News with the tag "Wells Fargo"

The chief economist at banking giant Wells Fargo, Jay Bryson, is warning that America is awfully close to entering an economic recession. In a new interview on CNBC’s Squawk Box, Bryson says he’s not forecasting a recession at this time, but it wouldn’t take much more negative economic data to chang...

Wells Fargo is updating its outlook on Ares Management Corporation (ARES), reportedly issuing a bullish forecast for the $52 billion global alternative investment manager. Wells Fargo analyst Michael Brown is raising Ares’s price target from $182 to $189, while reiterating an overweight rating, repo...

The top four US banks have seen their assets grow in the past three months by a whopping $681.71 billion, according to market intelligence firm S&P Global. S&P Global says that the combined assets of JPMorgan Chase, Bank of America, Citibank and Wells Fargo ballooned by 5.9%, or $681.71 billion, in ...

Major U.S. banks are weighing launching a joint stablecoin to fend off crypto competition. Financial heavyweights like JPMorgan Chase (JPM), Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC), have held discussion on the subject, the Wall Street Journal reported , citing people familiar wit...

The country’s largest commercial banks are in early talks to create a jointly issued stablecoin, an effort aimed at defending their dominance in the payments ecosystem as cryptocurrency adoption and regulatory support grow under the Trump administration, The Wall Street Journal has reported . The di...

Moody’s has downgraded deposit ratings of top US lenders JPMorgan Chase, Bank of America and Wells Fargo just days after stripping the nation of its triple-A rating. In a new report by Bloomberg, the lenders’ long-term deposit ratings were lowered to Aa2, a one-step decrease and Moody’s third-highes...

Billionaire Warren Buffett just sold about $3.23 billion of Berkshire Hathaway’s stake in Citigroup, Bank of America and Capital One. After eliminating Berkshire Hathaway’s stake in JPMorgan Chase and Wells Fargo in recent years, new filings show Buffett continues to place US banks on the chopping b...

A man living in Phoenix, Arizona is heading to prison after allegedly using fraudulent accounts at JPMorgan Chase, Wells Fargo, Bank of America and BBVA to launder millions of dollars. Investigators say US resident and Nigerian citizen Kingsley Ibhadore stole nearly $3 million in a romance scheme ta...

Wells Fargo is updating its outlook on Uber (UBER), reportedly forecasting an explosive share price for the $173 billion ride-hailing company. In a new note to clients, Wells Fargo’s Ken Gawrelski and other analysts raise Uber’s price target to $100 from $90 and reiterate an overweight rating, repor...

For anyone navigating the dynamic world of finance, including the cryptocurrency space, understanding the pulse of major global currencies like the US Dollar is crucial. The US Dollar’s recent performance, marked by a notable dollar selloff , has captured significant attention. Many are wondering if...