Year: 2020

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Wells Fargo Asset Cap Is Now One of the Costliest Bank Penalties

August 24, 2020 admin Comments Off on Wells Fargo Asset Cap Is Now One of the Costliest Bank Penalties

(Bloomberg) — Hitting banks with multibillion-dollar fines grabs headlines, but a Federal Reserve cap on Wells Fargo & Co.’s assets is becoming the industry’s true terror.The wonky sanction devised by the Fed in early 2018 to force Wells Fargo to address a series of scandals is turning into one of the costliest punishments ever levied by a single regulator. By one method of estimating, Wells Fargo has missed out on roughly $4 billion in profits — and counting — since the cap was imposed, and it’s unclear when the Fed will lift it.That figure calculated by Bloomberg is based on …read more […]

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Delta Plans to Follow United With Debt Backed by Loyalty Program

August 24, 2020 admin Comments Off on Delta Plans to Follow United With Debt Backed by Loyalty Program

(Bloomberg) — Delta Air Lines Inc. is preparing to issue new debt backed by its frequent-flyer program, the latest to use miles to help boost liquidity amid the Covid-19 pandemic.The airline is set to market new loans and bonds secured by its SkyMiles loyalty program after the U.S. Labor Day holiday on Sept. 7, according to people with knowledge of the matter. The size of the deal and terms, including yield, are still being finalized and could change, said one of the people, asking not to be identified discussing a private matter.A spokesman for Atlanta-based Delta declined to comment.The deal …read more […]

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These 3 Stocks Have Big 5G Growth Potential, Say Analysts

August 24, 2020 admin Comments Off on These 3 Stocks Have Big 5G Growth Potential, Say Analysts

Pundits and prognosticators like to talk about ‘revolutions,’ but what they usually mean by that is just ‘change.’ Some changes, however, truly are revolutionary, in their potential to forever alter the landscape that produced them. The ongoing rollout of 5G is one of these.At first glance, 5G seems like just another step in the evolution of wireless networking– it’s like what came before, only faster. But digging deeper, 5G networks, based on higher radio frequencies into the millimeter waveband, will offer download speeds up to a gigabit per second, with further advantages gained through latency rates. The new networks will …read more […]

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EPA approves a virus-killing coating for American Airlines, studies use by schools

August 24, 2020 admin Comments Off on EPA approves a virus-killing coating for American Airlines, studies use by schools

The U.S. Environmental Protection Agency said on Monday it has granted emergency approval for American Airlines to use a disinfectant against the coronavirus on certain surfaces that lasts for up to seven days, and is studying whether it could be effective in places like schools. EPA Administrator Andrew Wheeler said at a news briefing that SurfaceWise2, made by Allied BioScience Inc, is the first long-lasting product approved by the agency to help fight the spread of the novel coronavirus. American Airlines will begin spraying its airplane cabins with the disinfectant in its home base of Texas after the …read more […]