions' bankruptcy plan have vowed a long legal fight
if a federal court this week approves a sale that would keep the
largest East Coast oil refinery permanently shut while paying
out bonuses to company executives.
Wells Fargo & Co Chief Executive
Charles Scharf announced his first major reshuffle on Tuesday,
promoting several executives to new roles while also tapping a
JPMorgan veteran to head consumer lending.
Germany's new appointee to the
European Central Bank's board, Isabel Schnabel, defended the
ECB's easy-money policy on Tuesday, saying that the euro zone
would be been worse off without it and it was up to others to
counter the side effects.
American households added $193 billion of
debt in the fourth quarter, driven by a surge in mortgage loans,
and overall debt levels rose to a new record at $14.15 trillion,
the Federal Reserve Bank of New York said on Tuesday.
PayPal Holdings Inc is
teaming up with criminologists and experts at several
universities to probe the payment systems used in the
trafficking of illegal firearms in the United States, the
company said on Tuesday.
Portugal's public prosecutor's
office said on Tuesday it had ordered the seizure of Portuguese
bank accounts belonging to Angolan billionaire and former first
daughter Isabel dos Santos, who is a suspect in a fraud
investigation in Angola.