Hints and tips:
...Over the past two years, big banks such as JPMorgan Chase, Bank of America, Citigroup and Wells Fargo charged more for loans in lockstep with the Fed lifting interest rates, without passing on the increase...
...Wells Fargo’s bank analyst Mike Mayo has a well-deserved (if not entirely unblemished) reputation for being an unusually acerbic member of the “great quarter guys!” industry....
...The Wells Fargo Investment Institute has five hot ideas for your portfolio this year....
...Fargo Q3 World events Finally, here is a rundown of other events and milestones this week....
...“F.E.E.L.I.N.G.C.A.L.L.E.D.L.O.V.E” and “Sorted for E’s & Wizz” were ticked off like rites of passage from someone moving from Sheffield outsider to Britpop in-crowd....
...It is a weekend well-worth the 2h drive from town — if you’re lucky enough to score tickets....
...Fargo analysts wrote on Monday....
...Analysts estimate JPMorgan Chase, Bank of America, Citigroup and Wells Fargo to report collective net interest income for the final three months of 2022 of almost $60bn, up 30 per cent year on year, according...
...at Wells Fargo....
...A spiral follows. I think of both the Enron accounting fraud and the Wells Fargo fake accounts scandal this way, for example. Things go to hell by baby steps, in other words....
...For Cristina, a managing director at an investment bank in London, resetting the engagement ring her husband gave her 14 years before was a no-go....
...Keen for years to get a foothold in the US and its powerful economy, international banks have struggled to compete with the critical mass of lenders like JPMorgan Chase, Bank of America and Wells Fargo....
...The US president announced last month he intends to appoint Saule Omarova as comptroller of the currency, which supervises national banks including Bank of America and Wells Fargo....
...I thought of a case Austin had told me about, an asset trace during which he finally managed to connect a dodgy magnate — “think Ray Winstone in Sexy Beast” — to a property because his daughter posted a...
...Wells Fargo to pay $37m over foreign exchange fraud allegations US government attorneys alleged in a civil complaint filed yesterday that Wells Fargo from 2010 to 2017 overcharged almost 800 commercial clients...
...Capital One, Citigroup, Wells Fargo, Synchrony Financial and Santander You’ve built out a system to manage fraud risk, do you want to do credit risk as well?...
...“Cars are a puzzle as well. Apple might design a better Tesla-type vehicle (and build one, with its $207bn of cash), but what problem would that solve?”...
...(FT) News round-up Al Gore fund to take stake in UK energy supplier Octopus (FT) Blackstone hits jackpot with $5.7bn Cosmopolitan casino sale (FT) Wells Fargo to pay $37m over foreign exchange fraud...
...Other former JPMorgan colleagues appointed by Mr Scharf to new roles at Wells Fargo include Scott Powell, chief operating officer; Ray Fischer, who leads Wells Fargo’s card business; and Bill Daley, the...
...Or look at the action of banks. This week JPMorgan Chase, Wells Fargo and Citi set aside a record $28bn for bad loans, more than expected....
...Wells Fargo’s new chief executive, Charlie Scharf, has hired a fourth former JPMorgan Chase banker to a senior executive role at the San Francisco-based bank, as part of a larger reshuffle of leadership...
...This is not a normal recession.” Provisions were higher in the US than in Europe, with more than $57bn across JPMorgan, Wells Fargo, Citigroup and Bank of America alone....
...He said he expected dividend payments to largely be flat overall this year, and a dividend cut is already factored into Wells Fargo’s share price....
...“He’s still in that honeymoon period — but while [he] is new, investors have been dealing with the degradation in Wells Fargo’s profits for a long time,” said Scott Siefers, bank analyst at Piper Sandler...
...But a lengthy cycle of loan losses and business failures remains a legitimate risk scenario (just look at the initial reaction to the results from Wells Fargo)....
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