Wells Fargo (WFC) is still in the middle of its long-journey amid government-supervised restructuring and has seen little interesting activity as of late. However for investors, as the financial services sector (XLF) this past month has seen a significant downturn, Wells Fargo surprisingly has been at the topic of the pack in terms of return. READ MORE
Wells Fargo's $33 Billion Capital Return Plan Is A New Record For U.S. Banks
Wells Fargo is looking to return almost $33 billion in cash to shareholders over the next twelve months – a record for any U.S. bank, and slightly better than the $31.5 billion capital return plan posted by its larger peer JPMorgan after the Fed released results for the annual stress test for banks late last week. Wells Fargo will hike its quarterly dividends from the current level of 39 cents a share to 43 cents a share, which works out to total dividends of ~$8.3 billion assuming average outstanding shares of 4.85 billion. Taken together with the new $22 billion share buyback program, this equals the record $32.8 billion payout. Notably, this represents a 73% jump compared to the bank’s plan to return $19 billion last year. READ MORE
Crying migrant girl on TIME magazine cover was not separated from mother, family says
A little girl shown in a viral photo crying as a U.S. Border Patrol agent detained her mother – and used by TIME magazine to symbolize the Trump administration's family separation policy – reportedly was never separated from her mom. READ MORE
Here’s What Meredith Is Doing With Some of the Time Inc. Titles It Inherited
Months after Meredith completed its acquisition of Time Inc., the company is narrowing down finalists among dozens of bids submitted for four of the brands it looks to sell. The company then plans to invest in other titles more closely aligned with its portfolio of lifestyle, celebrity and entertainment brands. READ MORE
Wells Fargo is retreating from the Midwest.
he bank, scrambling to cut costs and dealing with a wave of scandals, announced plans Tuesday to sell all of its branches in Indiana, Michigan and Ohio. Wells Fargo, the second-largest bank in the country, will no longer have a retail presence in those states. READ MORE
Retirement readiness a worldwide issue, Aegon survey finds
Most online quizzes are relatively mindless, promising to reveal what vegetable, sandwich or rock band best represents your personality. That was not the case for a short online test given to more than 14,000 people in 15 countries this year. It revealed just how unprepared a good chunk of the world is for retirement. READ MORE
Meredith Corporation Moves Lower on Volume Spike for June 04
Meredith Corporation (MDP) traded on unusually high volume on Jun. 04, as the stock lost 3% to close at $48.55. On the day, Meredith Corporation saw 1.11 million shares trade hands on 8,780 trades. Considering that the stock averages only a daily volume of 655,008 shares a day over the last month, this represents a pretty significant bump in volume over the norm. READ MORE
Microsoft will spend a whopping $7.5 billion to buy GitHub, a startup at the center of the software world
Microsoft is buying GitHub, a massive software-development platform with 24 million users, for $7.5 billion.
The deal is expected to pass regulatory review and close by the end of 2018. GitHub's most recent private valuation, as of 2015, put the software company at about $2 billion, after raising $350 million in venture capital since its founding in 2008. READ MORE
Wells Fargo Exposing Itself To Potential Losses For Near-Term Gains By Expanding Auto Business
Wells Fargo is looking to grow its auto lending business again, after spending the last two years shrinking the unit. Wells Fargo slashed its auto loan portfolio over 2016-2017 primarily due to a sharp increase in charge-off rates from an increase in sub-prime auto lending. The U.S. banking giant continued to divest its auto loans early this year with the sale of its auto finance business in Puerto Rico (Reliable Financial Services) to Banco Popular de Puerto Rico. READ MORE
Wells Fargo’s Timeout, Lobbying Largesse
It just got a little harder for Wells Fargo to get out of the penalty box. The Federal Reserve in February barred Wells from increasing its assets until it develops a plan to prevent future customer abuses. READ MORE
Apple made more profit in three months than Amazon has generated during its lifetime
One word may explain Warren Buffett's investment decisions on Apple and Amazon: profit.
Last week Buffett both lamented on not investing in Amazon shares and revealed how he added massively to Berkshire Hathaway's stake in Apple. READ MORE
Public Pension Fund Files Complaint Against Wells Fargo Over Compensation Received
The bank admitted that because of “a system error,” revenue sharing payments were not credited to the retirement fund, but says the error has been fixed. READ MORE
Kemin Nutrisurance Adds "Health and Nutrition" Product Segment to Better Serve Pet Food Industry
Kemin Nutrisurance, the pet food and rendering technologies division of Kemin Industries, a global nutritional ingredient company that uses science to touch 3.8 billion people every day with its products and services, recently expanded its innovative product range, which addresses freshness, food safety, palatability and now, health and nutrition. READ MORE
Aegon conquered by UK bank holiday IT upgrade: Some users can't log on
Some customers of life insurance, pensions and asset management biz Aegon have been unable to log into their accounts following an IT upgrade over the bank holiday weekend. READ MORE
Your boss wants you to take a vacation
America's workers are leaving vacation time on the table, and they're paying a price for it. According to Project: Time Off's latest State of American Vacation 2018, the American workforce gave up 705 million vacation days last year alone. READ MORE
Meredith swings to loss after Time deal
Meredith Corp. MDP, +0.68% on Thursday gave its first quarterly report since closing its acquisition of Time Inc. Here's what you need to know: READ MORE
Wells Fargo’s 401(k) Practices Probed by Labor Department
The Labor Department is examining whether Wells Fargo WFC -0.92% & Co. has been pushing participants in low-cost corporate 401(k) plans to roll their holdings into more expensive individual retirement accounts at the bank, according to a person familiar with the inquiry. READ MORE
Deere to build new test lab at Iowa State University
Deere & Co. announced plans Wednesday to build a new design and test lab at Iowa State University Research Park, Ames, to test its agricultural spraying and applications technologies.
The 33,000-square-foot facility is expected to be completed by the summer of 2019. The investment was not disclosed. READ MORE
Time Inc. Saw a Hopeful Future With Meredith. Now They’re Seeking a New Savior.
Usually, for the scribes lucky enough to go, the Time 100 Gala is a chance to score selfies with selected A-listers and indulge in top-shelf liquor at an open bar.
But at this year’s event, which is on Tuesday, employees of the nation’s most famous newsweekly may come armed with another mission: sidling up to one of the black-tie billionaires in attendance and convincing them of how much fun it would be to stop being a guest at the annual fête at Lincoln Center and to start putting the party on themselves. READ MORE
Wells Fargo blasted by shareholders for series of abuses
"This company has harmed and wounded millions of its customers," activist shareholder Sister Nora Nash said at the bank's annual shareholder meeting.
Demonstrators gathered outside the meeting in Des Moines, Iowa, to protest Wells Fargo's various scandals as well as its financing for fossil fuel projects and gun manufacturing. READ MORE
Quisque iaculis facilisis lacinia. Mauris euismod pellentesque tellus sit amet mollis.