Trust Digest 156 (September 13, 2016)

Wells Fargo CEO Defends Bank Culture, Lays Blame With Bad Employees
John Stumpf, chief executive of Wells Fargo & Co., began to speak publicly Tuesday for the first time since the bank was slapped with a $185 million fine last week over its sales practices, defending the firm and the work he said it had already been doing to weed out bad behavior.  
Key Words: Wells Fargo, bank culture  
Trust Issues: Adjustment, Capability, Integrity  

U.S Health Law Faces Critical Year  
Significant spikes in premiums, insurer dropouts and persistently low enrollment numbers are combining to make this fall’s sign-up period a crossroads for the Obama administration’s signature health law. 
Key Words: Obama Administration, Affordable Care Act  
Trust Issues: Adjustment, Capability 

St. Jude Medical Sues Short Seller Over Device Allegations 
The medical-device maker says Muddy Waters intentionally made false claims to profit from a decline in stock.
Key Words: St. Jude, Muddy Waters  
Trust Issues: Risk Tolerance, Integrity, Benevolent Concern 

BlackRock Seeks More Scrutiny of Burgeoning Robo-Advice Market  
BlackRock Inc. urged regulators to increase scrutiny of robo-advisors as customers flock to automated services, lured by low fees and ease of use.  
Key Words: BlackRock, robo-advisors, regulators  
Trust Issues: Transparency, Adjustment 

EU Stresses Importance of U.S. Investment Following Apple Ruling  
The European Union’s ruling that Ireland should recoup €13 billion ($14.5 billion) in allegedly unpaid taxes from Apple Inc. wasn’t an attack against the U.S. or American companies, the bloc’s taxation chief Pierre Moscovici said Saturday.  
Key Words: Apple, EU ruling, US investments  
Trust Issues: Adjustment, Communications, Conflict of Interests  

Gulf states condemn law letting 9/11 families sue Saudi Arabia  
The Saudi-dominated Gulf Cooperation Council (GCC) on Monday condemned a law passed by the United States Congress last week that would allow the families of victims of the Sept. 11 attacks to sue the kingdom’s government for damages. 
Key Words: 9/11, Saudi Arabia, law suits  
Trust Issues: Capability, Conflict of Interests  

Alcohol Companies Push Back Against U.K. Health Warnings    
The world’s biggest alcohol companies have banded together to fight British government warnings about the dangers of drinking, funding a group dedicated to ensuring “the debate in U.K. society around alcohol and alcohol misuse remains balanced.” 
Key Words: U.K., alcohol debate  
Trust Issues: Risk Tolerance, Adjustment, Transparency   

The Latest: Syrian cease-fire goes into effect    
The Latest on developments in the civil war in Syria where a cease-fire brokered by the United States and Russia is due to start at sundown.  
Key Words: Syria, U.S., Russia, cease-fire  
Trust Issues: Situational Adjustment, Conflict of Interests, Risk Tolerance  

South Sudan Leaders Amass Great Wealth as Nation Suffers, Report Says    
Leaders of the two sides responsible for mass killings and rapes in the South Sudan conflict have amasses enormous wealth inside and outside the country, at least some of it illegally, according to an investigative report released on Monday by a Washington advocacy group.  
Key Words: South Sudan conflict, President Salva Kiir, Riek Machar  
Trust Issues: Benevolent Concern, Integrity, Power 

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