Hints and tips:
...The businessman is the youngest son of the late Onsi Sawiris, who founded a construction company in the 1950s and built it over decades into a large multinational corporation now called Orascom Construction...
...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 alone said it spent more than $1bn on unexpected job cuts in the fourth quarter....
...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 US has eight G-SIBs: JPMorgan, Citigroup, Bank of America, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, State Street and Wells Fargo....
...Wells Fargo last month said it was setting aside $1bn for severance costs in the fourth quarter....
...Last year, Wells Fargo signed a deal to lend billions to a new credit fund run by Centerbridge, a $40bn private equity firm that led the buyouts of restaurant chain P.F....
...In 2021, JPMorgan leapfrogged Wells Fargo as the bank with more branches than any other in the US....
...The average reserves at JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs and Morgan Stanley have fallen from $1.60 to 90 cents for every dollar of commercial real estate debt on which...
...Earnings at JPMorgan Chase, Bank of America, Wells Fargo and Citigroup were up 23 per cent according to BankRegData, which collates quarterly reports from lenders to the Federal Deposit Insurance Corporation...
...BlackRock, Citigroup, JPMorgan Chase, Wells Fargo, BNY Mellon and Bank of America will all report fourth-quarter figures on Friday....
...Wells Fargo has lowered its earnings per share estimates for the sector by 2 per cent this year and 5 per cent next year. Morgan Stanley has cut its forecasts by 3 per cent next year....
...Dynarisk’s Martin said more companies were at risk — other data sets he had seen traded recently included credentials for employees at more than 500 other companies, including those at Wells Fargo, WPP,...
...Wells Fargo has named Doug Braunstein as a vice-chair. He has previously been a senior investment banker and executive at JPMorgan....
...Wells Fargo says its net interest spread is 3.1 per cent, but it would be 2.39 per cent without the non-interest liabilities, of which $383bn are deposits....
...They left their battery-powered Moon buggy behind, as well as the detritus of various scientific experiments that they carried out during their stay, and an assortment of litter....
...Net interest income in the quarter rose 16 per cent from a year ago to nearly $14bn, compared with 44 per cent and 29 per cent at JPMorgan and Wells Fargo, respectively....
...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....
...Wells Fargo has named Frederick Terrell as vice-chair of investment banking, based in Los Angeles. He joins from Centerbridge Partners....
...“Issuers are trying to stay shorter on the curve because absolute rates are so much higher,” said Maureen O’Connor, head of Wells Fargo’s investment-grade syndicate....
...JPMorgan, Citi and Wells Fargo report earnings on Friday followed by BofA and Morgan Stanley on July 18 and Goldman Sachs on July 19....
...Shares in the four largest US banks, JPMorgan, Citigroup, Bank of America and Wells Fargo, were down between 0.42 and 0.98 per cent. Read Robert Armstrong’s take on the fate of First Republic here....
...“It’s now experiencing some well-deserved attention.” Tourism has boomed in the city....
...Three other mega caps — Bank of America, Wells Fargo and Morgan Stanley — are among the largest 10 banks in the world by market value....
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