|Wells Fargo CEO forfeits millions as board orders review|
(Reuters) - Wells Fargo & Co said on Tuesday that Chief Executive Officer John Stumpf will forfeit unvested equity awards worth about $41 million and will not get a salary while the company's board investigates the bank's sales practices. Carrie Tolstedt, the former head of the retail division at the center of a burgeoning sales scandal, has left the company ahead of her planned Dec. 31 retirement date, will get no severance and has forfeited unvested equity awards worth about $19 million, the bank said. Stumpf and Tolstedt will also not receive bonuses for 2016.
|Asia stocks inch up after Wall Street's gains, oil prices slide|
Asian stocks edged up early on Wednesday following an overnight rise for U.S. stocks, while reduced hopes that a meeting of major producers would reduce a oversupply weighed heavily on crude oil prices. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.1 percent. Australian stocks were up 0.5 percent while South Korea's Kospi was flat.
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