January 14, 2020

Wells Fargo’s new chief pledges more cost cuts as profit slumps

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 […]
January 14, 2020

U.S. bank executives offer cautious optimism heading into 2020

Despite trade wars, low interest rates and new geopolitical tensions, big U.S. banks have not experienced major disruption to their core businesses and top executives are […]
January 14, 2020

U.S. agency to determine cause of 2018 fatal Tesla ‘Autopilot’ crash

The U.S. National Transportation Safety Board (NTSB) will meet on Feb. 25 to determine the probable cause of the 2018 fatal crash of a Tesla Inc […]
January 14, 2020

Chile’s Codelco says uncovered $22 million insurance fraud involving unions

Chile’s state-owned Codelco, the world’s largest copper producer, said on Tuesday it had filed a lawsuit over an alleged scam in insurance contracts drawn up by […]
January 14, 2020

Former Barclays CEO suggested Qatari side deal in 2008, London court hears

Former Barclays chief executive John Varley first suggested the bank could use a side deal to satisfy Qatar’s demands for extra cash in return for rescue […]
January 14, 2020

S&P 500 eases from record on tech retreat, Wells Fargo slide

The S&P 500 eased from record levels on Tuesday, as technology stocks handed back gains made on hopes of a preliminary U.S.-China trade deal and Wells […]
January 14, 2020

Citigroup beats estimates on credit card, trading revenue growth

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. Powered by […]
January 14, 2020

Wall Street opens flat after mixed big bank results

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. […]
January 14, 2020

BlackRock takes tougher stance on climate after activist heat

BlackRock Chief Executive Larry Fink has warned company boards to step up efforts to tackle climate change, marking a significant shift in the public stance of […]
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