Major US banks report surge in profits for the quarter

Major US banks report surge in profits for the quarter

By Anna Domanska - Apr 16, 2021

Three major US banks —JPMorgan Chase & Co., Wells Fargo & Co. and Goldman Sachs Group Inc.—reported earnings results for the first quarter of 2021.

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Wells Fargo to forego asset management unit to private equity for $2.1 billion

Wells Fargo to forego asset management unit to private equity for $2.1 billion

By Anna Domanska - Feb 24, 2021

Wells Fargo has been underperforming for the past few years and has undertaken cost-cutting and restructuring to improve its numbers. Wells Fargo plans to cut $8bn from its annual

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Wells Fargo terminates 100 employees for siphoning relief aid from SBA

Wells Fargo terminates 100 employees for siphoning relief aid from SBA

By Christy Gren - Oct 15, 2020

Evidence has regularly come out of how the stimulus package floated by the government under the CARES Act has been wildly misused by large corporate houses and even senators for pa

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Wells Fargo names Charles Scharf new CEO

Wells Fargo names Charles Scharf new CEO

By Christy Gren - Sep 27, 2019

Wells Fargo & Co on Friday announced Charles Scharf, the CEO of Bank of New York Mellon, as its successor. The bank’s interim CEO Allen Parker will continue to serve the seat

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Blackstone Bids $2.38 billion for Investa

Blackstone Bids $2.38 billion for Investa

By Anna Domanska - May 28, 2018

For the last few weeks, Industry Leaders Magazine has found itself running a Blackstone acquisition deal almost every week. Earlier this month, the US multinational private equity

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Google Launches Android Pay, Its Mobile Payments Service in the US

Google Launches Android Pay, Its Mobile Payments Service in the US

By Anna Domanska - Sep 11, 2015

On Thursday, Google announced the official launch of Android Pay, a move to grab a chunk of the growing market for mobile payments. The search giant announced in a blog post tha

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Fed Proposes Tougher “Capital Surcharge” for Lower Risk to Big Banks

Fed Proposes Tougher “Capital Surcharge” for Lower Risk to Big Banks

By Anna Domanska - Sep 10, 2014

The Federal Reserve plans to hit the biggest U.S. banks with a tougher version of capital surcharge than that agreed by international regulators, so they remain less of a “too bi

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Citigroup’s Q1 Profits Recoiled to $2.9 Billion

Citigroup’s Q1 Profits Recoiled to $2.9 Billion

By Dhwani Shah - Apr 17, 2012

Citigroup made profits of $2.9 billion in the first three months of the year. Citigroup said that it had been helped by record revenue from processing transactions for its internat

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Goldman, Wells Fargo to Face SEC Scrutiny

Goldman, Wells Fargo to Face SEC Scrutiny

By Dhwani Shah - Feb 29, 2012

The federal regulators warned Goldman Sachs Group Inc. and Wells Fargo & Co., the biggest U.S. home lender, of facing civil assertions attached to sales of mortgage-backed sec

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