Latest Wells Fargo & Co News
Rory McIlroy won't rejoin PGA Tour board, says others were 'uncomfortable' with his potential return
CHARLOTTE, N.C. (AP) — Rory McIlroy won’t be returning to the PGA Tour board, saying Wednesday a plan to replace Webb Simpson was met with resistance from board members. Simpson, one of six player-directors, recently offered to give up his seat — but only if McIlroy were to...
US employers scaled back hiring in April. How that could let the Fed cut interest rates
WASHINGTON (AP) — The nation’s employers pulled back on their hiring in April but still added a decent 175,000 jobs in a sign that persistently high interest rates may be starting to slow the robust U.S. job market. Friday’s government report showed that last month’s hiring...
Big banks warn of uncertain year ahead after mixed financial performances in the first quarter
NEW YORK (AP) — Big banks warned of an “uncertain” year ahead after mixed financial results during the first quarter in an environment of stubbornly high inflation and geopolitical clashes in Europe, the Middle East and elsewhere. JPMorgan reported a modest 6% rise in profits...
Wells Fargo: Q1 Earnings Snapshot
SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Wells Fargo & Co. (WFC) on Friday reported first-quarter net income of $4.62 billion. The bank, based in San Francisco, said it had earnings of $1.20 per share. Earnings, adjusted for non-recurring costs, were $1.26 per share. ...
U.S. stocks soar above global markets, giving investors solid path for growth
NEW YORK (AP) — U.S. markets are far outpacing their global counterparts in 2024, continuing a decade-long trend of strong growth compared with the rest of the world. The S&P 500 is up 10% for the year, compared to just 4% for developed markets outside the U.S. Since 2019 the...
This Week: Consumer prices, Fed meeting minutes and earnings reports from several big banks
A look at some of the key business events and economic indicators upcoming this week INFLATION BAROMETER The Labor Department releases its March report on consumer prices Wednesday. Analysts expect inflation at the consumer level rose 3.4% in March from...
It's a bittersweet Easter for chocolate lovers and African cocoa farmers but big brands see profits
ACCRA, Ghana (AP) — Shoppers may get a bitter surprise in their Easter baskets this year. Chocolate eggs and bunnies are more expensive than ever as changing climate patterns eat into global cocoa supplies and the earnings of farmers in West Africa. About three-quarters of the...
Wall Street’s Magnificent 7 shrinks to a Fab 4
NEW YORK (AP) — The small group of stocks that’s been driving Wall Street to records is getting even smaller. Last year just a handful of companies were responsible for most of the U.S. stock market’s total return. It’s an exclusive enough club that they’ve come to be known...
Stock market today: Asian shares are mixed after Wall Street slips lower and bitcoin bounces higher
BANGKOK (AP) — Shares were mixed in Asia on Thursday after a lackluster day on Wall Street, where selling of technology stocks pulled benchmarks lower. U.S. futures were flat and oil prices fell. Tokyo's Nikkei 225 index fell 0.7% to 38,953.49 after data showed...
US eases restrictions on Wells Fargo after years of strict oversight following scandal
NEW YORK (AP) — The Biden administration eased some of the restrictions on banking giant Wells Fargo, saying the bank has sufficiently fixed its toxic culture after years of scandals. The news sent Wells Fargo's stock up sharply Thursday as investors speculated that the bank,...
