The markets were reeling toward the end of last week as hot CPI figures sent the major indexes into a tailspin. Meanwhile, it remains to be seen how Iran’s missile and drone attack on Israel on Saturday night shapes the war in the Middle East and affects market sentiment in the week ahead. Looking at the bigger picture on where the markets are heading, according to Chris Harvey, head equity strategist from Wells Fargo, investors shouldn’t worry too much right now. ‘There’s more room for...
Manteca could get a jump on $2.1 million in capital improvement projects planned for next year.
The opening week of first-quarter earnings season was billed as a referendum on the state of the U.S. economy, specifically consumer spending. While Wells Fargo didn’t post stellar earnings Friday (April 12) it did vote “yes” on the economic prospects for the balance of 2024. “We continue to see strength in the U.S. economy,” CEO Charlie Scharf said during the company’s […]
Wells Fargo & Co. missed estimates for net interest income in the first
The bank's net interest income (NII) -- the difference between what it earns on loans and pays out for deposits -- fell 8% to $12.23 billion. NII was hurt by higher interest rates on funding costs, including the impact of customers moving to higher yielding deposit products, as well as lower loan balances, the bank said. The shifting U.S. interest rate outlook is an important factor that will drive banks' future profits.
FORT WAYNE, Ind. (WANE) - With the recent rain in the area, WANE 15 spoke with City Utilities for an update on the deep-rock tunnel project. The project is designed to move storm water and sewage that would otherwise flow into the rivers. The project is still going on, City Utilities says the tunnel itself []
SALISBURY, Md.- Fenix Youth project has announced a new partnership with the Wellness Center of Maryland. The partnership will provide free one-on-one counseling sessions at the Fenix Youth Project’s drop-in center. Counseling services will be offered to any young person between the ages of 12 and 24. We spoke with Fenix’s Youth Project’s executive director Amber Green who
Apple's layoffs affected employees across various California addresses, with most from sites linked to the company's now-defunct car unit dubbed Project Titan.
Apple is laying off 614 workers in California, according to a new state
After Apple killed its ambitious Apple Car project and microLED Apple Watch display dreams, the company has laid off over 600 employees. Apple lays off employees from car and display projects A recent report reveals a significant reduction in the workforce at Apple, particularly affecting employees involved in the company's Project Titan and smartwatch display initiatives. At least 87 people were employed at a secret Apple facility dedicated to advancing next-generation screen...
Don't just throw them in straightaway!
Profit at Wells Fargo fell as the bank reported a hefty fall in interest income reflecting the need to pay out more to attract depositors.