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...The second-biggest cutter of 2023 was Wells Fargo, which this month revealed it had lowered its global headcount by 12,000 to 230,000....
...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....
...The vast majority are local minnows with fewer than $10bn in assets. In 2021, JPMorgan leapfrogged Wells Fargo as the bank with more branches than any other in the US....
...And here’s what I’m keeping tabs on today and over the weekend: Results: Several large US banks report annual results today, including Citigroup, JPMorgan Chase, Wells Fargo and Bank of America....
...Western investors can bid for them from June 3 using funds from “type C” accounts, which are not usually allowed to be transferred outside Russia, although it is not clear whether western regulators will...
...Some of the world’s biggest banks — Morgan Stanley, Wells Fargo and Bank of America — are all reportedly lining up to get involved in bitcoin, too....
...Profits at Wells Fargo fell from $5bn to $4.6bn. Private equity pioneer KKR is predicting a revival in global IPOs and takeover activity after a two-year slowdown....
...Here’s what else I’m keeping tabs on today: Earnings: The major US banks begin reporting earnings today, with JPMorgan, Citi and Wells Fargo all updating investors....
...Credit card transactions rose 8 per cent in the quarter at Citi. Both JPMorgan and Wells Fargo lowered, from the previous quarter, the amount of money they put away for potential loan losses....
...The German central bank has burnt through the entire €19.2bn of provisions it built up to cover financial risks as well as most of its €3.1bn reserves to absorb the huge losses it made last year due to higher...
...In 2017, Best joined Elliott as the hedge fund sought to build out a private equity strategy....
...In the past year delinquent commercial property debt for the six big banks — JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley — nearly tripled to $9.3bn....
...I did a little “whoop” when I won £200 this month, but I’m sad about the prize fund rate dropping from 4.65 per cent to 4.40 per cent in March....
...The figures create a challenging backdrop for Jeremy Hunt as he considers slashing billions of pounds from public spending plans in next month’s Budget to fund pre-election tax cuts....
...Read the full FT analysis, including the biggest cutters, from Wells Fargo to JPMorgan Chase. Five more top stories 1....
...Wells Fargo has hired Derek Van Zandt from Citigroup to lead media and telecommunications banking, Bloomberg reported....
...Those days, like my 32-inch waist, are sadly long in the rear-view mirror. Today, the index ROIC is struggling to hang on in the 3-4% range....
...The funds have long received financing from Wall Street banks and used it to turbocharge their investing capacity....
...Police in Italy and several other European countries arrested 22 people and seized assets worth €600mn in connection with alleged fraud involving the EU’s post-pandemic recovery fund....
...Persefoni last year said it had raised millions from TPG Rise, the impact fund of the private equity firm TPG....
...The move is the latest attempt by JPMorgan to beef up its legal wealth management business after two decades of trying to break the grip of Citi in New York, as well as that of Wells Fargo, which dominates...
...Banks: Wall Street banking giants JPMorgan Chase, Citigroup and Wells Fargo will report second-quarter earnings....
...Chart of the day Results from four of the US’s largest banks on Friday — JPMorgan Chase, Bank of America, Citigroup and Wells Fargo — showed their lending businesses benefited significantly from higher...
...NS&I easy-access savings accounts currently offer an annual equivalent rate of 3.65 per cent. These rates can go up or down and the interest is taxable....
...Of the Big Six banks, Citigroup, Goldman Sachs, Wells Fargo and Morgan Stanley are all expected to report a drop in their earnings per share this quarter. JPMorgan will be the exception....
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