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Wells Fargo & Co

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  • June 2- Chevron Corp has deployed robots on the seafloor near its Big Foot deepwater oil project, aiming to find just how much damage it must contend with after six giant tendons sank and indefinitely delayed the start of production at the platform. The site, 225 miles south of New Orleans in the U.S. Wells Fargo analyst Roger Read said on Tuesday the setback was "...

  • OMAHA, Neb.— Berkshire Hathaway's NetJets unit rehired two longtime executives to lead the company in the midst of an ongoing contract dispute with its pilots union. NetJets, which sells partial ownership interests in business jets, said Monday Jordan Hansell is stepping down as chairman and CEO. A group of NetJets pilots protested outside Berkshire...

  • NEW YORK, May 31- General Electric Co has launched the sales process for a roughly $40 billion portion of its U.S. commercial lending assets as a part of its broad retreat from its finance businesses, sources familiar with the situation said on Sunday. Toronto-Dominion Bank, CIT Group Inc, Ally Financial Inc and Wells Fargo& Co are among the potential bidders for the...

  • High-yield bond funds: Love them or leave them? Friday, 29 May 2015 | 2:07 PM ET

    NEW YORK— Don't know what to make of the junk-bond market? One month, dollars are flooding into junk-bond mutual funds and exchange-traded funds. But skittishness has been particularly high, with $9.3 billion fleeing junk-bond funds in December only for $9.6 billion to go right back in two months later.

  • This stock is no longer in the Top 20 most held Friday, 29 May 2015 | 11:51 AM ET
    Traders work on the floor of the New York Stock Exchange.

    New data provided to CNBC from eVestment shows the most popular stocks held by institutional funds.

  • Kovacevich: US should have a 3% economy, but ... Friday, 29 May 2015 | 8:33 AM ET
    Richard Kovacevich, former chairman and CEO at Wells Fargo.

    The U.S. economy should be growing much faster, but the country has the wrong mix of fiscal and monetary policies, Richard Kovacevich tells CNBC.

  • Bolan, because it ends the SEC case against him while permitting him to go back to work immediately, "he said. The settlement was reached on the eve of a trial before an SEC administrative law judge over charges the SEC first leveled against Bolan and Ruggieri in September. The SEC had alleged that Ruggieri, who worked at Wells Fargo in New York, in 2010 and 2011 traded...

  • NEW YORK— U.S. stocks fell slightly Thursday, following a sell-off in the Chinese market and continued worries about the approaching debt payment deadline for cash-starved Greece. In corporate news, chipmakers Avago Technologies and Broadcom agreed to merge in a $37 billion deal. Both stocks had jumped sharply Wednesday— Broadcom by 22 percent and Avago by 8...

  • NEW YORK, May 27- Long before the phrase "robo-adviser" existed, Sunnyvale, California- based Financial Engines was cornering the untapped 401 plan market with computer simulations to help people save for retirement. To hang onto those investors- and find others- Financial Engines is planning to go up against other so-called "robo-advisers," companies that use...

  • May 21- Financial Engines is close to a deal to add its online investment advice to Wells Fargo& Co's retirement platform, according to a Wells presentation obtained by Reuters, news that boosted Financial Engine's stock more than 6 percent. The move would make Financial Engines' service available to the 3.8 million 401 participants on Wells' 401 record-keeping...

  • May 21- Wells Fargo& Co., the fourth-largest U.S. bank in assets, is planning to add Financial Engines' online advice offering to its retirement platform, according to a Wells Fargo presentation obtained by Reuters. The move would make Financial Engines' online advisory service available to the 3.8 million 401 participants on Wells' 401 record-keeping platform,...

  • Hewlett-Packard sells stake in Chinese unit for $2.3B Thursday, 21 May 2015 | 8:39 AM ET

    NEW YORK— Hewlett-Packard is selling a controlling stake in its China server and storage unit, a move that comes as the Chinese government, apparently worried about U.S. cyberspying, has encouraged the use of local companies. "Partnering with Tsinghua, one of China's most respected institutions, the new H3C will be able to drive even greater innovation for China,...

  • Survey: Minority-owned businesses face loan obstacles Thursday, 21 May 2015 | 12:02 AM ET

    NEW YORK— Minority businesses have a harder time getting bank loans than small companies in general, according to a survey released Thursday by Wells Fargo& Co. and the polling company Gallup. The survey found most business owners don't struggle to get credit, but it also shows disparities between the borrowing experiences reported by minorities and by...

  • May 20- U.S. healthcare conglomerate Johnson& Johnson said on Wednesday it expects to submit more than 10 new medicines with annual revenue potential of at least $1 billion each to regulators by 2019, and is testing dozens of new uses for existing medicines. J&J said it would file for approval of daratumumab for the blood cancer multiple myeloma in the United...

  • Beware of bond bubble forming in ETFs Wednesday, 20 May 2015 | 2:08 PM ET
    Traders work on the floor of the New York Stock Exchange.

    Should you invest in fixed income when corporations are all too eagerly selling new bonds in staggeringly large amounts? Likely not.

  • NEW YORK, May 20- U.S. healthcare conglomerate Johnson& Johnson said on Wednesday it expects to submit more than 10 new medicines with annual revenue potential of at least $1 billion each to regulators by 2019, and is testing dozens of new uses for existing medicines. J&J said it would file for approval of the experimental drug daratumumab for the blood cancer...

  • May 20- Shares of Black Knight Financial Services Inc, a provider of software and services to the mortgage industry, rose as much as 9.2 percent in their market debut on Wednesday, valuing the company at about $4 billion. Black Knight raised about $441 million after its IPO was priced at $24.50 per share, near the top end of the expected range of $22- $25.

  • $34 at a time, banks racked up $2.5B in overdrafts Tuesday, 19 May 2015 | 4:23 PM ET
    A customer at a Wells Fargo branch in New York.

    Three of the largest U.S. banks alone collected in the first quarter more than $1.1 billion related to overdrafts.

  • May 19- The S&P 500 wavered on Tuesday afternoon as Wall Street digested U.S. housing data that some saw as hopeful for an economy struggling to grow. "It continues to be this Goldilocks scenario of slow modest growth and low inflation," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York. At 2:44 p.m., the Dow Jones industrial...

  • LOS ANGELES, May 18- San Bernardino's council approved a bankruptcy exit plan on Monday night that seeks to virtually eliminate the southern California city's pension bond debt while paying Calpers, the state pension system, in full. The Luxembourg- based bank EEPK, holder of the $50 million pension obligation bonds, Ambac Assurance Corp, which insures a portion...