Hints and tips:
...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’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....
...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....
...The Wells Fargo Investment Institute has five hot ideas for your portfolio this year....
...Fargo Q3 World events Finally, here is a rundown of other events and milestones this week....
...“It is not the ideal solution,” said Mike Mayo, a banking analyst at Wells Fargo, who had pushed Citi to exit Banamex....
...“F.E.E.L.I.N.G.C.A.L.L.E.D.L.O.V.E” and “Sorted for E’s & Wizz” were ticked off like rites of passage from someone moving from Sheffield outsider to Britpop in-crowd....
...It is a weekend well-worth the 2h drive from town — if you’re lucky enough to score tickets....
...Fargo analysts wrote on Monday....
...“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 analyst Mike Mayo said the possible $6bn to $8bn sale price was not going to get investors excited, but that quick approval of any deal from regulators was valuable....
...Analysts estimate JPMorgan Chase, Bank of America, Citigroup and Wells Fargo to report collective net interest income for the final three months of 2022 of almost $60bn, up 30 per cent year on year, according...
...“Runaway inflation is a more significant risk [than the pandemic],” said Nicholas Bennenbroek, international economist at Wells Fargo....
...There hasn’t been a lot of loan growth, which is kind of what a lot of the Main Street lenders like Bank of America, Wells Fargo, JPMorgan rely on to boost their revenue....
...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?...
...The EU has gone through a decade of demand stagnation, performing well below its productive potential....
...Or look at the action of banks. This week JPMorgan Chase, Wells Fargo and Citi set aside a record $28bn for bad loans, more than expected....
...(FT) Earnings Bank of America and Goldman Sachs follow JPMorgan Chase, Citigroup and Wells Fargo last week and report fourth-quarter earnings on Tuesday. Netflix publishes results after markets close....
...This is not a normal recession.” Provisions were higher in the US than in Europe, with more than $57bn across JPMorgan, Wells Fargo, Citigroup and Bank of America alone....
...Beyond rate cuts, Asian central banks have done more to ease liquidity shocks, from Bank Indonesia buying government bonds to the Bank of Thailand creating a corporate bond fund....
...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....
...The display promises to whet the appetites of international collectors for whom Kumar may be a less familiar name than peers such as M.F. Husain and F.N. Souza....
...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?”...
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