Wells Fargo & Co reported a 55% slump in fourth-quarter profit on Tuesday, as the fallout from a sales scandal that erupted in 2016 drove the bank to set aside another $1.5 billion toward legal expenses.
Citigroup reported quarterly results that beat expectations, driven by strong fixed-income trading revenues.
U.S. stock index futures were flat to slightly lower on Tuesday, as investors took a breather following a record rally, even as JPMorgan's quarterly results set a positive tone for big bank earnings.
Citigroup Inc beat analysts' estimates for fourth-quarter profit on Tuesday, boosted by growth in its credit card business and a jump in trading revenue.
Wall Street opened largely flat on Tuesday, as investors took a breather following a record rally on optimism over the U.S.-China trade dṅeal, while big U.S. banks reported mixed quarterly results.
Wells Fargo & Co's profit slumped 55% in the fourth quarter as new boss Charles Scharf set aside another $1.5 billion for legal costs related to the bank's sales scandal and promised "fundamental changes".
When Congress slams the door on a tax-savings technique, attorneys and accountants figure out how to crack the window. The Secure Act dampened the advantages of passing on your IRA to your children, but tax gurus say this strategy might help you mimic it.
JPMorgan Chase & Co posted its biggest-ever annual profit on Tuesday as its bond trading business bounced back in the last three months of the year, setting an upbeat tone for the big U.S. banks reporting this week.
U.S. consumer prices rose slightly less than expected in December and monthly underlying inflation pressures retreated, which could allow the Federal Reserve to keep interest rates unchanged at least through this year.
Fortune | Rey Mashayekhi | Jan 14, 2020 In late 2018, payments giants Visa and Mastercard both invested in fintech startup Plaid through a $250 million funding round that valued San Francisco-based firm at an impressive $2.65 billion. Described as “strategic investments,” the two financial services heavyweights sought not only to provide Plaid with financial
The plan, which comes weeks before voting begins in the first primary and caucus states, adds urgency to legislation she introduced over the summer to cancel the bulk of the nation's outstanding student debt.
Sustainable investment funds, also known as impact or ESG funds, raked in nearly four times as much money last year as in 2018.
It's understandable that Dimon, 63, doesn't want to think about stepping down now right now.
The U.S. Supreme Court on Tuesday threw out a lower court ruling that allowed a lawsuit to proceed against managers of a retirement fund for IBM Corp employees centering on allegations that officials failed to disclose that IBM's microelectronics business was over-valued.
"If you're wanting to be in Larry Fink's dictum, you would sell GM and Ford, which aren't doing enough versus Tesla," the "Mad Money" host said.