Three Wells Fargo ATM’s on 14th street, New York City. Lindsey Nicholson | Universal Images Group | Getty Images Wells Fargo reported growing profits Friday as the bank benefited from higher interest rates, despite building up loan loss reserves. Here’s how the bank did compared with Refinitiv estimates: Earnings per […]
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Fears mount that Europe’s commercial real estate sector could be the next to blow
Investors are questioning the health of the commercial real estate sector following a string of recent banking crises. Mike Kemp | In Pictures | Getty Images Concerns are mounting around the health of Europe’s commercial real estate market, with some investors questioning whether it could be the next sector to […]
Surprise oil output cuts from OPEC+ could hurt consumers and derail the economic recovery, IEA warns
In its latest monthly oil market report, the IEA said the energy alliance’s self-described “precautionary move” was likely to spell bad news for consumers at a time of heightened economic uncertainty. Hussein Faleh | Afp | Getty Images The International Energy Agency on Friday warned surprise oil output cuts from […]
JPMorgan Chase is set to report first-quarter earnings – here’s what the Street expects
Jamie Dimon, chairman and chief executive officer of JPMorgan Chase & Co., during a Bloomberg Television interview at the JPMorgan Global High Yield and Leveraged Finance Conference in Miami, Florida, US, on Monday, March 6, 2023. Marco Bello | Bloomberg | Getty Images JPMorgan Chase is scheduled to report first-quarter […]
Fed Chair Powell meets Chinese counterpart Yi Gang
Jason Lee | Reuters BEIJING — The heads of the U.S. and Chinese central banks met in Washington, D.C., on Tuesday, the People’s Bank of China said in a statement Friday. PBoC Governor Yi Gang and U.S. Federal Reserve Chair Jerome Powell “exchanged views” on China-U.S. economic and financial trends, […]
Judge lets Trump lawyers question rape accuser E. Jean Carroll on LinkedIn founder funding
A federal judge on Thursday said he will allow lawyers for Donald Trump to question his rape accuser, the writer E. Jean Carroll, under oath about the funding of her lawsuit provided by LinkedIn co-founder and major Democratic donor Reid Hoffman. But Judge Lewis Kaplan rejected a related request by […]
China’s ‘Belt and Road’ grew out of a lending spree. Now those loans may be its problem
Workers prepare reinforcing steel at the One Galle Face project developed by China Harbour Engineering, a unit of China Communications Construction, in Colombo, Sri Lanka, on March 31, 2018. Bloomberg | Getty Images At its peak, China’s Belt and Road Initiative was seen as the centerpiece of Beijing’s engagement with […]
Walmart sells Bonobos to WHP Global and Express in $75 million deal
A garment factory worker packing Bonobos brand shirts in a factory in Hanoi, Vietnam. Manan Vatsyayana | AFP | Getty Images Walmart has sold menswear brand Bonobos to brand management firm WHP Global and Express in a $75 million deal announced Thursday. It’s the second time this year Walmart has […]
Boeing warns of reduced 737 Max production and deliveries due to parts issue
Boeing 737 Max airplanes sit parked at the company’s production facility on November 18, 2020 in Renton, Washington. David Ryder | Getty Images Boeing on Thursday warned of reduced 737 Max production and deliveries in the near term due to a parts issue originating with a supplier, Spirit AeroSystems. “This […]
A flurry of news outside the portfolio has implications for 3 of our stocks
First-quarter earnings season is about to kick off, and investors should be prepared to be inundated with endless headlines, news stories and analyses — some more useful than others — about a myriad of companies. While our general focus is on the 35 stocks currently in Jim Cramer’s Charitable Trust, […]