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In this list

Wells says loss from Illinois suspension only $50,000, not 'millions'

Entertainment Promos Take Center Stage Amid Coronavirus Lockdowns

Gauging Supply Chain Risk In Volatile Times

Internet Traffic Spikes By One Third In March

Medical IoT Technology in US Hospitals Helps to Reduce Costs and Improve Care


Wells says loss from Illinois suspension only $50,000, not 'millions'

Illinois' decisionto suspend investmentactivity with Wells Fargo & Co.will cost the bank "millions" in fees, said State Treasurer Michael Frerichs.Wells' calculation of the loss was a bit different — just $50,000a year in lost revenue, the Financial Timesreports.

NorthCarolina, meanwhile, is "actively monitoring" the fake-account falloutat Wells before deciding if it has to get on the bandwagon.The state said it is not aware of having suffered from any of the unethical businesspractices recently uncovered, according to the Charlotte Business Journal. The same goes for Arizona,the Phoenix Business Journal reports.

Now Sen. SherrodBrown wants to block Wells from implementing the mandatoryarbitration that would prevent clientsfrom filing class-action suits,at least in connection to the scandal that saw 5,300 employees and CEO John Stumpf's equity awardsclawed back.

And the softBrexit investment banks might have hopedfor is looking even more unlikely. After the announcement that will be triggered by the end ofMarch 2017, sources for Bloomberg News say the financial sector simply isn't a priority.U.K. Prime Minister Theresa May isplanning nointerim deal to help banks transition.

In community banking news, of Illinoishas terminated two loss-share agreementswith the FDIC. It will pay the regulator $565,000 and record an after-tax chargeof about $225,000 in the fourth quarter.

In California,First Foundation Bankis buying two of Pacific Western Bank'sbranches — gaining about $200 millionin deposits, but no loans.

The fintech scene is seeing some executive moves:William Ready has beennamed PayPal Holdings Inc.'sCOO, while The Wall Street Journal reportsKenDeGiglio is now EquiLend Holdings' first chief information officer.

And the WSJ has a few more details on 's plan touse the public cloud for its blockchain initiatives. The project, Quorum,will be built off Ethereum and will limit access to the normally transparent blockchainso only regulators and certain parties can view the bank's data.

Speaking of regulators,the Cleveland Fed's Loretta Mester told Bloomberg that the November FOMC meetingwill be a liveone, meaning a rate hike could be announced, despite possible market volatilityfrom the presidential election.

And, in Canada, it's not just British Columbia's local governmenttrying to cool the Vancouver housing market down. The country's Ministry of Financeis "actively engaged in monitoring and addressing the overall health and stabilityof the housing market and financial system" and plans to close "loopholessurrounding the capital gainstax exemption on the sale of a principal residence."

In other parts of the world

Asia-Pacific:

Europe:

Middle East &Africa: Kenya's Family Bank to shedjobs; Mozambican banks 'in good health'

The day ahead

Early morningfutures indicators pointed to a higher opening for the U.S. market.

In Asia, the HangSeng rose 0.45% to 23,689.44, and the Nikkei 225 was up 0.83% to 16,735.65.

In Europe as ofmidday, the FTSE 100 was up 1.64% to 7,098.27, and the Euronext 100 rose 0.78% to888.46.

On the macro front

The Redbookand the Gallup US ECI are due out today.

The Daily Dose is updated as of 7:30 a.m. ET. Some external links mayrequire a subscription.