Hints and tips:
...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....
...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...
...In the past Australia’s ANZ as well as the likes of Santander or Wells Fargo have been cited as potential buyers....
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...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....
...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?...
...This week JPMorgan Chase, Wells Fargo and Citi set aside a record $28bn for bad loans, more than expected. This shows they fear a wave of corporate and consumer bankruptcies....
...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....
...Provisions were higher in the US than in Europe, with more than $57bn across JPMorgan, Wells Fargo, Citigroup and Bank of America alone....
...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)....
...“I would say that, as a team, we've pretty well discounted a uniform V-shaped recovery. The question is, is it U-shaped, is it W-shaped or parts of it L-shaped?”...
...Across their overall books senior executives at Bank of America, Wells Fargo and US Bank have publicly said that between 25 per cent and 40 per cent of those who were granted forbearance continued making...
...In the US, $9.5bn of credit charges — including loan loss provisions — pushed Wells Fargo to a $2.4bn loss, while profit fell more than 50 per cent at Citi, Bank of America and JPMorgan....
...“We are all here to help,” said Charlie Scharf of Wells Fargo. That is good, but Mr Trump is not in a position to compel them to....
...Since 2016, when US regulators revealed that Wells Fargo had opened millions of unauthorised accounts, nine of 14 members of the bank’s board of directors have stepped down, and the chief executive has changed...
...(Reuters, FT) JPMorgan and Wells Fargo earnings Earnings season kicks off on Tuesday with two of the biggest US banks giving investors the best impression yet of how the pandemic is weighing on the financial...
...Wells Fargo, where profits fell 90 per cent, did the same. Johnson & Johnson, the drug and consumer products group, managed to raise its dividend but cut its guidance for the year....
...Saudi Aramco has hired Wells Fargo banker Robert Fernandez to manage its relationship with banks after the oil company completed the world’s biggest share sale....
...(BBG) News round-up Wells Fargo/Eastdil: private property (FT) Renault investors rush to sign up for carmaker’s annual showdown (FT) Wells Fargo CEO search drags on as two top candidates take a pass...
...Once again, Wells Fargo is in trouble....
...JPMorgan Chase and Wells Fargo report today....
...Fargo Securities on financials; Wachtell, Lipton, Rosen & Katz and Latham & Watkins on the legal; Joele Frank on PR)....
...This month marks a century since the Order of the British Empire was created in its modern form by King George V for those who had served in non-combatant roles in the first world war....
...The winning run extended to television, where Ewan McGregor won best actor in a mini-series for his work in Fargo, which is produced by Fox’s FX channel....
...Picaud will be replaced at Essilor by Hilary Halper, who joined the company only a year ago as head of M&A after previous stints at GlaxoSmithKline, Wells Fargo and Deutsche Bank....
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