It is the new epicenter. It is spreading like wild fire. The Oil Price Wars raging on this morning. Saudi arabia says it will boost production to the max, 13barrels a day as russia is increasing production as well. Mornings with maria is live right now. All right, we want to start with Global Markets this morning. Ftse 100 up 50 points. Cac quarante up 83 82. The bank of england announcing an emergency rate cut this morning, 50 basis points, bringing that rate down to a quarter of a percent, thats from the bank of england. In ash overnight red across the board. Take a look at the story. Worst performer here was korea as well as japan down better than 2 a piece. Back here at home 10year yield falling, down another 10 basis points this morning at. 711. The countrys lockdown moving toward shutdown in italy. Signs more severe restrictions could be impose today stop the spread of coronavirus throughout italy and europe. New york is taking drastic measures as well. Creating a socalled contai
The senator, who is charged with bribery, asked bank CEOs how much money the Consumer Financial Protection Bureau had fined each of them. They didn't know.
Wells Fargo has confirmed that on Friday it eliminated jobs related to its mortgage-lending business, just eight days after the bank reported the largest quarterly drop in net income in nearly a decade. The bank has not disclosed how many mortgage-lending positions were eliminated, nor the costs associated with the eliminations.
Wells Fargo reported first quarter 2022 net income of $3.7 billion, or 88 cents per diluted share. Those numbers are down 20.8% from $4.6 billion and $1.02 per diluted share in the first quarter of 2021. While not disclosing exact dollar amounts, Wells Fargo CEO Charles Scharff said on an earnings call today that higher interest rates had a negative impact on the bank’s mortgage origination business. He described it as “one of largest declines I can remember.”