Latest Wells Fargo & Co News

FILE - In this March 10, 2020 file photo, Wells Fargo CEO and President Charles Scharf is seated before he testifies during a hearing of the House Financial Services Committee, on Capitol Hill, in Washington. Scharf apologized Wednesday, Sept. 23 for comments he made that dismissed concerns that the banking industry, which has a long history of racist behavior, wasn’t doing enough to promote and retain diverse talent. (AP Photo/Alex Brandon, File)

Wells Fargo CEO apologizes for comments about diversity

Sep. 23, 2020 4:05 PM EDT

NEW YORK (AP) — Wells Fargo CEO Charles Scharf apologized Wednesday for comments he made suggesting it is difficult to find qualified Black executives in the financial industry. Scharf said in a memo to employees “there is a very limited pool of Black talent to recruit from” in corporate...

FILE - In this Feb. 2, 2020, file photo, the company logo appears on an unsold 2020 Model X at a Tesla dealership in Littleton, Colo.  A day after its 5-for-1 stock split took effect, Tesla is announcing plans to sell up to $5 billion worth of common shares.  Tesla shares rose over 2% in premarket trading Tuesday, Sept. 1,  after the filing with the U.S. Securities and Exchange Commission. (AP Photo/David Zalubowski, File)

Tesla announces plans to sell up to $5B in new stock shares

Sep. 1, 2020 5:10 PM EDT

DETROIT (AP) — A day after its 5-for-1 stock split took effect, Tesla announced plans Tuesday to sell up to $5 billion worth of common shares. The electric car and solar panel maker said in a filing with securities regulators that it intends to sell up to 10.03 million shares and use the proceeds for...

A currency trader watches monitors at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Friday, Aug. 28, 2020. Asian markets were mostly higher Friday after the Federal Reserve said it might keep interest rates low even if inflation rises, in a major overhaul to its strategy. (AP Photo/Ahn Young-joon)

Markets higher as Fed chair says interest rates to stay low

Aug. 27, 2020 11:49 PM EDT

Asian markets were mostly higher Friday after the Federal Reserve said it might keep interest rates low even if inflation rises, in a major overhaul to its strategy. Shares rose in Japan, South Korea, Shanghai and Hong Kong but fell in Sydney. Overnight, the S&P 500 ticked 0.2% higher, further into record...

Principia, Novavax rise; Wells Fargo, Carnival fall

Aug. 17, 2020 4:22 PM EDT

NEW YORK (AP) — Stocks that moved heavily or traded substantially Monday: Principia Biopharma Inc., up $8.51 to $99.25. Drug developer Sanofi is buying the biotechnology company for about $3.4 billion. Novavax Inc., up $9.02 to $155.53. The biotechnology company's potential coronavirus vaccine moved into...

FILE - In this May 5, 2019, file photo Warren Buffett, Chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Buffett's company has purchased another $400 million of Bank of America stock less than a week after buying roughly $800 million of the bank's stock. Berkshire Hathaway Inc. said Monday, July 27, 2020 it held 998 million Bank of America shares after the latest purchases, which represents roughly 11.5% of the bank's stock. (AP Photo/Nati Harnik, File)

Buffett's firm has bought $2.1B of Bank of America stock

Aug. 5, 2020 12:01 PM EDT

OMAHA, Neb. (AP) — Warren Buffett's company has bought $2.1 billion of Bank of America stock over the past three weeks after the latest purchases of $340 million of shares. Berkshire Hathaway Inc. said Tuesday it bought 13.6 million Bank of America shares between Friday and Tuesday. The Omaha,...