Latest Wells Fargo & Co News

Bank profits soar, helped by merger frenzy, fewer bad loans

Oct. 14, 2021 13:57 PM EDT

NEW YORK (AP) — It's good to be a bank right now. Four of the largest U.S. banks said their profits grew by double-digits last quarter, as a healthier U.S. economy has helped reduce the number of loans in default or that the bank won't likely recoup. The results for...

JPMorgan's 3Q profits rise, but low rates weigh on revenue

Oct. 13, 2021 13:05 PM EDT

NEW YORK (AP) — JPMorgan Chase posted a 24% jump in third-quarter profits on Wednesday, largely driven by one-time items that boosted its results, as the bank struggled to grow revenues with interest rates at near-zero levels. Despite the slow revenue growth, the bank...

Asian shares mixed after muddled day of trading on Wall St

Oct. 13, 2021 01:09 AM EDT

Shares were mixed in Asia on Wednesday after an up-and-down day on Wall Street ended with most benchmarks lower as traders waited for updates on inflation and corporate earnings. Tokyo's Nikkei 225 index fell 0.3% to 28,158.28 and the S&P/ASX 200 edged 0.1% lower to...

Today in History

Oct. 12, 2021 00:10 AM EDT

Today in History Today is Tuesday, Oct. 12, the 285th day of 2021. There are 80 days left in the year. Today’s Highlight in History: On Oct. 12, 2000, 17 sailors were killed in a suicide bomb attack on the destroyer USS Cole...

Stocks give up an early gain and end lower on Wall Street

Oct. 11, 2021 16:42 PM EDT

Stocks closed broadly lower after a day of choppy trading on Wall Street Monday as investors prepare for a busy week of corporate earnings and inflation updates. The major indexes made early gains, but slowly fizzled as the day progressed. The S&P 500 fell 30.15...

How to benefit from corporate pledges to minority businesses

Sep. 30, 2021 07:01 AM EDT

Since the start of 2020, companies from Bank of America and JPMorgan Chase to Google and Twitter have pledged billions of dollars to support entrepreneurs of color. All those dollars don’t go directly into business owners’ pockets, however. Many are being invested in...

Former US defense secretary testifies in Holmes fraud trial

Sep. 22, 2021 22:12 PM EDT

SAN JOSE, Calif. (AP) — Former U.S. Secretary of Defense James Mattis testified Wednesday in the trial of fallen tech star Elizabeth Holmes, saying the entrepreneur misled him into believing she was on the verge of rolling out a blood-testing breakthrough that he hoped would help save lives...

Elizabeth Holmes' trial to dissect downfall of a tech star

Sep. 07, 2021 15:03 PM EDT

Just six years ago, Elizabeth Holmes seemed destined to fulfill her dream of becoming Silicon Valley's next superstar. She was the subject of business magazine cover stories describing her as the youngest self-made female billionaire in history, former President Bill Clinton was reverently...

Finance exec Diana Taylor to lead New York City Ballet Board

Sep. 03, 2021 09:32 AM EDT

NEW YORK (AP) — New York City Ballet has chosen Diana L. Taylor, a finance executive and companion of former mayor Mike Bloomberg, to lead its board of directors as it prepares to reopen after the coronavirus shutdown, the company announced. Taylor, who was...

Fallen tech star Elizabeth Holmes prepares to go on trial

Aug. 31, 2021 23:40 PM EDT

Jury selection in the fraud trial of Theranos founder Elizabeth Holmes began Tuesday, casting a spotlight on the fallen Silicon Valley star now facing felony charges alleging she duped elite financial backers, customers and patients into believing that her startup was about to revolutionize...