Hints and tips:
Related Special Reports
...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....
...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....
...Wells Fargo shares closed 1.4 per cent lower in New York on Tuesday, as the S&P 500 dropped 0.1 per cent....
...Wells Fargo said in a statement: “Compensation decisions are based on performance, and we stand behind our decisions in this matter.”...
...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....
...A source close to Wells Fargo said that some of the cuts would not happen until sometime in 2024....
...Organisers say that workers at several of Wells Fargo’s corporate offices are also interested in forming unions. The votes cover a very small fraction of Wells Fargo’s overall workforce....
...But it jumped 34 per cent at JPMorgan to $89.7bn, more than double the increase of the next bank, Wells Fargo, which reported a 16.5 per cent rise....
...Bank of America, Barclays, Citigroup, Jump Trading, JPMorgan Chase, Morgan Stanley, Tower Research Capital and Wells Fargo are also investing in FMX....
...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....
...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 reported a 60 per cent increase in profits in the third quarter, as the bank continues to benefit from higher interest rates....
...Wells Fargo has partnered with asset manager Centerbridge to launch a $5bn private credit fund that will lend to mid-sized US companies, as banks race to find a toehold in the rapidly growing private credit...
...Wells Fargo has agreed to buy Neiman Marcus’s vacant space at 20 Hudson Yards for $550mn in a deal that underscores the changing fortunes of one of New York City’s largest property developments....
...Please tell us if think the Wells Fargo asset cap will be lifted in the comments section below....
...“There have been many instances of companies selling marginal, non profitable wells with a high liability, to companies that don’t have the deep pockets to clean them up,” said Mary Kang, a professor at...
...Wells Fargo has partnered with asset manager Centerbridge to launch a $5bn private credit fund that will lend to midsized US companies, as banks race to find a toehold in the rapidly growing private credit...
...Tolstedt, the only banker at any level at Wells Fargo who was charged criminally in connection with massive fraud, faced as much as 16 months in prison. In March, in a deal with the U.S....
...Last week, Wells announced that it had hired Thomas Nides, a former top executive at Morgan Stanley, to be its new head of public affairs. Related and Wells Fargo declined to comment....
...The 12 large cap banks followed by Morgan Stanley analysts, including PNC, JPMorgan Chase, Bank of America and Wells Fargo, now have more than $180bn of excess common equity tier one capital — a record high...
...A packed house and sustained cheers greeted São Paulo Dance Company’s UK debut at Sadler’s Wells in London last weekend....
...But banks are finally having to pass on higher savings rates to depositors, according to JPMorgan and Wells Fargo, which also reported earnings....
...So far, so Fargo. And the cavort is performed at the screwball pace of the brothers at their most pointedly silly....
...Wells Fargo bank analyst Mike Mayo said it made sense for banks with healthy levels of capital to return money to shareholders when profits were high....
...Wells Fargo alone said it spent more than $1bn on unexpected job cuts in the fourth quarter....
International Edition