Wells Fargo missed third-quarter earnings estimates after posting a continued drop in net interest income. The bank cited the"lower interest rate environment" for the figure's decline. Wells Fargo stock fell as much as 1.2% following the report's release. Wells Fargo also announced a $1.6 billion expense related to its sales malpractice litigation. The bank remains steeped in controversy following its 2016 fake account scandal.
Wells Fargo missed third-quarter earnings estimates after posting a continued drop in net interest income. The bank cited the"lower interest rate environment" for the figure's decline. Wells Fargo stock fell as much as 1.2% following the report's release. Wells Fargo also announced a $1.6 billion expense related to its sales malpractice litigation. The bank remains steeped in controversy following its 2016 fake account scandal.
teejayx6
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wells Fargo earnings expected before the bell, as new CEO is set to takeover next weekWells Fargo earnings expected before the bell with new CEO set to takeover next week. Last month, the bank's board of directors named Charles Scharf as CEO and president. Hope he fixes Wells Fargo for good! WellsFargo has chosen Charlie Scharf as its new CEO, with a large pay package. equilarinc will track the compensation and composition of the Wells Fargo executive suite as well as thousands of others. Visit to learn more. $WFC CorpGov
Source: CNBC - 🏆 12. / 72 Read more »
Crossing The $1 Billion Mark In Funding For Female EntrepreneursA nonprofit has crossed the $1 billion mark of deploying microloans to female entrepreneurs across the world. Access to finance remains a particular challenge for female entrepreneurs, but Kiva's journey shows what can be done about this. 🙌🙌 Give a woman the means, she inspires a nation!
Source: ForbesWomen - 🏆 477. / 51 Read more »
Why this plant-based meat company turned down a $1 million from Mark Cuban on 'Shark Tank'On Sunday's 'Shark Tank,' Jonathan and Deborah Torres, founders of Atlas Monroe, believed their 100% vegan, plant-based twist on fried chicken was worth far more than the Sharks did. MakeIt I will save you all a read: they wanted the whole co for a mil (plus they'd get a royalty) but a mil isn't much nowadays so they passed. MakeIt Because they thought they’d be the next $BYND. And if $BYND has shown anything, it’s you can lose $$$ and still be worth $8 billion.
Source: CNBC - 🏆 12. / 72 Read more »
She was the First Muslim in Space and Now She's Mobilizing $1 Billion to Support Female-Founded Companies - The RiveterBusinesses founded by women yield more than double the revenue of those founded by men. Yet in the U.S., women-founded companies receive less than 2% of venture capital investments. Is the fear of investing in female potential pushing up against data proving otherwise? Most certainly yes, says Anousheh Ansari, CEO of XPRIZE, a leading nonprofit …
Source: Women 2.0 - 🏆 149. / 63 Read more »