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Companies make 2024 the year of cost cuts
Mathisworks | Digitalvision Vectors | Getty Images Corporate America has a message for Wall Street: It’s serious about cutting costs this year. From toy and cosmetics makers to office software sellers, executives across sectors have…
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Wells Fargo (WFC) earnings Q4 2023
Wells Fargo shares fell Friday even after fourth-quarter profit rose from a year ago, as the bank warned that net interest income for 2024 could come in significantly lower year over year. “As we look…
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Heavily shorted online used car seller Carvana surges 20%, is halted several times
A Carvana used car “vending machine” on May 11, 2022 in Miami, Florida. Joe Raedle | Getty Images Shares of online used car retailer Carvana surged Thursday amid a wild trading session in which several…
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Despite the Fed’s big rate hike, most banks won’t pay much in interest
Jerome Powell, Federal Reserver Governor. Katie Kramer | CNBC The Federal Reserve just raised its benchmark interest rate by half a percentage point, its largest such move in more than two decades, as it seeks…
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Bank stocks, once a Buffett favorite, take a back seat at Berkshire Hathaway
Warren Buffett, Chairman and CEO of Berkshire Hathaway. David A. Grogan | CNBC Warren Buffett has begun to unleash Berkshire Hathaway‘s massive cash stockpile in recent weeks, snapping up an insurer and multi-billion dollar stakes…
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Capital One says it’s ditching all consumer overdraft fees
Capital One says it is eliminating all overdraft fees for retail banking customers. It’s the largest U.S. bank yet to end the industry practice of charging customers a hefty fee, typically $25 to $35 in…
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Wells Fargo has a new virtual assistant in the works named Fargo
A Wells Fargo logo is seen at the SIBOS banking and financial conference in Toronto Chris Helgren | Reuters Wells Fargo is developing a virtual assistant to help it convert more retail banking customers into…
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