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Business Matters: Wells Fargo Boss Stumpf Resigns

News

Wells Fargo

13/10/2016 GMT

Wells Fargo Boss Stumpf Resigns

BBC World Service - Business Matters, Wells Fargo Boss Stumpf Resigns

The embattled bank's CEO steps down following a scandal over its sales tactics.

Wells Fargo CEO John Stumpf resigns following a scandal over the bank's sales tactics. Plus, should the revolving door between business and politics be shut?

Wells Fargo's chief executive, John Stumpf, resigns following a scandal over the bank's sales tactics involving more than two million unauthorised accounts. Emily Grazer, from the Wall Street Journal, tells us America's second biggest bank has a long way to go to restore trust.

Anger grows over former European Commission President Jose Manuel Barroso's new job at Goldman Sachs - a petition calling for him to lose his pension now has more than 150,000 signatures. We ask whether the so-called revolving door between business and politics should be closed.

Is YouTube the right place to give teenagers sex education? We talk to the founders of a new video venture.

Plus, how Spain's economy has been coping without a government for the last nine months, and the small Slovenian town fighting the French for access to a long-dead king.

Joining Roger Hearing throughout the programme: Catherine Yeung from Fidelity International in Hong Kong, and Nancy Koehn, historian of business at Harvard Business School.

(Picture: A Wells Fargo bank sign in Oakland, California. Credit: Justin Sullivan, Getty Images)

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