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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: Wells Fargo

Wells Fargo stories: 46 news summaries

21 - 40 of 46 Stories | << Prev 1 2 3 Next >>

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Feds Give Green Light to Wells Fargo-Wachovia

Citigroup plans to sue over breach of contract, but will not interfere

Oct 10, 08 3:02 PM CDT
(AP) - Federal antitrust regulators cleared Wells Fargo's $11.7 billion acquisition of Wachovia Corp. today, capping a weeklong battle for the Charlotte, NC-based bank. The rapid approval comes a day after Citigroup walked away from its acquisition effort. Citigroup plans to seek $60 billion in damages for breach of contract but... More »

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Citigroup • mergers and acquisitions • Wachovia • antitrust • Wells Fargo • SEC • credit crisis • financial crisis

(Newser) - Citigroup said today it's going to let Wells Fargo go ahead with its acquisition of Wachovia, the Wall Street Journal reports. But all's not chummy in the banking world: Citigroup, which charges that Wachovia illegally backed out of a deal to accept a sweeter offer from Wells Fargo, is still... More »

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Wachovia • Wells Fargo • Citibank • banking industry • financial crisis

Wells, Citigroup Call Truce in Wachovia Battle

Fed brokers cool-off, banks may be working out carve-up deal

Oct 7, 08 2:47 AM CDT
(Newser) - Citigroup and Wells Fargo have agreed to back off from their legal tug-of-war over Wachovia until tomorrow, reports the San Francisco Chronicle. The Fed-brokered agreement comes after days of furious legal wrangling and a $60 billion lawsuit filed by Citigroup against both Wells and Wachovia yesterday. Insiders say Citigroup and... More »

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Citigroup • Federal Reserve • Wachovia • Wells Fargo • takeover • financial crisis

UPDATED

 Dow Down 700, Hits 4-Year Low 

'This is just about fear right now'

Oct 6, 08 1:58 PM CDT
(Newser) - Stocks continued downward today, with the Dow falling a record 782 points, the Wall Street Journal reports, and settling mid-afternoon around 9,571, below 10,000 for the first time since October 2004. “This is just about fear right now, and whether stocks are going to close down 200... More »

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stock market • Citigroup • Federal Reserve • Dow Jones • Wachovia • Wells Fargo • global market • European markets • FTSE • bailout • HBOS • financial crisis

 Citigroup Sues Wells, 
 Wachovia for $60B 

Deal would award $225M in severance, Citi charges—a bailout no-no

Oct 6, 08 1:02 PM CDT
(Newser) - Citigroup has sued Wells Fargo and Wachovia for $60 billion in damages, alleging the latter breached an exclusivity agreement in agreeing to its sale to Wells. Wells is also charged with violating Citi's right to purchase some of Wachovia's assets under a previous deal, reports Bloomberg. The Wells agreement would... More »

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Citigroup • Wachovia • Wells Fargo • lawsuit • financial crisis

Feds Work
to Cement Wachovia Deal

Citi and Wells Fargo
would each get a piece of the struggling bank

Oct 6, 08 6:52 AM CDT
(Newser) - Federal Reserve officials are pushing Citigroup and Wells Fargo to agree to a compromise giving each a piece of struggling Wachovia, with the Charlotte-based bank's 3,346 branches divided along geographic lines and Wells Fargo acquiring its investment units, reports the Wall Street Journal. The new deal, still being... More »

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Citigroup • Federal Reserve • Wachovia • Wells Fargo • takeover • financial crisis

 Citi Suit 
 Blocks Wells' 
 Wachovia Deal 

Court order says bank must only deal with Citigroup, for now

Oct 5, 08 8:00 AM CDT
(Newser) - In a victory for Citigroup, a New York Supreme Court judge has halted a deal by Wells Fargo to buy Wachovia until further notice, announced Citi executives. The decision prolongs Wachovia’s earlier agreement to deal only with Citigroup as it battles with Wells Fargo to purchase the sixth-biggest US... More »

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Citigroup • merger • Wachovia • Wells Fargo • negotiations • court order • financial crisis

Citi May Seek to Recover Wachovia Deal

Bank could make a better offer; may sue Wells Fargo

Oct 4, 08 9:05 AM CDT
(Newser) - Left hanging after Wells Fargo swooped in with a better offer to purchase Wachovia, the troubled Citigroup is mulling its options. It could attempt to sweeten its earlier bid, perhaps including pieces of the company it hadn’t agreed to take earlier—or launch a lawsuit. Citigroup may argue that... More »

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Citigroup • merger • Wachovia • Wells Fargo • bank • lawsuit • financial crisis

Citi Demands Wells Fargo Give Wachovia Back

Bank says new buyout violates an exclusivity agreement

Oct 3, 08 11:43 AM CDT
(Newser) - Citigroup is seeking to nullify the Wells Fargo takeover of Wachovia announced this morning, Bloomberg reports. Citi claims the $15.4 billion deal violates an exclusivity agreement it had worked out with Wachovia early this week. "Citi has substantial legal rights regarding Wachovia and this transaction,'' the bank... More »

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Citigroup • Wachovia • Wells Fargo • takeover • buyout • FDIC • financial crisis

MARKETS

 Stocks Rise on Opening Bell 

New Wachovia deal boosts optimism

Oct 3, 08 8:48 AM CDT
(Newser) - Stocks climbed higher today, buoyed by Wells Fargo’s deal to snatch Wachovia from Citigroup. The Dow is up more than 100 points in early trading, while the Nasdaq and S&P rose 1.7% and 1.5%, respectively. Seemingly ignored was a worse-than-expected employment report, which showed the sharpest... More »

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stock market • Citigroup • Dow Jones • Wachovia • Wells Fargo • markets • financial sector • financial crisis

 Wells Fargo Buys Wachovia 
 for $15.4B, Trumps Citigroup 

After initial no, Bay Area bank buys out troubled lender

Oct 3, 08 7:17 AM CDT
(Newser) - Wells Fargo will buy struggling bank Wachovia in a $15.4 billion takeover, reports the Wall Street Journal. The deal was announced today and comes just days after Wachovia had reached an agreement to sell its banking operations to Citigroup. The Wells Fargo purchase requires no government assistance, and the... More »

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Citigroup • mergers and acquisitions • merger • Wachovia • Wells Fargo • credit crisis • financial crisis

Wells Closing In
on Deal to
Buy Wachovia

Merger would create three banks with 30%
of all deposits

Sep 29, 08 5:38 AM CDT
(Newser) - Wells Fargo appeared to be close last night to forging a deal to buy struggling Wachovia, the nations's fourth-largest bank, reports the Wall Street Journal. Federal regulators pressured Wachovia to seek a suitor after its share prices plunged 47% last week. Citigroup was also in talks, but Wells now appears... More »

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Citigroup • Wachovia • Wells Fargo • JPMorgan Chase • banking industry • financial crisis

 Feds Search for WaMu Buyer 

Falling share price stokes worries of a bank run

Sep 17, 08 1:06 PM CDT
(Newser) - Washington Mutual, America's largest savings and loan, may be the next big financial institution to fail, the New York Post reports. Fearing a run on the struggling bank, federal regulators placed calls yesterday gauging interest in a WaMu buyout to Wells Fargo, JP Morgan Chase, HSBC, and others, but no... More »

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Wells Fargo • credit crisis • Washington Mutual • mortgage backed securities • Standard and Poor • savings • bank failure • JPMorgan Chase

OPINION

Time for the
Dow to Ditch Ailing AIG

Index should replace enfeebled AIG or GM
with Apple or Cisco

Sep 16, 08 3:45 AM CDT
(Newser) - The downsizing of American International Group should spur its ejection from the Dow Jones 30, Paul R. La Monica writes in CNNMoney. The company's inclusion in the index means its troubles will hurt the market even more than the tribulations of Lehman, Fannie and Freddie—its shedding of divisions will... More »

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insurance companies • Wall Street Journal • Dow Jones • Wells Fargo • AIG • American International Group • financial crisis

Earnings

Citi Losses Shrink in 2nd Quarter, Beat Expectations

Rounds out week of better-than-expected results

Jul 18, 08 8:32 AM CDT
(Newser) - Citibank delighted shareholders today by losing a mere $2.5 billion in the second quarter, the Wall Street Journal reports. Analysts had expected much worse from the US’ biggest bank by assets, but Citi beat expectations by reducing writedowns and slashing jobs. The results should prove a counterweight to... More »

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earnings reports • Merrill Lynch • Wells Fargo • second quarter earnings • Citibank • JPMorgan Chase

MARKETS

 Markets Surge on Oil, Financials

Another drop in crude, good news from Wells Fargo brings out the bulls

Jul 16, 08 3:27 PM CDT
(Newser) - The markets rallied big today, as the price of oil fell for a second day and financials regained some of the ground lost in recent chaotic sessions, the Wall Street Journal reports. The Dow gained 276.74 to go back over the 11,000 mark, at 11,239.28. The... More »

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Dow Jones • Wells Fargo • Nasdaq • Freddie Mac • Fannie Mae • oil price • S&P 500 • financial stocks • oil prices

 Banks Cut Colleges
 Eligible for Student Loans 

Students at 2-year, non-elite 4-year schools left in the lurch

Jun 2, 08 8:09 AM CDT
(Newser) - Students at 2-year and some less competitive 4-year colleges will be having a tougher time finding loans as banks trim the list of colleges they serve, reports the New York Times. In a move that potentially shuts out some of the neediest students, Citibank, JPMorgan, PNC, and SunTrust all say... More »

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Sallie Mae • student loans • Wells Fargo • Citibank • JPMorgan Chase • credit market chaos

MARKETS

 Stocks Rise on Healthy Data 

GDP, financial rallies treat investors well, for now

May 29, 08 3:33 PM CDT
(Newser) - The markets saw gains today as good economic data and a rally amid financial shares gave evidence that the nation may be moving past the current slump, the Wall Street Journal reports. The Dow gained 52.19 points to close at 12,646.22, the Nasdaq gained 21.62 to... More »

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Bank of America • Dow Jones • Wells Fargo • Nasdaq • Visa • MasterCard • S&P 500

MARKETS

 Markets Up Big on Earnings 

Limited losses by JPMorgan, Wells Fargo key best jump in two weeks

Apr 16, 08 3:42 PM CDT
(Newser) - Stocks staged a rally today on the strength of profit reports from JP Morgan and Intel. "The bear market is bottoming, and folks are beginning to look beyond the valley of widely known problems to better times ahead," a strategist tells the Wall Street Journal. The Dow ended... More »

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stock market • Intel • Wells Fargo • corporate earnings • JPMorgan Chase

Home-Equity Loans Latest to Bite Banks

Even lenders that dodged subprime chaos suffering big trickle-down losses

Mar 12, 08 12:03 PM CDT
(Newser) - Home-equity loan defaults are soaring, the Wall Street Journal reports, as the trickle-down effect of the subprime mortgage crisis makes its way into what was once a source of big profits for lenders. JP Morgan Chase and Wells Fargo both escaped major writedowns on subprime mortgages gone bad, but already... More »

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Bear Stearns • Wells Fargo • National City • Washington Mutual • SunTrust Banks • housing crisis • subprime crisis • home-equity loans • JPMorgan Chase

21 - 40 of 46 Stories | << Prev 1 2 3 Next >>


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