IBTimes Australia : Wells Fargo Topic

Wall Street rally just keeps ticking, lifted by data

Sat, 18 May 2013 00:56:02 +1000

U.S. stocks advanced on Friday, with the S&P 500 erasing declines in the previous session, putting the index on track for its fourth straight weekly advance as data helped support recent momentum.

Evidence mounts on slower U.S. economic growth

Fri, 17 May 2013 02:49:02 +1000

The U.S. economy showed fresh signs of slower growth in the second quarter, with factory activity slipping in the mid-Atlantic region while groundbreaking declined at home construction sites.

Wells Fargo ordered to pay $203 million in overdraft case

Thu, 16 May 2013 05:35:02 +1000

A federal judge has again ordered Wells Fargo & Co to pay $203 million to settle class action litigation accusing it of imposing excessive overdraft fees on checking account customers, reviving an award that had been thrown out last year.

Dow, S&P 500 at new highs again as rally keeps rolling

Thu, 16 May 2013 03:14:02 +1000

U.S. stocks climbed on Wednesday, with the Dow and S&P 500 hitting new all-time highs as the market's recent upward momentum persisted and offset some weak economic data.

Wall St. extends rally as tech shares lead

Thu, 16 May 2013 02:14:02 +1000

The S&P 500 and the Nasdaq rose for a fourth straight day on Wednesday as tech shares gained and offset some weak economic data.

Wall Street holds flat after data; Deere weighs

Thu, 16 May 2013 00:49:03 +1000

U.S. stocks slipped on Wednesday, as both the Dow and S&P 500 held near their most recent record highs after a flurry of economic data did little to upset investor expectations for central bank policies.

UBS Americas hires in-house experts to spur life insurance sales

Thu, 16 May 2013 00:42:02 +1000

After years of urging its financial advisers to sell more life insurance, UBS Wealth Management Americas is bringing in full-time experts and offering financial incentives to prod its tradition-bound sales force outside its comfort zone.

Wall Street to dip at open after Empire State data

Wed, 15 May 2013 23:35:05 +1000

U.S. stocks were set to dip at the open on Wednesday, indicating the S&P 500 may ease from its most recent record high after weaker-than-expected manufacturing data.

Stock futures little changed before flurry of data

Wed, 15 May 2013 22:14:02 +1000

Stock index futures were little changed on Wednesday, indicating the S&P 500 may hold near its most recent record high ahead of a glut of economic reports, including data on inflation and manufacturing.

HSBC accelerates cost cutting in drive for profit boost

Wed, 15 May 2013 17:21:02 +1000

HSBC plans to cut annual costs by up to another $3 billion (2 billion pounds) and may axe a further 14,000 jobs as Europe's biggest bank strives to drive profits in the face of sluggish growth outside Asia.

Commerzbank in talks to sell 5.7 billion euros of UK property loans

Tue, 14 May 2013 23:21:02 +1000

Commerzbank is in intensive talks to divest the bulk of its 5.7 billion euros (4.8 billion pounds) in British property loans, Germany's second biggest lender said in the prospectus of its capital increase published on Tuesday.

FBI says more cooperation with banks key to probe of cyber attacks

Tue, 14 May 2013 05:42:02 +1000

The FBI last month gave temporary security clearances to scores of U.S. bank executives to brief them on the investigation into the cyber attacks that have repeatedly disrupted online banking websites for most of a year.

HSBC boss can do more to cut bank down to size

Mon, 13 May 2013 09:14:02 +1000

HSBC's <0005.HK> sale of a stake in a Korean insurer last month was made with little fanfare, just one of 52 deals struck or businesses closed in the last two years by Chief Executive Stuart Gulliver, and analysts are expecting more.

BofA fires back at New York over modification violations

Sat, 11 May 2013 08:00:04 +1000

Bank of America Corp has fired back at New York Attorney General Eric Schneiderman after he threatened to sue the bank for violating the terms of a $25 billion settlement designed to end mortgage servicing abuses.

BofA sells $110 billion CMBS servicing rights portfolio to KeyBank

Fri, 10 May 2013 12:21:01 +1000

Bank of America Corp will sell a commercial mortgage servicing rights portfolio valued at around $110 billion to a KeyCorp unit for an undisclosed amount, the latest offloading of servicing assets which many big banks consider costly to collect on.

U.S. can pursue case against Bank of America over mortgages

Thu, 09 May 2013 05:14:04 +1000

A federal judge ruled on Wednesday that the United States can pursue parts of a civil lawsuit against Bank of America Corp over its sale of toxic mortgages to Fannie Mae and Freddie Mac , boosting a largely untested legal theory the government used in the case.

Dow ends above 15,000 for first time, S&P closes at record

Wed, 08 May 2013 09:14:04 +1000

The Dow closed above 15,000 for the first time on Tuesday and the S&P 500 ended at another record high, extending the market's rally as more investors rushed to join the party and German industrial data beat expectations.

Dow marks first close above 15,000, S&P ends at record

Wed, 08 May 2013 07:00:07 +1000

Stock futures point to slight gains, indexes near records

Tue, 07 May 2013 23:14:04 +1000

Stock index futures pointed to slight gains at the open on Tuesday after the S&P 500 hit another record high, but investors found little reason to push shares higher.

Stock futures flat, S&P coming off another record close

Tue, 07 May 2013 22:28:02 +1000

Stock index futures were little changed on Tuesday after the S&P 500 extended its string of record closes in the previous session and has in five months matched all of 2012's gains.

Stock futures little changed, S&P coming off another record close

Tue, 07 May 2013 21:35:04 +1000

Stock index futures were flat on Tuesday as investors found little reason to keep pushing shares higher following a day on which the S&P 500 ended at yet another record high.

Big U.S. brokerage firms are thriving, not diving: report

Tue, 07 May 2013 03:00:11 +1000

Forecasts of a steady deterioration in profit at Merrill Lynch, Morgan Stanley , Wells Fargo Advisors and UBS Wealth Management Americas are highly exaggerated, analysts at Sanford C. Bernstein & Co declared in a new report on Friday.

New York to sue BofA, Wells Fargo over mortgage practices

Tue, 07 May 2013 01:00:04 +1000

New York Attorney General Eric Schneiderman on Monday said he plans to sue Bank of America Corp and Wells Fargo and Co for violating the National Mortgage Settlement brokered last year between the country's biggest banks and 49 state attorneys general.

Buffett maps out hopes for Berkshire without him

Sun, 05 May 2013 07:28:02 +1000

Warren Buffett on Saturday gave the most extensive comments to date about the future of Berkshire Hathaway Inc after he is gone, saying he still expects the conglomerate to be a partner of choice for distressed companies.

Warren Buffett maps out hopes for Berkshire without him

Sun, 05 May 2013 07:21:02 +1000

Buffett says people will still call Berkshire when he's gone

Sun, 05 May 2013 03:49:03 +1000

Warren Buffett and the board of his conglomerate Berkshire Hathaway Inc are "solidly in agreement" on who should be the company's next chief executive, he said at Berkshire's annual shareholder meeting on Saturday.

Berkshire profit rises 51 percent, share price sets record

Sat, 04 May 2013 08:14:02 +1000

Warren Buffett's company Berkshire Hathaway Inc on Friday said first-quarter profit rose nearly 51 percent, helped by improved results in insurance and gains from its investments and derivative contracts.

UBS names head of private wealth division in Americas

Sat, 04 May 2013 06:00:04 +1000

Swiss bank UBS AG's U.S. brokerage unit has named a new head for its private wealth management division, as the company looks to expand its business catering to clients with $10 million or more in investable assets.

Big four U.S. brokerage firms are thriving, not diving: report

Sat, 04 May 2013 05:42:02 +1000

S&P breaks above 1,600 after strong jobs figures

Sat, 04 May 2013 00:42:02 +1000

Stocks climbed on Friday, with the S&P 500 and Dow industrials hitting intraday record highs after U.S. employment rose more-than-expected in April, easing concerns about weak economic growth.