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Wells Fargo & Co

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  • *Q3 North America sales down 24 pct at $493 mln. April 28- Coach Inc reported its worst decline in sales in seven quarters in North America, raising concerns that the handbag and accessories maker's turnaround efforts were failing to gain traction in a highly competitive market. The maker of Poppy handbags has been losing out to newer entrants such as Michael Kors...

  • Bank stocks stink, so time to buy banks? Tuesday, 28 Apr 2015 | 10:18 AM ET
    Traders work the floor of the New York Stock Exchange.

    A funny thing has been happening to financials: while earnings have been stellar, their stocks have stunk.

  • LONDON, April 27- Deutsche Bank's plan to jettison much of its German retail bank and withdraw from one in ten countries sees it join a growing list of banks choosing to shrink and simplify to survive. HSBC has already sold or shut 77 businesses and could yet dispose of big operations in Brazil or Turkey. Credit Suisse's incoming CEO Tidjane Thiam is expected to cut...

  • Correction protection. 3 best Street ideas on week Saturday, 25 Apr 2015 | 7:00 AM ET
    Traders work on the floor of the New York Stock Exchange.

    CNBC Pro highlights the three best strategy notes that came across our desk this week.

  • April 24- SunTrust Banks Inc, Apollo Global Management and Ares Management LP are considering offers for buying General Electric Co's unit that lends to private-equity firms in the United States, Bloomberg reported, citing people with knowledge of the matter. GE is working with Citigroup Inc to sell the business, which is expected to be worth $10 billion, the...

  • NEW YORK, April 24- Teva Pharmaceutical Industries' bid for Mylan NV would create a company controlling nearly 25 percent of the U.S. generics market, including drugs in short supply, according to industry experts and a Reuters review of regulatory filings. It is also pursuing a hostile takeover of drugmaker Perrigo Co Plc. Teva has already looked at the...

  • LONDON, April 24- Deutsche Bank's expected move to sell much of its retail banking business will see it join a growing list of banks choosing to shrink and simplify to survive. HSBC has already sold or shut 77 businesses and could yet dispose of big operations in Brazil or Turkey. Credit Suisse's incoming CEO Tidjane Thiam is expected to slash trading operations...

  • unit of Wells Fargo& Co, added eight advisers from Morgan Stanley and brokerage firm Edward Jones. G. "Carey" Revels, Craig Goldberg and Jonathan Zucker joined Wells Fargo Advisors from Morgan Stanley. Revels managed more than $108 million in client assets at Morgan Stanley and joined Wells Fargo's Hattiesburg, Mississippi office.

  • April 22- Wells Fargo Advisors, the brokerage unit of Wells Fargo& Co, hired a team of two advisers from Barclays Capital, part of Barclays Plc, at the firm's Madison Avenue branch in Manhattan. Michael Blaustein and Maureen Clancy, who form the Blaustein Clancy Financial Group, managed more than $650 million in client assets at Barclays. The team will focus on high...

  • This credit card issuer named best for small biz Wednesday, 22 Apr 2015 | 10:38 AM ET
    small business credit card

    Every major credit card company uses personal credit data to determine whether a business is eligible for a credit card, a CardHub study finds.

  • U.S. regulator wants better deposit data from big banks Tuesday, 21 Apr 2015 | 10:00 AM ET

    WASHINGTON, April 21- The largest U.S. and foreign banks would need to keep track of deposits better under a plan launched by the Federal Deposit Insurance Corporation on Tuesday, as many lenders have grown and become more complex. It said the FDIC "has often found inconsistent and missing data" in the current records, which the banks need to provide because of an...

  • Securities and Exchange Commission Administrative Law Judge Jason Patil delivered the warning to SEC lawyers after hearing arguments in a civil proceeding against Joseph Ruggieri. Ruggieri, who traded healthcare stocks for Wells Fargo, is accused by the SEC of unlawfully trading on tips about imminent upgrades and downgrades in the ratings of various...

  • April 20- Perfume maker Coty Inc said Elio Sceti, the chief executive of Europe's largest frozen foods company Iglo Foods Holdings Ltd, would join the company as CEO in July. Shares of Coty, which makes perfumes for fashion brands such as Calvin Klein and Marc Jacobs, rose as much as 3 percent to a record high of $25.72. "Sceti appears to be exactly the type of candidate...

  • April 20- General Electric Co is in early-stage talks with Wells Fargo& Co about selling its entire $74 billion U.S. commercial lending and leasing portfolio to the bank, according to a source familiar with the situation. GE and Wells Fargo declined to comment. The talks with Wells Fargo underscored GE's urgency in looking to dismantle its GE Capital business and...

  • GE in talks to sell $74 bln portfolio to Wells Fargo Monday, 20 Apr 2015 | 12:19 PM ET

    April 20- General Electric Co is in early-stage talks with Wells Fargo about selling the bank its entire $74 billion U.S. commercial lending and leasing portfolio, according to a source familiar with the situation. The source asked not to be identified because the talks are confidential. GE and Wells Fargo declined to comment.

  • These 6 'profit machines' churn out cash Monday, 20 Apr 2015 | 10:23 AM ET
    Printing money

    Six companies belonging to the S&P 500, including Home Depot and Wells Fargo, recorded higher profits for the past five years. USAToday reports.

  • Value? Where? Stocks keep giving sticker shock Sunday, 19 Apr 2015 | 5:00 PM ET
    A trader works on the floor of the New York Stock Exchange.

    American stocks keep getting more expensive. That leaves value-conscious investors in a sticky situation.

  • Vencore's owner, private equity firm Veritas Capital Management LLC, has hired Stone Key Group LLC and Wells Fargo& Co to advise on an auction for the company, three people said on Friday. Veritas Capital and Wells Fargo declined to comment. Veritas Capital bought the company, which was previously called SI Organization Inc, from Lockheed Martin Corp for $815...

  • US companies are doing this to expand operations Friday, 17 Apr 2015 | 8:14 AM ET
    Corporate New York skyline

    Commercial borrowers are using two or three percentage points more of their credit lines than they were a year ago.

  • "Confidence is back," said Laura Oberst, an executive vice president at Wells Fargo& Co who oversees commercial banking for the central U.S. region. A Wells Fargo spokeswoman could not immediately provide a bank-wide utilization rate for commercial and industrial borrowers, but said it has gone up a few percentage points over the past year. The increased usage...