U.S. home resales fell more than expected in April, weighed down by a chronic shortage of houses on the market that is keeping prices elevated and sidelining prospective buyers.
A federal judge signaled that he may reject parts of Wells Fargo & Co.’s proposed $142 million settlement with customers for whom it opened millions of unauthorized accounts.
U.S. homebuilding unexpectedly fell in April amid a persistent decline in the construction of multifamily housing units and a modest rebound in single-family projects, pointing to a slowdown in the housing market recovery.
The city of Philadelphia sued Wells Fargo & Co. on Monday, accusing the largest U.S. mortgage lender of predatory lending, which violates the federal Fair Housing Act.
Wall Street is waiting to find out exactly how much more money Wells Fargo & Co. management plans to save through cost cuts when top executives give six hours of presentations at the bank’s investor day on Thursday.
The Republican-controlled U.S. House of Representatives plans to turn to tax reform in earnest, after concluding a lengthy health care debate this week with a vote to repeal and replace Obamacare.
Morgan Stanley, the largest U.S. brokerage by salesforce, said on Wednesday it is dropping mutual funds from Vanguard Group, the largest U.S. mutual fund firm.
New U.S. single-family home sales surged to an eight-month high in March, pointing to underlying strength in the economy despite an apparent sharp slowdown in growth in the first quarter.
U.S. home resales rose more than expected in March to the highest level in more than a decade as more homes came on the market and were quickly snapped up by consumers.
New applications for U.S. jobless benefits rose slightly more than expected last week, but a drop in the number of Americans on unemployment rolls to a 17-year low suggested the labor market continues to tighten.
Morgan Stanley reported a 74 percent jump in quarterly profit on Wednesday, topping analysts’ estimates as revenue from bond trading nearly doubled following interest rate hikes by the Federal Reserve.
U.S. homebuilding fell more than expected in March as the construction of single-family homes in the Midwest recorded its biggest decline in three years, but an increase in building permits suggested the housing market recovery remained intact.
Big U.S. banks revealed more evidence of a slowdown in loan growth in their earnings reports on Thursday, though executives assured there is still healthy demand from borrowers and no reason to worry about the state of the economy.
Wells Fargo & Co., which has been mired in litigations stemming from a sales scandal, posted a nearly flat first-quarter profit, hurt by lower mortgage banking revenue and higher expenses.
An out-of-control sales culture, a defensive boss obsessed with stamping out negative views about her division and a group chief executive who called her “the best banker in America” were to blame for Wells Fargo & Co.’s devastating sales scandal, an internal investigation found.
New applications for U.S. unemployment benefits recorded their biggest drop in nearly two years last week, pointing to a further tightening in the labor market.
Richmond Federal Reserve President Jeffrey Lacker abruptly left the U.S. central bank on Tuesday after admitting that a conversation he had with a Wall Street analyst in 2012 may have disclosed confidential information about Fed policy options.
U.S. construction spending rose to a near 11-year high in February amid robust gains in homebuilding investment.
A federal judge on Thursday said Wells Fargo & Co. must face litigation seeking to hold it responsible for billions of dollars of claimed investor losses stemming from its alleged failures as a trustee overseeing risky residential mortgage-backed securities.
Contracts to buy previously owned U.S. homes jumped to a 10-month high in February, pointing to robust demand for housing ahead of the spring selling season despite higher prices and mortgage rates.