Business News


August consumer spending was flat the weakest in five months. The softer number was due to a drop in spending on autos. Personal incomes rose 0.2% during the month. Wages and salaries, the biggest income category, were up just 0.1% after two months of 0.5% increases. (CNBC)

In the wake of their fraudulent opening of 2 million client accounts without their knowledge, Wells Fargo is facing bans from doing business with the city of Chicago and the state of Illinois. California last week suspended the state's business relationships with Wells Fargo. (CNBC)

Big news in the hunting and fishing world. Bass Pro Shops is buying Cabela's in a deal valued at $5.5 billion. Under the agreement, Cabela's shareholders will receive $65.50 a share in cash. That is an over 15% premium to Fridays closing price. (Fox Business News)

They voted but no action has been taken since then.  Now Britain’s Prime Minister says they will leave the EU by 2019.  Lots of trade negotiations will take place between now and then. (Bloomberg)

With Northwest Quadrant Wealth Management, a Registered Investment Advisor I am Troy Reinhart.
 

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