Investors had hoped that the biggest U.S. banks would boost dividend payments substantially in 2015, but recent events including slumping oil prices will make it harder for banks to pay out more.
Tags: Wells Fargo & Co.
Teen retailer Forever 21 turns to outside investors for $150M loan
Teen fashion retailer Forever 21 Inc is not seeing enough growth and is turning to Wells Fargo & Co. and TPG for a $150-million-loan aide. For over a dozen years, this fast-growing retail store has won the hearts of young shoppers and wiped out rivals with its trendy fashion and affordable prices, with $7.90 jeans and $8.90 cardigans. But lately, there are reports that the company is struggling to fill productivity.
JPMorgan just made it easier to borrow $3 million for a home loan
If you're planning to purchase a home or simply need to get a loan, then J.P. Morgan is the answer. J.P. Morgan Chase & Co. which is the nation's largest bank by assets, has become less strict with its criteria when it comes to large mortgages, as numbers of lenders build up to get a bigger portion of the high-end housing market.
Berkshire Hathaway profit up 10 percent amid railroad gains
Warren Buffett's Berkshire Hathaway Inc on Friday said first-quarter profit rose 10 percent, and operating results easily beat forecasts, boosted by its railroad and insurance businesses and gains from derivatives.
Wells Fargo to cut 1,000 jobs, shut Milwaukee home-lending office
Wells Fargo & Co, the fourth-largest U.S. bank by assets, said it will cut 1,000 jobs and close its home-lending servicing office in Milwaukee, Wisconsin.
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Financial information provider SNL Financial in a report said that the five largest lenders in US control 44.2% of the industry's assets. JPMorgan Chase & Co, Bank of America,Citigroup,Wells Fargo & Co, and US Bancorp have a total of $6.46 trillion in assets.
A Financial Industry Regulatory Authority arbitration panel ordered the San Francisco-based brokerage unit of Wells Fargo & Co to buy back auction rate securities amounting to $94 million from its investors.
San Francisco-based real estate firm BRE Properties Inc is discussing a USD4.5-billion buyout offer by Essex Property Trust Inc, a deal that could expand the latter's portfolio in California.
Data gathered by the US Federal Reserve showed a decline of over USD80 billion in nanks' holdings in federal agency bonds and Treasuries, marking its first annual decline since 2007.
Private equity firm New Mountain Capital LLC is exploring a sale of Inmar Inc, a provider of coupon processing and logistics services to companies, seeking more than $600 million, according to three people familiar with the matter.
Wells Fargo & Co's profits increased however its mortgage banking income had fell, said a Reuters report.
Morgan Stanley along with Bank of America Corp and Wells Fargo & Co. would lead the six biggest lenders in the US banking sector, said a Bloomberg report.
Analysts and pundits alike saw that private insurers who received state aid are reaping more benefits than they should.
Wells Fargo and Co agrees to buy ING Real Estate Finance debt worth US$1.6 billion. Wells and Fargo Co agreed to purchase the twenty-nine loans incurred by ING Real Estate Finance debt.
