All Entries Tagged With: "Wells Fargo"
Wells Fargo mortgage presence almost doubled
The banking industry has become a topic that saw many consumers point fingers of blame for the lack of money in their pockets, although everything is not that simple and we’re sure plenty of people in the banking sector would disagree.
Selling FDIC-Backed Debt: Citigroup, Wells Fargo & Co. and GE Capital
Wells Fargo & Co (NYSE:WFC), Citigroup Inc (NYSE:C) and GE Capital join other banks by selling US government backed bonds to refinance debt by buying the cheap funds.
According to Bloomberg data Wells Fargo will issue three-year fixed and floating rate bonds. Citigroup sold $5.5 billion of FDIC-guaranteed bonds, split among floating-rate notes maturing to two [...]
Wells Fargo buyout Wachovia: Execs set to receive $98.1 million
The top ten executives of Wachovia Corp (NYSE: WB) will be eligible for huge severance pay amounting to $98.1 million after the troubled bank gets brought out by Wells Fargo & Co (NYSE: WFC) in December.
Wachovia shareholders will vote on the merger with Wells Fargo on December 23 according
Warren Buffett wins with US Bankcorp and Wells Fargo
Warren Buffett decided to increase his stake in financial companies such as US Bancorp and Wells Fargo & Co and is reaping the benefits, the billionaires company Berkshire Hathaway Inc bank-related investments shot up 36 percent in the third quarter of 2008 as he dodged subprime lenders.
At the end of September, Buffett’s firm Berkshire ranked [...]
Wachovia biggest loser in US credit crisis
October 22. Wachovia announced the biggest loss on the third-quarter than any other US lender hit by the global credit crisis, posting a loss of a staggering $23.9 billion which amounts to a loss of $11.18 per share. Wachovia lost $33 billion in the last two quarters. This just outlines the problems Wells Fargo will [...]
Wells Fargo and fast-shifting financial services industry
Wells Fargo’s purchase of troubled Wachovia for $12 billion is just the latest move to rattle the already fast-moving banking and financial system, however if you are an inland customer of either Wachovia or Wells Fargo analysis expect the deal will not cause to many problems.
North Carolina-based Wachovia being new to the California market and [...]
Stock Update: Wachovia, Wells Fargo and Citigroup
Wells Fargo and Citigroup were told to hold all legal proceedings over the buy-out of Wachovia until noon on Wednesday. This held the cautious investors back on Tuesday whilst they continue to wait for a compromise between the two banks over the fight for Wachovia.
Taking a look at the shares at mid-morning, Citigroup fell 45 [...]
Wachovia and Wells Fargo merge
Wells Fargo signed the offer to buy Wachovia Corporation last night with no government backing in a stock-by-stock merger deal. Each Wachovia common stock share will be exchanged for 0.1991 of Wells Fargo common stock shares, which means a value of $7 per share under the