U.S. bank earnings rose in the first three months of the year to the highest level in nearly five years. The number of troubled banks fell for the fourth straight quarter. The Federal Deposit Insurance Corp. said Thursday the banking industry earned $35.3 billion in the January-March period. That’s up from $28.7 billion [...]
Continue reading …A Senate panel is reviewing Facebook’s high-profile stock offering last week amid allegations that the bank handling the IPO may have provided select clients with a negative assessment of the company. A Democratic aide to the Senate Banking Committee says the panel wants to learn more about the initial public offering. The committee [...]
Continue reading …Facebook is updating its status to “public company” as its stock jumps in its debut on the Nasdaq Stock Market. The stock opened at $42.05 on Friday morning. It later settled at $39. CEO Mark Zuckerberg smiled as rang the opening bell from Facebook’s headquarters in Menlo Park, Calif. Surrounded by cheering Facebook [...]
Continue reading …Wells Fargo provided more SBA loans dollars to small businesses in Colorado than any other provider, according to information from the banking giant. In the first two quarters of 2012, Wells Fargo made 117 loans totaling nearly $35.8 million. “It’s a position we’ve held for a number of years,” said Cristie Drumm, Wells Fargo spokeswoman. [...]
Continue reading …Treasury Secretary Tim Geithner said Tuesday that the recent $2 billion trading loss by JPMorgan “helps make the case” for tougher rules on financial institutions, as regulators continue to implement the 2010 law aimed at policing Wall Street. Geithner said that the Federal Reserve, the Securities and Exchange Commission and the Obama administration [...]
Continue reading …World stock markets dropped sharply Monday as worries intensified over the condition of the eurozone and whether Greece is edging towards exiting the single currency union. In Athens, Greek party leaders struggled for a ninth day to form a coalition government. As the political wrangling dragged on, markets contemplated the threat that the [...]
Continue reading …Investors pulled money from U.S. stock mutual funds and added to bond funds in April as the stock market had its first losing month of the year. But investors were clearly willing to take on some risk, as funds investing in foreign stocks attracted new cash. Investors withdrew a net $5.7 billion from [...]
Continue reading …Some small business owners say they are having an easier time getting credit now than in recent years. The result of having credit has helped them stay open, hire more people and expand services, according to a Wells Fargo-Gallup Small Business Index survey released this week. Since January, the number of small business owners who [...]
Continue reading …The economy – both nationally and locally – is on a slow mend, but no economist in the world is ready to proclaim “mission accomplished,” said a senior economist for Wells Fargo.
Continue reading …A Denver-based financial planner has launched a free website for people who may find themselves facing bankruptcy. Kenneth Nierman, owner and principal for Adversity Financial Planners LLC, set up the Center for Bankruptcy Planning website. The site allows free access to short topic questions and informative videos. While bankruptcy laws are federal, and common to all states, [...]
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