Hints and tips:
...Upbeat first-quarter earnings from JPMorgan Chase, Citigroup and Wells Fargo on Friday underscored how a number of bank collapses in the US in March had benefited the biggest lenders as customers sought...
...“I fear this is going the way of the Wells Fargo scale of scandal,” the person said, referring to the US bank being fined $3bn for fraudulently opening millions of customer accounts....
...Wells Fargo, which has a 9 per cent share of America’s lending market, said it could only lend $10bn under the programme because of an asset cap imposed on the bank as a result of its 2016 accounts mis-selling...
...On Wall Street, the S&P 500 rose 1.45 per cent to 2,073.07. JPMorgan and Wells Fargo lifted their respective lending rates on the increase....
...It raised $20m in its latest round of funding, where investors included Wells Fargo & Co and Mexican businessman Carlos Slim. 21....
..., Wells Fargo, Goldman Sachs and Morgan Stanley would be hit with a levy of 3.5 basis points – or 0.035 per cent, according to Bloomberg News....
...Markets: Asian bourses were decidedly mixed as investors waited for earnings releases from some of the biggest companies in the region as well as more certainty on US monetary policy from the Federal Reserve...
...Earnings JPMorgan Chase Q3 $1.29 ($1.51) Wells Fargo Q3 $0.97 ($0.88) Results forecasts, from Thomson Reuters, are for fully diluted, post-tax EPS in local currency for the stated fiscal period....
...Indeed, numbers from the central bank show that household debt is approaching its long-term trend level as the deleveraging process has reduced the excesses of the credit and mortgage bubble....
...Emerging Markets MSCI Emerging Market Index up +1.93% at 994.76 Europe FTSE down -0.02% at 5,130 RTF up +2.91% at 1,643 Wig Index up +0.52% at 39,983 FTSE 300 Eurotop up +0.87% at 926.99 Americas DJIA...
...The capital of these banks is shared by the Central Government, sponsor banks and State Governments. The banks were last capitalised in 2006-07....
...Wells Fargo was one of the few fallers, as investors worried about how dilution following the banks’ announcement it would issue $6bn in common equity to pass the test....
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