wells fargo

 

Wall Street ends lower as Turkey woes hit banks

Aug 11 2018

For the week, the Dow fell 0.6 percent and the S&P 500 dipped 0.3 percent. The Nasdaq gained 0.3 percent for the week after strong gains in some technology shares.

Wells Fargo finds efficiency target elusive as revenue slips

Aug 01 2018

With Wells Fargo & Co’s (WFC.N) revenue slumping and no clear end in sight for sales scandal-related costs, analysts have pushed back predictions for when the bank’s closely watched efficiency ratio will return to pre-scandal levels.

Air India gets default notices from banks, aircraft lessors: Business Standard

Jul 30 2018

Three banks and two aircraft leasing firms have served default notices on Air India over the last few weeks, the Business Standard newspaper reported , raising concerns about the government-owned carrier’s state of finances and credit-worthiness.

Wall Street flat as industrials offset slide in bank stocks

Jul 13 2018

U.S. stock indexes were little changed on Friday as a slide in financials on the three big Wall Street banks reporting mixed results was offset by gains in industrials as the U.S.-China trade rhetoric eased overnight.

Wells Fargo profit misses estimates on lower loans, higher expenses

Jul 13 2018

Wells Fargo & Co (WFC.N) on Friday reported a bigger-than-expected drop in quarterly profit, as lending activity slowed and it recorded higher expenses.

Stock futures rise as big deals, earnings hope dull tariff fears

Jul 12 2018

U.S. stock index futures bounced back on Thursday, from a drop a day earlier on renewed fears of a Sino-U.S. trade war, as oil prices rose and a couple of big deals helped rekindle optimism as the earnings season kicks off.

Pfizer delays drug price hikes after talking with Trump

Jul 11 2018

Pfizer Inc (PFE.N) said it was deferring drug price increases for no more than six months after the company’s chief executive officer had an extensive conversation with U.S. President Donald Trump.

Citigroup, with limited options, hopes to lure deposits digitally

Jul 09 2018

Citigroup Inc is facing a unique dilemma among the four largest U.S. banks: it is light on deposits from individuals, an important funding source that costs little and tends to stick around.

Wells Fargo settles retail sales lawsuit for $142 million

Jun 15 2018

Wells Fargo & Co said on Friday a district court in California approved a $142 million class-action settlement to compensate customers who were affected by a sales scandal.

Nestle streamlines R&D to speed up product innovation

May 24 2018

Nestle plans to combine its scientific research operations into a single unit in an attempt to speed up development of new products at a time when competition from smaller rivals is intensifying.

Indian Markets

 
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Global Markets

 

Stocks In News

 

BHARTI AIRTEL

Aircel moves SC to make Airtel clear dues

Alleges that the co withholding Rs453 Cr of bank guarantees paid on its behalf

Bank guarantees have lapsed and Aircel wants Airtel to pay the money

Alleged that Airtel is trying to usurp the sum

Aircel says without the money it may get liquidated

ET reports

MAX INDIA

Bain joins KKR in race for Max Healthcare stake

PE firms look to buy 47% stake from Life Healthcare for $450-540 Mn

ET reports

NAVNEET EDUCATION

To decide on buy back of shares on Aug. 20

JET AIRWAYS CLARIFIES

Co planning $400 Mn stake sale is speculative in nature

Jet Auditor BSR may quit if issues are not resolved is factually incorrect

Have been pro-actively working on multiple revenue enhancements

Evaluating various funding options to meet liquidity requirements on priority

Relationship with Etihad Airways very strong

No delays in discharging any loan obligations to any of the lenders

Default status in tabular statement only due to technical errors, rectified now

Clarifies that reports of stake sale are purely speculative

Also Clarifies that rumors of auditor quitting if issues not solved are factually incorrect

Seeks lenders help in bid to avoid default

Airline wants waiver of loan covenant on existing debt facility of $185mn

Co has to repay or refinance at least $500mn of existing debt to avoid default

Told lenders it won’t be able to meet min $50mn profit condition for FY19

Consortium of lenders yet to decide on Jet’s request

Airline’s total debt was Rs 9430 Cr as on 31st March 18

Mint reports

NSE TO JET AIRWAYS

Have noticed a difference in your responses dated August 9 & 10

Clarify whether mgmt extension from audit committee as per Aug 10 response

Or did Audit Committee not recommend results to board as per Aug 9 response?

In Aug 10 response, details of "Certain Matters Not Closed" not provided

Provide exact reasons for which audit committee has not approved results

Again ask you to give us date when board meet to consider results will be held

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