Hints and tips:
...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....
...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 vice-chair of public affairs William Daley, the White House chief of staff to former president Barack Obama, will retire at the end of this year....
...It relies on well-trained staff as quality cannot be compromised. London’s restaurants are integral to the appeal of the city for tourists and those who choose to live and work here....
...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?...
...How well did you keep up with the news this week? Take our quiz....
...This week JPMorgan Chase, Wells Fargo and Citi set aside a record $28bn for bad loans, more than expected. This shows they fear a wave of corporate and consumer bankruptcies....
...V. A month in, the occupation in Zuccotti Park — or Liberty Plaza — was becoming more permanent. Problems were emerging too....
...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....
...Provisions were higher in the US than in Europe, with more than $57bn across JPMorgan, Wells Fargo, Citigroup and Bank of America alone....
...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)....
...The day before, Sputnik V, a Russian vaccine made by the Gamaleya Institute, showed 92 per cent efficacy against symptomatic Covid, according to preliminary data published in the Lancet....
...“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....
...It has greater proximity to western markets, the EU’s legal and regulatory frameworks, a well-educated, multilingual workforce and good infrastructure....
...“We are all here to help,” said Charlie Scharf of Wells Fargo. That is good, but Mr Trump is not in a position to compel them to....
...Since 2016, when US regulators revealed that Wells Fargo had opened millions of unauthorised accounts, nine of 14 members of the bank’s board of directors have stepped down, and the chief executive has changed...
...(Reuters, FT) JPMorgan and Wells Fargo earnings Earnings season kicks off on Tuesday with two of the biggest US banks giving investors the best impression yet of how the pandemic is weighing on the financial...
...Wells Fargo, where profits fell 90 per cent, did the same. Johnson & Johnson, the drug and consumer products group, managed to raise its dividend but cut its guidance for the year....
...Saudi Aramco has hired Wells Fargo banker Robert Fernandez to manage its relationship with banks after the oil company completed the world’s biggest share sale....
...Reports were also due from Goldman Sachs, Wells Fargo and Citigroup, which will set up a wholly owned securities business in China....
...Wall Street’s big six — JPMorgan Chase, Bank of America, Goldman Sachs, Wells Fargo, Citigroup and Morgan Stanley — last gave guidance to investors at their second-quarter earnings in July, when most envisaged...
...Job moves Wells Fargo has appointed Barack Obama’s former White House chief of staff Bill Daley as vice-chairman of public affairs to lead its dealings with politicians and the public, as the embattled...
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