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Top News & Analysis North Dakota

  • The new estimate was provided in a filing late Thursday night in the federal court in San Francisco, and is 1.4 million accounts higher than previously reported by federal regulators, in what became a national scandal. Wells Fargo spokesman Ancel Martinez in an email said the new estimate was "based on a hypothetical scenario" and unverified, and did not reflect "...

  • Wells Fargo spokesman Ancel Martinez in an email said the new estimate was "based on a hypothetical scenario" and unverified, and did not reflect "actual unauthorized accounts. District Judge Vince Chhabria in San Francisco is scheduled to consider preliminary approval at a May 18 hearing. John Stumpf and Carrie Tolstedt, who were respectively the San...

  • WELLS FARGO WEALTH BUSINESS HEAD DAVID CARROLL TELLS INVESTORS 30 PERCENT PRE-TAX PROFIT MARGINS "ACHIEVABLE".

  • The company spilled more than 2 million gallons of drilling fluid- mostly water and clay- in Ohio wetlands in April during construction of Rover, prompting regulators to halt drilling in certain areas. It is one of a network of pipelines being built to boost production in the Marcellus and Utica shale regions located largely in Pennsylvania and Ohio, the biggest...

  • But the move, detailed at Wells Fargo's investor day, failed to impress Wall Street, because management also indicated that revenue growth is suffering from the scandal, which involved employees creating as many as 2.1 million unauthorized accounts in customers' names to hit sales targets. The San Francisco- based bank's stock was down 1.7 percent at $53.81 in...

  • Wells Fargo published a presentation on Thursday related to an investor event that showed another $2 billion in expense reductions on top of $2 billion management had earlier outlined. Chief Executive Tim Sloan used the word "unacceptable" at least twice, in reference to prior sales practices and expense levels. As Chief Financial Officer John Shrewsberry...

  • WELLS FARGO CFO SAYS EXPECTED SHIFT BY REGULATORS WOULD ENABLE HIGHER PAYOUT RATIOS OVER TIME.

  • May 11- Wells Fargo& Co management unveiled $2 billion in new cost cuts ahead of presentations at the bank's investor day on Thursday as the scandal-hit lender hopes to appeal to skeptical investors on the heels of disappointing first-quarter earnings. The third-largest U.S. bank said the savings will be reflected in 2019 earnings and come on top of a...

  • May 11- Wall Street is waiting to find out exactly how much more money Wells Fargo& Co management plans to save through cost cuts when top executives give six hours of presentations at the bank's investor day on Thursday. The third-largest U.S. bank is already working toward a $2 billion annual expense-savings target, but when discussing first-quarter results...

  • NEW YORK, May 10- The Dakota Access Pipeline leaked 84 gallons of crude oil at a pump station in South Dakota last month, according to state documents, just weeks before the pipeline is set to start commercial service. The spill, the equivalent of two barrels of oil, occurred on April 4 in Tulare township in Spink County, according to South Dakota's Department of...

  • WASHINGTON, May 9- A bill to ease restrictions on energy development on U.S. tribal lands has a good chance of passing the Republican-controlled Congress this year, after several failed attempts since 2013, the chair of the Senate Indian affairs committee said. "I think we will be able to get the bill through the House this go around," Republican Senator John Hoeven...

  • SEATTLE, May 8- Native American leaders and climate activists protested at several Chase branches in Seattle on Monday, forcing them to close temporarily as demonstrators demanded the bank not lend to projects like the Keystone XL oil pipeline. At a branch in downtown Seattle, about 50 protesters occupied the main lobby, where they made speeches, sang songs, held...

  • WARREN BUFFETT SAYS WELLS FARGO'S REPUTATION HAS BEEN HURT, EARNING POTENTIAL HAS NOT BEEN HURT MATERIALLY- CNBC.

  • OMAHA, Neb., May 6- Warren Buffett, the chairman of Berkshire Hathaway Inc, on Saturday criticized Wells Fargo& Co for failing to stop employees from signing up customers for bogus accounts even after learning it was happening, causing a scandal. Wells Fargo, whose largest shareholder is Berkshire with a 10 percent stake worth roughly $27 billion, gave employees too...

  • OMAHA, Neb., May 6- Warren Buffett, the chairman of Berkshire Hathaway Inc, on Saturday faulted Wells Fargo& Co for failing to stop employees from signing up customers for bogus accounts even after learning it was happening, causing a scandal. Wells Fargo, whose largest shareholder is Berkshire with a 10- percent stake worth roughly $27 billion, gave employees too...

  • OMAHA, Neb., May 6- Warren Buffett, the chairman of Berkshire Hathaway Inc, on Saturday faulted Wells Fargo& Co for failing to stop employees from signing up customers for bogus accounts even after learning it was happening, causing a scandal. Wells Fargo, whose largest shareholder is Berkshire with a 10- percent stake worth roughly $27 billion, gave employees too...

  • OMAHA, Neb., May 6- Warren Buffett, the chairman of Berkshire Hathaway Inc, on Saturday faulted Wells Fargo& Co for failing to stop employees from signing up customers for bogus accounts even after learning it was happening, causing a scandal. Wells Fargo, whose largest shareholder is Berkshire with a 10- percent stake worth roughly $27 billion, gave employees too...

  • May 6- Billionaire investor Warren Buffett and Berkshire Hathaway Vice Chairman Charlie Munger are answering five hours of questions from shareholders, journalists and analysts at Berkshire's 52nd annual meeting in Omaha, Nebraska. Below are a few of the comments from Buffett, the "Oracle of Omaha," on a wide range of topics:. CHARLIE MUNGER ON PUERTO RICO.

  • May 6- Billionaire investor Warren Buffett and Berkshire Hathaway Vice Chairman Charlie Munger are answering five hours of questions from shareholders, journalists and analysts at Berkshire's 52nd annual meeting in Omaha, Nebraska. The weekend known as "Woodstock for Capitalists" is unique in corporate America, a celebration of the billionaire's image and...

  • OMAHA, Neb., May 6- Warren Buffett on Saturday faulted Wells Fargo& Co for failing to stop employees from signing up customers for bogus accounts even after learning it was happening, causing a national scandal. Wells Fargo, whose largest shareholder is Berkshire with a 10 percent stake worth $27 billion, gave employees too much autonomy to engage in "cross-selling"...