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...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...Bank of America, Barclays, Citigroup, Jump Trading, JPMorgan Chase, Morgan Stanley, Tower Research Capital and Wells Fargo are also investing in FMX....
...Wells Fargo paid nearly $594mn more in fees to depositors in the first quarter of this year than it did in the previous three months....
...Wells Fargo shares closed 1.4 per cent lower in New York on Tuesday, as the S&P 500 dropped 0.1 per cent....
...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 said in a statement: “Compensation decisions are based on performance, and we stand behind our decisions in this matter.”...
...In Texas, local businesses have raised concerns about the state’s “Fair Access” laws, which call for the state and local governments to divest from financial firms that are considered hostile to fossil fuels...
...Those without strong opinions can refer to comprehensive coverage from the FT’s Richard Waters, Stuart Kirk, Sujeet Indap (twice) and Lex, as well as a multi-bylined Q&A....
...Organisers say that workers at several of Wells Fargo’s corporate offices are also interested in forming unions. The votes cover a very small fraction of Wells Fargo’s overall workforce....
...Fargo and JPMorgan....
...Other top banks Citigroup, JPMorgan Chase and Wells Fargo also recorded drops in lending in the first three months of the year as they revealed results late last week....
...Her detailed legal analysis — as well as an in-depth look at the financial plumbing of Musk’s unprecedented pay deal — is the backbone of the specialised Delaware Court of Chancery....
...Wells Fargo alone said it spent more than $1bn on unexpected job cuts in the fourth quarter....
...It also came despite the company hitting 12 out of 16 ambitious financial targets approved by the carmaker’s board when the package was initially approved in 2018....
...He had previously said the Model 2 would require a new “revolutionary manufacturing system” at factories in Austin, Texas, as well as in Mexico....
...Last week, Wells announced that it had hired Thomas Nides, a former top executive at Morgan Stanley, to be its new head of public affairs. Related and Wells Fargo declined to comment....
...“The financial health of our consumers remains strong,” Wells chief executive Charlie Scharf told analysts....
...Chew has proposed multiple alternative measures to a sale for allaying US national security concerns, including the Project Texas plan and a potential American stock market listing of TikTok....
...The backlog is four times larger by value than it was during the global financial crisis. Not all these unsold companies will be duds....
...Milei is a prolific user of X, telling the Financial Times in February that he spends “two or three hours a day” on Musk’s platform and other social media....
...Wells Fargo has partnered with asset manager Centerbridge to launch a $5bn private credit fund that will lend to midsized US companies, as banks race to find a toehold in the rapidly growing private credit...
...Several banks, including Barclays and Wells Fargo, have partnered with asset managers to establish a toehold in private credit....
...as well as supporters in business of diversity, equity and inclusion initiatives....
...Please tell us if think the Wells Fargo asset cap will be lifted in the comments section below....
...Wells Fargo and Wilmington Savings Fund Society are named in the suit having allegedly provided administration services to FCI. They have been contacted for comment. How big a deal might all this be?...
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