Fannie Mae Sells $1.5B Bills at Higher Rates
Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $1.5 billion of benchmark bills at higher interest rates compared with last week’s sale of similar maturities.
US Producer Prices Rise Slightly After Recent Solid Gains
U.S. producer prices barely rose in April after strong gains in the first quarter, held down by a moderation in the cost of both goods and services, which could ease fears that inflation pressures were rapidly building up.
As Trump’s Tariffs Bite, Small US Manufacturers Begin to Tap the Brakes
Encouraged by a booming demand for construction equipment, Mike Haberman was planning in early February to hire at least 30 more workers for the manufacturing facility of his Gradall Industries in Ohio.
Goldman’s Waldron Says US Tax Reform Boosts Shareholder Activism
U.S. companies with more cash on their balance sheets thanks to tax reform are coming under greater scrutiny from activist investors, a top Goldman Sachs Group Inc. investment banker said this week.
US Existing Home Sales Rise for Second Straight Month
U.S. home sales increased strongly in March amid a rebound in activity in the Northeast and Midwest regions, but a dearth of houses on the market and higher prices remain headwinds as the spring selling season kicks off.
Morgan Stanley Profit Beats Estimates on Trading Boost
Morgan Stanley posted a better-than-expected first-quarter profit on Wednesday, as its trading business drew strength from increased market volatility in line with other major banks.
Goldman’s Faith in Roaring Markets Met with Skepticism on Wall Street
Goldman Sachs Group Inc. is so confident in its recent business boom that it will pause share buybacks in the second quarter and instead use capital to facilitate trades, loans and deals for customers, its finance chief said on Tuesday.
Wells Fargo Loses Steam in Commercial Lending as Rivals Pounce
Wells Fargo & Co.’s two biggest competitors have been nabbing market share in lending to commercial and industrial customers in the American heartland, a sign of how difficult it has become for the scandal-tarnished bank to defend its position against rivals.
Citigroup Profit Beats on Strength in Consumer Banking, Equity Trading
Citigroup Inc. reported a higher-than-expected quarterly profit on Friday, driven by strength in its consumer banking business and a surge in equities trading.
JPMorgan Sued Over Fees for Cryptocurrency Purchases
JPMorgan Chase & Co. has been hit with a lawsuit in Manhattan federal court accusing it of charging surprise fees when it stopped letting customers buy cryptocurrency with credit cards in late January and began treating the purchases as cash advances.
US Senate Panel Plans to Repeal Auto Lending Rules
U.S. Senate Banking Committee Republican Pat Toomey said on Tuesday the panel plans to repeal the Consumer Financial Protection Bureau’s indirect auto lending and leveraged lending rules in the coming weeks.
US Watchdog Seeks Record Fine Against Wells Fargo for Abuses
The top U.S. watchdog for consumer finance is seeking a record fine against Wells Fargo & Co. that could exceed several hundred million dollars for auto insurance and mortgage lending abuses, according to three sources with knowledge of the plans.
U.S. Job Growth Seen Slowing in March, Jobless Rate Likely Fell
U.S. job growth likely slowed in March as the boost from mild temperatures faded, but the gains were probably more than enough to push the unemployment rate down to 4.0 percent, indicating the labor market continues to tighten.
Massachusetts Can Sue Equifax Over Data Breach, Judge Rules
Massachusetts can move forward with a lawsuit accusing credit reporting firm Equifax Inc. of failing to safeguard its databases or provide prompt notice of a breach that exposed the personal data of 147 million people, a state court judge has ruled
Barclays to Pay $2B US Fine Over Mortgage Fraud Claims
Barclays has agreed to pay $2 billion for allegedly causing billions of dollars of losses to investors by engaging in a fraudulent scheme to sell residential mortgage-backed securities between 2005 and 2007, the U.S. Justice Department said on Thursday.
Citi Sets Restrictions in Gun Sales by Retail Clients
Citigroup Inc. added restrictions on firearms sales for new retail-sector clients, the Wall Street bank said on Thursday, the strongest move to date by a major U.S. lender following last month’s high school shooting in Florida.
From Wall Street to Weed: How the Financial Crisis Lit Up the Pot Industry
As a senior vice president at Wachovia and then Morgan Stanley during the dark months of the 2008 and 2009 financial crisis, Derek Peterson watched as colleagues lost their jobs and life savings and wondered if he was next.
Casino Mogul Steve Wynn May Sell His Stake in Wynn Resorts
Wynn Resorts Ltd.’s former CEO, Steve Wynn, may elect to sell all or a portion of his stake in the company, according to a regulatory filing dated Thursday.
JPMorgan Invests in Fixed-Income Data Startup
JPMorgan Chase & Co. has made a strategic investment in Mosaic Smart Data, a company that has developed technology to help banks make their fixed-income sales and trading businesses more profitable.
U.S. Consumer Prices Slow as Gasoline Falls, Rents Moderate
U.S. consumer price growth slowed in February amid a decline in gasoline prices and a moderation in the cost of rental accommodation, the latest indication that an anticipated pickup in inflation probably will be only gradual.
