GE is in early-stage talks with Wells Fargo about selling its entire $74 billion US commercial lending and leasing portfolio, according to a source.» Read More
Warren Buffett tells shareholders that "I would love to buy all of US Bancorp or I would love to buy all of Wells Fargo, if we were allowed to do it."
Today is the official start of a new policy at Fannie Mae and Freddie Mac, to only buy loans that were appraised under the Home Valuation Code of Conduct. The HVCC was the outgrowth of a lawsuit filed by New York Sate Attorney General Andrew Cuomo against Washington Mutual and was designed to “improve the reliability of home appraisals,” according to FHFA, Fannie and Freddie’s regulator.
The Dow, Nasdaq and S&P 500 had their best April in years — and financial stocks were the best of the best. So what's next for banks? David Faber reports.
Stock futures are set to begin May just slightly higher this morning. This comes off the heels of one of the best months in several years for the S&P 500. Most European bourses are closed today due to the May Day holiday.
They say the truth shall set you free. Well, it looks the banks are going to be really free.
Art Cashin, UBS Financial Services director of floor operations, offered CNBC his take on Wednesday's market.
You know all those parallels being drawn between our recession and Nippon’s “Lost Decade”? Hogwash.
It seems that all the market wants to do is climb higher? How much longer can it keep that up?
Tomorrow, in Charlotte, the Quail Hollow Championship will tee off. It was once called the Wachovia Championship, but because of public pressure put on banks receiving TARP money to cut extraneous expenses, the bank’s owner, Wells Fargo, decided it was easier to just generically name the tournament after the club where the event is played.
Multimillion-dollar compensation packages. Private jets. Hormones in milk. Plastic water bottles. Chemicals in baby products. High credit card rates. Retention bonuses. .....Each is a symbol – a shorthand representation of a much larger ideological perspective. Each tells a story without having to say a word.....For better or worse, symbols now dominate the debate.
As Washington pushes banks to mend their finances, the banks are pushing back.
In this Web Extra you'll find the day's biggest winners and losers. Find out why shares of CVS and Visa popped while Wells Fargo and Rio Tinto dropped.
Few things have dominated the headlines like Barack Obama's agenda to fix America’s banks. Hopefully you can swim because we’re looking at a tidal wave of change.
Art Cashin, UBS Financial Services director of floor operations, offered CNBC his take on Tuesday's market: The stress tests of the financials; the economic impact of Swine Flu; and yesterday's frightening public-relations error by the Air Force over the skies of NYC.
For the last 4 weeks, we've had a series of earnings releases and economic numbers that had upside surprises and helped increase investor confidence in equities and in currency risk trades.
Citigroup is discussing its capital levels with the Obama administration — but the financial giant doesn't expect to need more government assistance, reports said Tuesday. But speculation continues to swirl around Citi and Bank of America. See David Faber's report here.
Concerns that the recent outbreak of swine flu could reach pandemic proportions dragged down the Dow and S&P Monday with investors hammering airlines, hotels and more.
Analysts are turning the spotlight on a handful of major regional banks that they reckon may be the next weak links in the financial industry, the New York Times reports.
Stocks ended higher Friday after better-than-expected results from Ford but ended lower for the week, snapping a six-week winning streak. recovered Friday after a drop triggered by the release of the bank stress-test results.
Stocks rallied on Friday as earnings showed companies have weathered the recession and economic data raised hopes the economic cycle may have hit a bottom.