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....
...The only former Wells Fargo executive criminally charged over the bank’s 2016 fake accounts scandal, will be sentenced in federal court in California today....
...[MUSIC PLAYING] Big US banks will start reporting earnings on Friday. JPMorgan Chase, Wells Fargo and Citigroup will all release quarterly reports....
...Wells Fargo has hired Citigroup’s Clayton Hale as co-head of equity capital markets alongside Jill Ford, who joined the bank earlier this month from Credit Suisse. Hale will join in New York....
...Wells Fargo has hired Credit Suisse investment banker Jill Ford as head of its equity capital markets business, per Bloomberg. Chelsea Football Club has appointed Chris Jurasek as its new CEO....
...As a result, Wells Fargo analysts downgraded General Motors and Ford, as the US companies would “likely be forced to sell money-losing compliance [battery electric vehicles]”, to meet ever-stricter regulatory...
...Top US bank investors refuse to back climate proposals Investors refused to back resolutions demanding stricter fossil fuel financing policies at Wells Fargo, Bank of America and Citi yesterday, in a blow...
...Wells Fargo to pay $37m over foreign exchange fraud allegations US government attorneys alleged in a civil complaint filed yesterday that Wells Fargo from 2010 to 2017 overcharged almost 800 commercial clients...
..., United Airlines, UnitedHealth Group, Walmart, and Wells Fargo....
...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....
...A retail manager in the city gestures angrily towards the Wells Fargo building by the river and says it took them a year to reopen their doors. Wells Fargo did not respond to a request for comment....
...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?...
...veteran policymaker Benoît Coeuré of the Bank for International Settlements in a speech on Friday....
...He joins from Wells Fargo. Weil, Gotshal & Manges has hired Andrew Morris as a partner in its global tax practice, based in New York. He joins from the New York office of Linklaters....
...Wells Fargo Sector: BANKS / HQ: SAN FRANCISCO, US Wells Fargo hoped for a fresh start after years of scandals when it appointed Charlie Scharf as chief executive in late 2019, but turnround efforts took...
...The latest move to address shortages could involve approving Russia’s Sputnik V inoculation....
...Provisions were higher in the US than in Europe, with more than $57bn across JPMorgan, Wells Fargo, Citigroup and Bank of America alone....
...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....
...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....
...How well did you keep up with the news this week? Take our quiz....
...As a result, the prospects for a V-shaped recovery have brightened....
...(FT) Exclusive: Wells Fargo to cut consultancy spend Wells Fargo is targeting dramatic cuts to its spending on consultants as the bank’s outlay on firms including McKinsey, PwC and Oliver Wyman reached...
...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)....
...Wells Fargo pays more, and JPMorgan and Bank of America not much less. That may not be a great reassurance when the duration of the shutdown is uncertain. But there is another reason for hope....
...Bank of America, Citigroup and Wells Fargo together provided another $1.2tn of lines, while Morgan Stanley and Goldman Sachs had a combined $260bn, regulatory filings show....
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