Wells Fargo starts to emerge from sales scandal as first-quarter profit jumps
Reuters | Apr 15, 2021 12:57 AM EDT
A Wells Fargo logo is seen in New York City, U.S. (Photo : REUTERS/Stephanie Keith/File Photo)
Wells Fargo & Co beat Wall Street profit expectations on Wednesday as it reduced bad loan provisions and reined-in costs, signaling the bank may finally be emerging from a sales practices scandal that has dogged it for nearly five years.
Profits at the country s fourth-largest lender rebounded to nearly $5 billion in the first quarter of 2021 as the improved economic outlook allowed it to cut its cushion for losses on pandemic-hit loans by $1.6 billion, and as it got a grip on costs relating to fixing its product mis-selling scandals.
Srinagar (Jammu and Kashmir) [India], April 12 (ANI): Lieutenant Governor of Jammu and Kasmir Manoj Sinha on Sunday announced that the UT administration would provide tablets with pre-loaded educational content to the students living in higher altitudes without any discrimination.
Death toll from Bangladesh ferry disaster jumps to 26
National
April 6, 2021
NARAYANGANJ: The death toll from a ferry disaster in Bangladesh jumped to 26 on Monday after rescuers pulled the vessel out of the water and found more bodies inside, officials said Monday.The sunken ferry was extracted from the heavily polluted Shitalakshya River in the central district of Narayanganj as hundreds of onlookers of the missing watched from the shore.
U.S. Manufacturing Index Jumps To 37-Year High In March
WASHINGTON (dpa-AFX) - A report released by the Institute for Supply Management on Thursday showed the pace of growth in U.S. manufacturing activity accelerated by much more than anticipated in the month of March.
The ISM said its Manufacturing PMI jumped to 64.7 in March from 60.8 in February, with a reading above 50 indicating growth in manufacturing activity. Economists had expected the index to inch up to 61.3.
With the much bigger than expected increase, the Manufacturing PMI reached its highest level since hitting 69.9 in December of 1983.
Despite the strong growth, Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee, noted companies and suppliers continue to struggle to meet increasing rates of demand due to the coronavirus pandemic limiting the availability of parts and materials.
WASHINGTON (dpa-AFX) - Stocks showed a strong move to the upside during trading on Thursday, with technology stocks helping to lead the way higher once again. With the upward move, the S&P 500