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The move allows the company to provide more robust career growth opportunities and better service for its customers and clients, Wells Fargo has said
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Wells Fargo sold 9.34 lakh shares of Bharti Airtel (0.015 percent stake) at Rs 1,630.70 apiece.
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Shares of the bank rose 3.1% to $73.40 in premarket trading on Wednesday after it also forecast net interest income (NII) — or the difference between what it earns on loans and pays out for deposits — would increase in 2025
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The fourth-largest US lender reported third-quarter net income of $5.11 billion, compared with $5.78 billion a year earlier
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Large companies have increasingly adopted sophisticated surveillance tools to monitor remote employees. These technologies can track keystrokes, eye movements, take screenshots, and log website visits.
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With more than 25 years of experience at UBS, he served in a variety of leadership roles, including Chief Executive Officer (CEO) of India, and Chief Information Officer (CIO) for Asia.
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The Wall Street giants are borrowing from the debt market after posting strong net interest income and raising their outlook guidance.
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Asian stocks fell earlier in the session as markets caught up with growth data from July 17 showing the post-pandemic bounce in China's economy was over.
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Wells earned $4.9 billion, or $1.25 per share in the period, on $20.5 billion in revenue.
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The preliminary settlement, disclosed in a court filing Monday, has to be approved in the next few months, according to the report. The suit had accused the bank of overstating its progress in cleaning up after the issues, according to the publication.
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A former Wells Fargo executive, Carl Nelson, has been accused of subjecting a female subordinate to unwanted sexual advances from 2016 up until 2020.
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The quarter saw the collapse of two banks that rattled the financial sector and the broader stock market
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Charles Scharf's compensation consisted of $2.5 million in base salary, $5.4 million in cash incentive, $10.8 million long-term performance share award and $5.8 million in restricted share rights, the filing showed.
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Wells earned $2.9 billion, or 67 cents per share, in the the last quarter of 2022. Analysts were expecting a profit of 60 cents per share.
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Delhi police arrested Shankar Mishra on Friday night – nearly six weeks after he urinated on an elderly woman in the business class section of an Air India flight.
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"Air India is deeply concerned about the in-flight instances where customers have suffered due to the condemnable acts of their co-passengers on our aircraft," said CEO Campbell Wilson
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Shankar Mishra, in an inebriated state, urinated on a senior citizen in her 70s, in business class of an Air India flight from New York to New Delhi.
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JPMorgan Chase, Morgan Stanley, Citigroup and Wells Fargo showed a slide in net income after turbulent markets choked off investment banking activity and lenders set aside more rainy-day funds to cover losses from borrowers who fall behind on payments
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"Whether it's a sport or fitness routine, it puts your power of assessing yourself or your competition to test every day... leadership has a great deal to do with assessing strengths and weaknesses (too)."
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The U.S. FederalReserve said on Thursday the country's largest lenders could easily weather a severe economic downturn, giving them a clean bill of health and paving the way for them to redistribute excess capital to shareholders.
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The global strategist at Wells Fargo Investment Institute thinks that inflation will settle at a higher level this time than that seen in the decades leading up to the pandemic.
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The billionaire investor ended his long-running bet on Wells Fargo during the first quarter, according to a filing Monday from his Berkshire Hathaway Inc. Berkshire also reported new stakes in banking giant Citigroup Inc. and in auto lender Ally Financial Inc.
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Wells Fargo & Co said on Wednesday its investment institute is planning to evaluate and onboard an actively managed cryptocurrency strategy fo..
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Scharf started making changes shortly after taking the helm in October 2019, though he has not yet provided firm targets or timelines for progress.
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Wells Fargo's asset management arm, which managed $578 billion on behalf of customers as of the end of June, could fetch more than $3 billion in a sale, sources told Reuters
