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...But only a handful including Barclays and Wells Fargo include lending and capital markets activities in their target for cutting their carbon footprints from the oil and gas sector on an absolute basis as...
...a token title....
...Workers at a Wells Fargo bank branch in Albuquerque on Wednesday voted to form a union, making them the first employees of a major US bank to unionise in the latest sign of the resurgence of the labour movement...
...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....
...Profits at US bank Wells Fargo fell in the first quarter, in a sign that the benefits of high interest rates are waning for the big lenders....
...Aviva is re-entering Lloyd’s of London for the first time in more than two decades to boost its exposure to the thriving commercial insurance market....
...JPMorgan, Bank of America, Citigroup and Wells Fargo all reported quarterly earnings on Friday. JPMorgan was alone among the group in posting record net profits for the year of $49.6bn....
...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 said in a statement: “Compensation decisions are based on performance, and we stand behind our decisions in this matter.”...
...Wells Fargo has been gradually lowering its headcount this year — eliminating 12,000 positions in the first nine months of 2023 — but the severance cost announcement probably indicates a further rise in...
...Key economic and company reports Here is a more complete list of what to expect in terms of company reports and economic data this week....
...French telecoms company Orange shocked the market in 2016 when it bought a majority stake in a bank, to muscle in on Europe’s financial sector....
...British bank HSBC and US lender Wells Fargo are bucking that trend, having partnered in 2021 to use blockchain to settle foreign exchange transactions between them....
...Galicia will acquire the entire HSBC Argentina business, including banking, asset management and insurance, HSBC said....
...Earnings at Wells Fargo jumped 9 per cent in the fourth quarter, despite an increase in loan loss provisions, as the US bank cut costs....
...What many don’t realise is that, legally, all money held in a joint bank account is owned by anyone named as an account holder....
...Citi and Wells Fargo also recorded drops in lending. The pullback in lending hit JPMorgan Chase particularly hard....
...The Bank of Mexico on Thursday cut interest rates for the first time in this cycle, making it the latest major Latin American central bank to begin lowering borrowing costs....
...Microsoft has hired the co-founder of Google’s DeepMind, the Bank of Japan raised interest rates for the first time since 2007, and leading European and UK artificial intelligence start-ups have been lobbied...
...JPMorgan Chase, Bank of America, Wells Fargo and Citigroup collectively made $253bn in net interest income (NII) for the whole of 2023 — a 19 per cent jump from 2022’s total....
...The index, which tracks the proportion of lenders reporting an increase in demand for home loans versus those reporting a decrease, rose to 35.9 in the first quarter, according to the Bank of England’s quarterly...
...The US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...In a statement, HSBC said it was pleased to resolve the matter: “The PRA’s final notice recognises the bank’s co-operation with the investigation, as well as our efforts to fully resolve these issues....
...“We need to show that we’re more effective, that we’re having more impact, that we’re using every dollar in the best way,” he said in an interview....
...Bank earnings season has been boring so far. But don’t let that fool you. We’re still living in interesting times. One good read American big-box store sells lots and lots of small bits of metal....
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