Shares of Wells Fargo & Co reversed course to trade lower on Friday after the lender cut its 2019 net interest income forecast and said it would not provide a timeline on when a Federal Reserve cap on balance sheet growth will be lifted.
Wells Fargo & Co’s aggressive cost cutting helped boost its quarterly profit, but shares in the lender fell 3 percent on Friday after it dialed back its forecast for how much net interest income it would bring in this year.
BlackRock Inc, the world’s largest asset manager, cut total compensation for chairman and chief executive officer Larry Fink by 4.3% in 2018, according to a filing on Friday.
The European Commission has drawn up a list of U.S. imports worth around 20 billion euros ($22.6 billion) that it could hit with tariffs over a transatlantic aircraft subsidy dispute, EU diplomats said.
Global stock markets rose on Friday after JP Morgan’s results kicked off the U.S. corporate earnings season in style, while signs of stabilization in China’s economy also helped riskier assets on views the growth outlook worldwide is better than thought.
The S&P 500 crossed the 2,900 mark for the first time since early October on Friday, boosted by a jump in Walt Disney shares and as bank stocks surged after strong results from JPMorgan.
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The U.S. auto safety agency is probing reports of potential unintended braking in 675,000 2017-2018 Nissan Motor Co Ltd Rogue vehicles, it said on Friday.
Wells Fargo & Co’s aggressive cost cutting helped boost its quarterly profit, but shares in the lender fell after it dialed back its outlook for how much net interest income it would bring in this year.
Bristol-Myers Squibb Co’s shareholders voted to approve the drugmaker’s $74 billion takeover of biotech Celgene Corp on Friday despite a campaign by activist hedge fund Starboard Value LP to scuttle the deal.
JPMorgan Chase & Co posted a better-than-expected quarterly profit on Friday, easing fears that slowing economic growth could weigh on its results.
Mexican government and business leaders meet with their U.S. counterparts for a second straight day on Friday, seeking to hasten ratification of a trade deal, resolve border delays that are hurting exporters, and discuss metals tariffs.
The S&P 500 crossed the 2,900 mark for the first time since early October on Friday, boosted by a jump in Walt Disney shares and as bank stocks surged after strong results from JPMorgan.
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The European Commission said on Friday it had approved Japanese firm Nidec’s planned purchase of U.S. white goods maker Whirlpool Corp’s compressor subsidiary Embraco, subject to conditions.
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