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...The number of family offices has jumped from a handful in 2018 to 1,100 at the end of 2022, according to the government....
..., with all the vast profits from these partners said to be collected in special bank accounts overseen by a Manila-based lawyer with a YouTube following....
...Wells Fargo Sector: BANKS / HQ: SAN FRANCISCO, US Wells Fargo hoped for a fresh start after years of scandals when it appointed Charlie Scharf as chief executive in late 2019, but turnround efforts took...
...bank’s asset management arm to $1.2bn....
...Dan Neidle, head of tax at law firm Clifford Chance in London, says the problem with turning to supposedly easy tax revenue from the corporate sector is “the numbers don’t easily add up....
...Results from Citigroup and Wells Fargo are available here and here. Go deeper with the Lex column....
...Wells Fargo analyst Mike Mayo, a longtime critic of the bank’s structure, thinks that it should consider selling off parts of the consumer operation....
...Additionally, Bank of America announced last week that it would stop financing private prisons, following in the footsteps of Wells Fargo and JPMorgan Chase which made similar announcements earlier this...
...Citing the “fake account” scandal at Wells Fargo, in which the US bank set up 2m accounts without customer permission, Mr Dudley said: “The most dangerous culture in financial services is when people see...
...The US central bank announced a quarter-point increase in the target range for the federal funds rate to 0.25-0.5 per cent, lifting it from the historic lows it has occupied since December 2008....
...It raised $20m in its latest round of funding, where investors included Wells Fargo & Co and Mexican businessman Carlos Slim. 21....
...Topix down -6.27 (-0.51%) at 1,227 Hang Seng up +60.61 (+0.27%) at 22,378 ASX 200 up +3.16 (+0.06%) at 5,437 US markets S&P 500 down -2.49 (-0.13%) at 1,845 DJIA down -27.48 (-0.17%) at 16,180 Nasdaq down...
...Its leverage ratio stood at 2.1 per cent at the end of the first quarter, the second lowest of 18 banks measured by Morgan Stanley analysts....
...Instead, within weeks he had seized control, controversially spending more than €160m of bank funds to persuade Central Hispano executives José Amusátegui and Angel Corcóstegui to go quietly....
...More than $4bn in bulk cash was also transported from Mexican banks to Wachovia accounts....
...Exports are now above their pre-crisis peak and the current account of the balance of payments is back in surplus. GDP may end up expanding this year by 1 per cent as a result....
...Furthermore, said Kim Whelan, economic analyst at Wells Fargo Securities, “the employment index remained extremely weak, which does not bode well for the non-farm employment figures”....
...Citigroup finished 1.7 per cent higher at $1.22 while Bank of America rose, in spite of being downgraded by S&P, the rating agency. It finished 0.6 per cent up at $3.65....
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