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....
...The Wells Fargo Investment Institute has five hot ideas for your portfolio this year....
...The latest bank looking to crack into private credit is Citigroup. It follows the likes of JPMorgan Chase, Barclays, Rabobank, Wells Fargo, Société Générale and Deutsche Bank....
...Malaysia became a well-oiled machine in the packaging assembly and testing of chips, until recently considered a fairly low-end, labour intensive but necessary part of the semiconductor manufacturing supply...
...(FT) Allen & Overy rolls out AI contract negotiation tool in challenge to legal industry (FT) Wells Fargo branch workers vote to form union in a first for major US bank (FT) Barclays agrees deal to stay...
...Fargo Q3 World events Finally, here is a rundown of other events and milestones this week....
...“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....
...BlackRock doubled the size of its Singapore office in 2022, while Wells Fargo shifted its Asian hub from Hong Kong to Singapore the year before....
...It is a weekend well-worth the 2h drive from town — if you’re lucky enough to score tickets....
...Fargo analysts wrote on Monday....
...Environmentalists face impasse on fossil fuel phase-out vs disclosure Shareholders at Bank of America, Citigroup, Wells Fargo and Goldman Sachs this week voted on petitions asking the banks to phase out...
...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...
...Within insurance, its applications go well beyond motor. Zurich’s Chan highlights home insurance, where image analysis is helping insurers to be more proactive in spotting risks coming down the track....
...Miners’ troubles show need for climate ‘bad banks’ Just as financial institutions turned to bad banks to manage toxic assets in the aftermath of the financial crisis, miners need a way to quarantine theirs...
...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?...
...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....
...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....
...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....
...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?”...
...Across their overall books senior executives at Bank of America, Wells Fargo and US Bank have publicly said that between 25 per cent and 40 per cent of those who were granted forbearance continued making...
...In the US, $9.5bn of credit charges — including loan loss provisions — pushed Wells Fargo to a $2.4bn loss, while profit fell more than 50 per cent at Citi, Bank of America and JPMorgan....
...“We’re here to help,” said Brian Moynihan of Bank of America. “We are here to help,” said Michael Corbat of Citigroup. “We are all here to help,” said Charlie Scharf of Wells Fargo....
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