Tag: Wells Fargo

Stocks were mixed on Friday after a flurry of U.S. banks reported upbeat earnings. The Dow Jones Industrial Average gained 0.12%, while the S&P 500 fell 0.5% and the tech-heavy Nasdaq Composite slumped by 1.2%. JPMorgan Chase, Wells Fargo, and Citigroup all posted higher profits...

Wells Fargo's profits rose in the third quarter as the bank benefitted from customers paying rising interest rates on their loan repayments. The U.S. lender reported that its net interest income climbed 8% to $13.1 billion for the three-month period ending September. Net income overall...

U.S. bank deposits declined in the second quarter, with major banks unexpectedly suffering the largest dropoffs. The four largest U.S. banks by assets: Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, lost $262 billion in deposits compared to the previous year. In contrast,...

U.S. stocks ended slightly lower on Friday as banks and financial institutions disappointed following a recent round of quarterly earnings reports. Still, each major U.S. index posted weekly gains despite Friday's fall. The S&P 500 declined 0.1% on Friday as its banks' index fell 0.9%....

A tough week ahead is expected for Wall Street as banks reported mixed earnings results over the past week. Citigroup CEO Jane Fraser commented that "the long-awaited rebound in investment banking has yet to materialize," following the release of her bank's disappointing second-quarter results....

A spokesperson from Barclays Plc confirmed to Reuters that the British bank had hired Jim Birchenough from Wells Fargo & Co as its new chairman of global healthcare investment banking. Before taking the position at Barclays, Birchenough last acted as the vice chairman of biopharma...