By: Stacey Cowley and Michael Corkery
The next group of employees who could lose their jobs are Wells Fargo's board of directors, the NYT reports. » Read More
WASHINGTON, April 24- Wells Fargo& Co has presented the Federal Reserve with a satisfactory plan on how to unwind its business in case of bankruptcy, the U.S. central bank said on Monday. In December, the Fed and Federal Deposit Insurance Corporation notified Wells Fargo that the bank's plan fell short. U.S. taxpayers had to prop up banks that were deemed "too big to...
Wells Fargo has presented the Federal Reserve with a satisfactory plan on how to unwind its business in case of bankruptcy.
WASHINGTON, April 24- Wells Fargo& Co has presented the Federal Reserve with a satisfactory plan on how to unwind its business in case of bankruptcy, the U.S. central bank said on Monday. The resolution plan, or "living will", is required of the nation's largest banks and is meant to help prevent a future financial crisis. In December, the Fed and Federal Deposit...
FEDERAL RESERVE SAYS WELLS FARGO HAS A SATISFACTORY RESOLUTION PLAN, KNOWN AS' LIVING WILL'.
The "Halftime Report" traders tackle a bullish call on KeyCorp and debate the rest of the regional banking sector.
LONDON, April 24- Britain's top share index jumped on Monday as banking stocks surged after centrist Emmanuel Macron came out on top in the first round of France's presidential election. Polls pointed to Macron easily beating Le Pen in the run-off on May 7, calming market fears in light of the UK's Brexit vote and Donald's Trump's election in the United States.
Goldman's weak trading results were due to wrong way bets on the debts of a coal company and struggling retailers, according to Bloomberg News.
If history is any guide, the rally this week may have another 2 percent to go for the S&P 500 with bank stocks leading the way.
TORONTO, April 24- Canada's main stock index rose on Monday morning, boosted by solid gains for banking stocks as investors cheered domestic data and French election results that limited the risk of another core member leaving the European Union. Royal Bank of Canada rose 1.3 percent to C $95.81, Toronto-Dominion Bank advanced 1.3 percent to C $66.48 and Bank of...
LONDON, April 24- Britain's Atom has hired pop star will.i.am as a strategic adviser to its board as the app-based bank seeks to grow. Atom, one of a number of new banks attempting to compete with Britain's high street lenders by offering a faster, mobile-based service, said in a statement on Monday that will.i.am' s knowledge of technology would help it expand.
I think "too big to fail is a real thing" and we need to do more about it, says Brent Beardall, Washington Federal CEO, explaining why does not want to get rid of Dodd-Frank but rather see existing regulations based on risk and not arbitrary thresholds.
Goldman Sachs, Citigroup and other banks with global franchises jump 2 percent in premarket trading following the French election results.
IRVINE, Calif. _ Opus Bank on Monday reported first-quarter profit of $7.7 million. Opus Bank shares have dropped 31 percent since the beginning of the year. Keywords: Opus Bank, Earnings Report.
European banking stocks soared after the first round of French presidential election was won by centrist Emmanuel Macron. But will this rally last?
LONDON, April 24- Britain's top share index jumped on Monday as banking stocks surged after centrist Emmanuel Macron came out on top in the first round of France's presidential election. It delivers some potential upside in terms of what it could mean for Europe going forward, Dean Turner, economist at UBS Wealth Management, said. UK banks jumped 2.4 percent,...
Philippe Bodereau, global head of financials at Pimco, discusses banking sector valuations.
TOKYO, April 24- Brightening global growth prospects will allow Japan's central bank to keep monetary policy steady this week and invest time solving the puzzle of why inflation remains stubbornly low despite a tightening job market and robust economic recovery. And looming geopolitical risks, such as escalating tensions over North Korea, overshadow...
PYONGYANG, North Korea— No modern airport terminal is complete without an ATM, and Pyongyang's now has two. ATMs are an alien enough concept in North Korea that those in the capital's shiny new Sunan International Airport have a video screen near the top showing how they work and how to set up an account to use them. Years ago, the Ryugyong Commercial Bank installed...
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