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Wells Fargo

Wells Fargo beats profit estimates on uptick in loan demand, cost cuts

Wells Fargo & co on Friday beat analysts' estimates for fourth-quarter profit as a rebound in U.S. economic...

Published 14 Jan, 2022 11:08pm

Markets

Wall Street climbs in upbeat start to 2022

NEW YORK: US stock indexes inched higher on Monday, looking to extend a market recovery from the pandemic shock into...

Published 04 Jan, 2022 06:54am

Business & Finance

Citigroup posts 48pc jump in profit on reserve release

NEW YORK: Citigroup Inc on Thursday reported a 48% jump in third-quarter profit that comfortably beat market...

Published 15 Oct, 2021 04:08am

Markets

S&P 500 ends lower after U.S. September jobs miss

The S&P 500 ended lower on Friday after data showed weaker jobs growth than expected in September, yet investors...

Published 09 Oct, 2021 01:45am

Fed must break up Wells Fargo: Warren

WASHINGTON: US Senator Elizabeth Warren on Tuesday called on the Federal Reserve to break apart Wells Fargo, arguing...

Updated 15 Sep, 2021 10:02am

Business & Finance

Wells Fargo gets $250m fine for failing to pay back hurt customers

WASHINGTON: US bank Wells Fargo on Thursday was hit with a new fine - $250 million for failing to meet requirements...

Published 13 Sep, 2021 05:46am

Markets

Wells Fargo gets $250mn fine for failing to pay back hurt customers

The penalty was set by the Comptroller of the Currency (OCC), one of the main US banking sector regulators

Published 10 Sep, 2021 09:52am

Business & Finance

US yield curve steepens as wages increase, jobs growth disappoints

NEW YORK: Longer-dated US Treasury yields rose on Friday and the yield curve steepened after data showed wages...

Published 06 Sep, 2021 06:14am

Markets

More US finance giants tiptoe into cryptoassets

The chief executives of Wells Fargo, Citigroup and Bank of America said at a congressional hearing in late May that they are approaching the cryptocurrency landscape with caution.

Published 13 Jun, 2021 11:07am

Business & Finance

Wells Fargo launches 10-year plan to boost banking inclusion for underserved communities

As part of the plan, the bank has committed to locating 100 branches in low-to-middle income neighborhoods.
Banks are under pressure from lawmakers and advocates to increase financial inclusion and access to banking services for underserved communities.

Published 17 May, 2021 07:53pm

Markets

US stocks charge to new records on strong bank profits, retail sales

Germany's gross domestic product will expand by 3.7 percent this year, according to five economic think tanks, revising down more optimistic predictions by one percentage point.

Published 16 Apr, 2021 10:02am

Business & Finance

US banks ride strengthening economy to blowout Q1 profits

NEW YORK: Profits soared in the first quarter at three US banking giants thanks to an improving macroeconomic...

Updated 15 Apr, 2021 10:07am

Business & Finance

Wells Fargo profit beats estimates as credit costs stabilize

The fourth-largest US lender said profit rose to $4.74 billion, or $1.05 per share, in the three months ended March, from $653 million, or 1 penny per share, a year earlier.
Since then, an ultra-loose monetary policy, trillions in stimulus support and an accelerated vaccination program have largely put the world's largest economy on a more solid footing.

Published 14 Apr, 2021 05:13pm

Business & Finance

Wells Fargo to sell corporate trust business to Australia's Computershare for $750mn

Wells Fargo's CTS is also expected to generate a return of more than 15% on invested capital by fiscal 2025, Computershare said.

Published 24 Mar, 2021 01:12pm

Business & Finance

Auto parts maker Holley to merge with blank-check firm in $1.55bn deal

PE firm MidOcean Partners, which formed the blank-check, has also agreed to invest $50 million in the deal through its MidOcean Fund V.
The transaction is expected to close in the second quarter of 2021. Following that, Holley will be listed on the New York Stock Exchange under the symbol "HLLY".

Published 12 Mar, 2021 06:02pm

Markets

Gold prices edge higher as US Treasury yields retreat

US bank Wells Fargo said it has expanded its precious metals trading business, filling gaps in the market left by the withdrawal of Bank of Nova Scotia (Scotiabank).

Published 02 Mar, 2021 10:02am

Business & Finance

Wells Fargo expands in precious metals after Scotiabank exit

Scotiabank was for years the biggest global lender to the physical precious metals industry. It decided in 2018 to downsize and last year to exit the sector.
Other banks to have taken on Scotia staff since it began to shrink include Canada's Bank of Montreal (BMO) and Royal Bank of Canada (RBC).

Published 01 Mar, 2021 08:15pm

Markets

Canadian dollar notches near 3-year high as commodities rally

Bank of Canada Governor Tiff Macklem is due to speak on Tuesday on the impact of the coronavirus crisis on the labor market.

Published 23 Feb, 2021 11:14am

Markets

U.S. dollar rises on weaker euro, Swiss franc and yen

The dollar index was up 0.21pc to 90.815 at mid-morning in New York, while the euro was off 0.36pc to $1.209.

Published 02 Feb, 2021 01:00am

Business & Finance

TD Bank to buy Wells Fargo's Canadian Direct Equipment Finance business

The Canadian Direct Equipment Finance business has about C$1.5 billion in assets and provides loans and leases for commercial equipment bought by businesses across Canada.
The deal is expected to close in the first half of 2021.

Published 14 Jan, 2021 09:03pm

Business & Finance

Wells Fargo CEO to unveil cost-cutting plan

Wells Fargo management has promised transformation since its 2016 fraudulent account scandal with little to show for the effort.
In a sign of progress repairing Wells Fargo's relationship with regulators.

Published 14 Jan, 2021 06:07pm

Business & Finance

Wells Fargo PAC to pause political contributions for 'foreseeable future'

"We will take into consideration the actions of elected officials who objected to the Electoral College vote.

Published 13 Jan, 2021 11:22am

Business & Finance

High costs haunt Wells Fargo results years after scandal

"Why is that the number?" asked UBS analyst Saul Martinez about Wells' core cost guidance. "Because you haven't been anywhere near that number for five years."
That is what I said and I was wrong when I said it," Shrewsberry told reporters on a call discussing results,

Published 14 Oct, 2020 11:49pm

Business & Finance

Wells Fargo profit falls as pandemic hits growth

The bank reported net income applicable to common stock of $1.72 billion, or 42 cents per share, for the quarter ended Sept. 30, compared with $4.04 billion, or 92 cents per share a year earlier.

Published 14 Oct, 2020 05:32pm

Markets

US bank regulator fines three former Wells Fargo executives over sales scandal

The Office of the Comptroller of the Currency announced it had imposed the fines on three former executives from the bank's community bank arm.
The fines come nine months after the regulator imposed fines on eight other former bank executives, including former CEO John Stumpf.

Published 22 Sep, 2020 01:55am

Markets

Wells Fargo signs multi-year contracts with Shell for clean energy

The agreements would involve the development of new utility-scale solar installations in several counties, the lender said in a statement.
Many corporates have committed billions of dollars to fund green projects and pledged to reduce their carbon foo

Published 24 Jun, 2020 07:39pm

Forex
World
Commodity

Currency	Rate
USD PKR Interbank Selling / Apr 26	278.58
USD PKR Interbank Buying / Apr 26	278.28
USD to Japanese Yen / Apr 26	156.17
USD to Swiss Franc / Apr 26	0.91
Pound Sterling to USD / Apr 26	1.25
Euro to USD / Apr 26	1.07

Stock	Volume
S&P 500 / Apr 25	5048.42
Nasdaq / Apr 25	15611.76
Dow Jones / Apr 25	38085.80
India Sensex / Apr 26	74171.68
Tokyo Nikkei / Apr 26	37934.72
Hang Seng / Apr 26	17626.75
FTSE 100 / Apr 26	8123.98
Germany DAX 30 / Apr 26	18016.27

Item	Value
Karachi Cotton PKR/37.32 KG / Apr 25	20535
Gold 10 Grams PKR / Apr 25	240900
Petrol/Litre / Apr 26	293.94
Crude Oil USD/Barrel / Apr 26	83.89
Gold Spot USD/Ounce / Apr 26	2336.33
Diesel/Litre / Apr 26	290.38

Gainers
Losers
Leaders

Stock	Price
786 Invest Ltd / Apr 26 786 Investments Limited(786)	5 ▼ 0.00 (0.00%)
AL-Abbas Sugar / Apr 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▼ 0.00 (0.00%)
Agro Allianz / Apr 26 Agro Allianz Limited(AAL)	16 ▼ 0.00 (0.00%)
AL-Abid Silk / Apr 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▼ 0.00 (0.00%)
Ali Asghar / Apr 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▼ 0.00 (0.00%)
Allied Bank / Apr 26 Allied Bank Limited(ABL)	87.10 ▼ 0.00 (0.00%)
Abbott Lab. / Apr 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▼ 0.00 (0.00%)
Abson Ind. / Apr 26 Abson Industries Limited(ABSON)	2.50 ▼ 0.00 (0.00%)
Alfalah ETF. / Apr 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▼ 0.00 (0.00%)

Stock	Price
786 Invest Ltd / Apr 26 786 Investments Limited(786)	5 ▲ 0.00 (0.00%)
AL-Abbas Sugar / Apr 26 Al-Abbas Sugar Mills Limited(AABS)	585 ▲ 0.00 (0.00%)
Agro Allianz / Apr 26 Agro Allianz Limited(AAL)	16 ▲ 0.00 (0.00%)
AL-Abid Silk / Apr 26 Al-Abid Silk Mills Limited(AASM)	3.49 ▲ 0.00 (0.00%)
Ali Asghar / Apr 26 Ali Asghar Textile Mills Limited(AATM)	2.07 ▲ 0.00 (0.00%)
Allied Bank / Apr 26 Allied Bank Limited(ABL)	87.10 ▲ 0.00 (0.00%)
Abbott Lab. / Apr 26 Abbott Laboratories (Pakistan) Limited(ABOT)	499.34 ▲ 0.00 (0.00%)
Abson Ind. / Apr 26 Abson Industries Limited(ABSON)	2.50 ▲ 0.00 (0.00%)
Alfalah ETF. / Apr 26 Alfalah Consumer Index ETF.(ACIETF)	9.84 ▲ 0.00 (0.00%)

Stock	Volume
P.I.A.C.(A) / Apr 26 Pakistan International Airlines Corp(PIAA)	47,200,500 ▲ 0.00
Cnergyico PK / Apr 26 Cnergyico PK Limited(CNERGY)	29,719,327 ▲ 0.00
Pak Petroleum / Apr 26 Pakistan Petroleum Limited(PPL)	21,170,581 ▲ 0.00
Pak Refinery / Apr 26 Pakistan Refinery Limited(PRL)	16,965,134 ▲ 0.00
The Searle Co. / Apr 26 The Searle Company Limited(SEARL)	15,793,227 ▲ 0.00
P.T.C.L. / Apr 26 Pakistan Telecommunication Company Ltd(PTC)	15,054,641 ▲ 0.00
K-Electric Ltd. / Apr 26 K-Electric Limited(KEL)	14,145,556 ▲ 0.00
WorldCall Telecom / Apr 26 Worldcall Telecom Limited(WTL)	13,158,668 ▲ 0.00
Telecard Limited / Apr 26 Telecard Limited(TELE)	12,358,668 ▲ 0.00

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