Wells Fargo’s new CEO faces immediate test

Tim Sloan will not have much time to prepare his pitch for Wall Street. The newly installed chief executive of Wells Fargo & Co will present third-quarter results on Friday, less than 48 hours after replacing John Stumpf at the helm of the bank. Sloan's nearly 30 years with Wells, largely spent on the corporate and institutional side of the bank, and his moderate temperament make him a safe pair of hands.

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Wells Fargo’s new CEO faces immediate test

Yahoo shares rise as board meets and considers sale of Web business

Plans by Yahoo Inc's board to consider selling its struggling Internet business sent the company's shares up nearly 6 percent on Wednesday, as investors cheered a potential new way to separate Yahoo's traditional services from its valuable investment in Chinese Web merchant Alibaba. Yahoo's board is weighing the sale of the Internet business at a three-day board meeting starting on Wednesday, a source familiar with the matter told Reuters. Chief Executive Marissa Mayer's attempts to revive the traditional business have born little fruit, and almost all of Yahoo's market capitalization of about $34 billion is ascribed to its stakes in Chinese e-commerce company Alibaba Holding Group Ltd and Yahoo Japan Corp .

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Yahoo shares rise as board meets and considers sale of Web business