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Joe Ritchie of Goldman Sachs asks about weakness in China. CEO Inge Thulin said that in the last two years the Chinese market was slow. In 2Q16, there was more pressure on Electronics business. Consumer and Healthcare businesses did well. In Industrial business, $MMM expects more growth in China in the future.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.