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In 2Q16, $RF's total net charge-offs rose $4MM to $72MM representing 35 BP of average loans. The provision for loan losses matched the charge-offs in the quarter and allowance for loan losses as a percent of total loans remained unchanged at 1.41%. Total non-accrual loans, excluding loans held for sale jumped 3% from 1Q16.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.