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  • Moody's Investors Service released detailed reports on California, North Dakota and Oklahoma as part of its research into the effect of low oil prices on key oil-producing states. But Moody's notes the state also is expected to reduce spending, which will hurt local governments. Oklahoma currently has an Aa2 credit rating from Moody's, which is the company's...

  • TULSA, Okla.— An oil and natural gas producer has laid off 42 employees, including 38 at its headquarters in Tulsa. The Oklahoman reports that WPX Energy Inc. also cut three positions in North Dakota and one position in New Mexico on Monday. The company now focuses on the Permian, San Juan and Williston basins.

  • HELENA, Mont.— The first time Jason Ebert needed an air ambulance, it saved his life. Both times, Montana doctors ordered Ebert flown 150 miles from Bozeman to Billings for treatment. Last year, North Dakota lawmakers passed legislation that required air ambulance services to be participating providers with insurance companies that cover at least 75 percent of...

  • April 18- Wells Fargo& Co' s securities unit was added to the list of primary dealers by the New York Federal Reserve on Monday in the latest sign of the bank's more aggressive pursuit of Wall Street business. Wells Fargo becomes the 23rd primary dealer, and the first new addition since TD Securities' U.S. business was added to the list in February 2014.

  • Cheap gas at the pump— though a welcome cash infusion for millions of American households— is a way of saying "recession" in south Louisiana, where oil wells are as common as shrimp nets and alligators. Since 2014, Louisiana has lost about 12,000 oil and gas jobs as prices have declined, according to the Louisiana Workforce Commission. Now— as is happening in other...

  • The bank has set aside more than $1 billion in the quarter to cover bad loans, saying its energy portfolio remained under "significant stress." "Wells Fargo aggressively grew its energy portfolio over the past several years and we expect auto credit to see incremental pressure through 2016 and into 2017," analyst Kevin Barker wrote in a note to clients.

  • April 14- Wall Street was little changed on Thursday after two days of solid gains as investors digested the latest round of big bank earnings and financial shares kept bouncing back. Wells Fargo shares slipped 0.5 percent after the bank's quarterly report. Results from JPMorgan, the No. 1 U.S. bank by assets, had helped boost the market on Wednesday a day after...

  • April 14- Wall Street was little changed on Thursday after two days of solid gains as investors digested the latest round of big bank earnings. Wells Fargo shares were up 0.1 percent after the bank's quarterly report. Results from JPMorgan, the No. 1 U.S. bank by assets, had helped boost the market on Wednesday a day after energy shares led Wall Street higher.

  • *Sets aside $1.09 bln to cover bad loans. April 14- Wells Fargo& Co's quarterly profit fell 7 percent as the No. 3 U.S. bank by assets set aside more than $1 billion to cover bad loans, saying its energy portfolio remained under "significant stress." This week alone, Peabody Energy Corp, the biggest U.S. coal miner, and Energy XXI Ltd, a major oil and gas producer in Louisiana,...

  • Wells Fargo and Bank of America, two of the biggest lenders to the U.S. oil and gas sector, each set aside hundreds of millions of dollars in additional provisions to cover souring loans to energy companies. While the price of oil has risen off decade-lows hit in January, it is still trading around $40 a barrel, well below the $100 plus levels seen in 2014 and spelling...

  • *Sets aside $1.09 bln to cover bad loans. April 14- Wells Fargo& Co's quarterly profit fell 7 percent as the No.3 U.S. bank by assets set aside more than $1 billion to cover bad loans, saying its energy portfolio remained under "significant stress." This week alone, Peabody Energy Corp, the biggest U.S. coal miner, and Energy XXI Ltd, a major oil and gas producer in Louisiana,...

  • April 14- Wells Fargo& Co reported a 7 percent fall in quarterly profit as it set aside more than $1 billion to cover bad loans, saying its energy portfolio remained under "significant stress." The net income applicable to Wells Fargo's common shareholders fell to $5.09 billion, or 99 cents per share, in the first quarter ended March 31 from $5.46 billion, or $1.04 per...

  • The net income applicable to common shareholders fell to $5.09 billion, or 99 cents per share, in the first quarter ended March 31 from $5.46 billion, or $1.04 per share, a year earlier, the bank said on Thursday. Analysts on average had estimated earnings of 97 cents per share, according to Thomson Reuters I/B/E/S. Wells Fargo set aside $1.09 billion in the quarter to...

  • WILLISTON, N.D., April 13- North Dakota's oil output fell 3,000 barrels per day in February even as producers brought some wells online to generate cash despite low prices, the state's energy regulator said on Wednesday in another sign of the resilience of U.S. shale output. The state's roughly 11,000 active wells pumped about 1,119,100 barrels per day in...

  • April 13- U.S. federal regulators said five out of the eight biggest U.S. banks do not have credible plans to operate without relying on taxpayer money in case of a bankruptcy and gave them until Oct. 1 to make amends or risk sanctions. The Federal Deposit Insurance Corporation and the Federal Reserve jointly failed the plans, commonly called "living wills", of Bank of...

  • April 13- Wells Fargo& Co poses an increasingly serious threat to the global financial system, while risks posed by other large U.S. banks have changed relatively little, according to an annual report released Wednesday by a U.S. government research group charged with monitoring such threats. The Office of Financial Research, a financial stability watchdog,...

  • WASHINGTON, April 13- U.S. regulators failed five big banks on Wednesday, including JP Morgan and Wells Fargo, on their plans for a bankruptcy that would not rely on taxpayer money, giving them until Oct. 1 to make amends or risk sanctions. Nearly a decade after the financial crisis, it underscored how the debate about banks being "too big to fail" continues to rage in...

  • NEW YORK, April 13- When Cubic Energy Inc's bankruptcy plan took effect on March 1, shareholders of the Dallas- based oil and gas company were wiped out. The bank had a nearly 10 percent stake in Cubic Energy at the end of 2015- worth more than $25 million at the company's peak- through a private equity-style unit called Wells Fargo Energy Capital.

  • April 8- Wells Fargo& Co admitted to deceiving the U.S. government into insuring thousands of risky mortgages, as it formally reached a record $1.2 billion settlement of a U.S. Department of Justice lawsuit. The settlement with Wells Fargo, the largest U.S. mortgage lender and third-largest U.S. bank by assets, was filed on Friday in Manhattan federal court.

  • NEW YORK, April 5- The U.S. Treasury Department proposed new tax regulations late on Monday that threw a series of proposed mergers into question, including Pfizer Inc's $160 billion agreement to buy Allergan Plc, causing Allergan shares to fall sharply. Pfizer's deal to buy Dublin- based Allergan, the maker of Botox, aimed to create the world's largest drugmaker...