Wells Fargo was released from a punitive, seven-year-long $1.95 trillion cap on its assets on Tuesday after the U.S. Federal Reserve lifted the regulatory measure, allowing the bank to pursue unimpeded growth.The move handed a major victory to CEO Charlie Scharf, who has been cleaning up the bank since taking the top job in 2019, and sent the bank’s shares up 2.7% in after-hours trading as investors anticipated that the bank can now expand. Wells has said it wants to grow in areas such as credit cards, wealth management and commercial banking.”It will be a significant bump for the stock in the near…
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Kazuo Ueda, governor of the Bank of Japan (BOJ), speaks during a conference hosted by the bank’s Institute for Monetary and Economic Studies in Tokyo, Japan, on Tuesday, May 27, 2025. Kiyoshi Ota | Bloomberg | Getty ImagesBank of Japan Governor Kazuo Ueda said the country’s economy can withstand the hit from U.S. tariffs and sustain a cycle of rising inflation accompanied by wage growth, signaling the bank’s readiness to raise interest rates further.Uncertainty over U.S. trade policy and the range of tariffs imposed by President Donald Trump’s administration could hurt Japan’s exports, prod firms to delay capital expenditure plans, and discourage them from raising wages, Ueda said on…
Theodore Levin United States Courthouse, Detroit Federal Building, Detroit, Michigan on August 25, 2010Carol M. Highsmith | Buyenlarge | Archive Photos | Getty ImagesA Chinese researcher in Michigan and her boyfriend have been charged with smuggling a biological pathogen that “can cause devastating diseases in crops” into the United States, according to federal charging documents unsealed Tuesday.Yunqing Jian, 33, a postdoctoral fellow at the University of Michigan, and her boyfriend, Zunyong Liu, 34, were charged with multiple counts, including conspiracy to defraud the United States, smuggling goods into the country and making false statements to investigators, the complaint says.Liu was…
Sophie Karp, Keybanc, joins ‘Fast Money’ to talk Meta’s Constellation Energy deal. Source link
The Toyota Industries Corp. logo at the company’s Nagakusa plant in Obu, Aichi Prefecture, Japan.Bloomberg | Bloomberg | Getty ImagesShares of Toyota Industries slumped as much as 13% Wednesday, after Toyota Group’s reported 4.7 trillion yen ($33 billion) deal to take the company private.That includes a tender offer of $26 billion for shares of Toyota Industries at 16,300 yen apiece, according to Reuters, sharply lower than the 18,400 yen it closed on Tuesday before the deal was announced.Toyota Group will create a new holding company for the deal, with the group’s real estate arm Toyota Fudosan investing about 180 billion yen, while Toyota Motor Chairman Akio Toyoda will…
Traders work on the floor of the New York Stock Exchange on June 3, 2025. NYSE Over the past week, Washington and Beijing have been trading barbs about violating their preliminary trade deal. Aside from that, higher steel and aluminum tariffs announced by U.S. President Donald Trump will kick in Wednesday.Amid all the trade tensions, the Organisation for Economic Co-operation and Development slashed its U.S. and global growth forecast for this year and the next, citing “barriers to trade tighter financial conditions, weaker business and consumer confidence and heightened policy uncertainty.”Investors, however, are still pushing up stocks, with Nvidia on…
CrowdStrike on Tuesday evening reported quarterly beats on many of the key metrics that investors focus on. However, it also delivered mixed guidance. As a result, we’re not surprised to see some profit-taking in after-hours trading, following Tuesday’s record-high close of nearly $489 per share. Revenue in the fiscal 2026 first quarter increased 20% year over year to $1.1 billion, landing right in line with estimates, according to LSEG. Growth was seen in all major geographic regions. Adjusted earnings per share (EPS) declined 8% annually to 73-cents in the three months ended April 30, but that was ahead of the…
The final trades of the day with CNBC’s Melissa Lee and the Fast Money traders. Source link
Sydney Harbour and the skyline of the central business district (CBD) in Sydney, Australia, on Tuesday, April 29, 2025.Bloomberg | Bloomberg | Getty ImagesAustralia’s economy grew less than expected in the first quarter this year, as growth stalled amid the simmering global trade tensions.The country’s economy grew 1.3% year-on-year in the first quarter, lower than the estimated 1.5% growth among economists polled by Reuters. That was unchanged from the 1.3% year-on-year growth in the prior quarter.The GDP figure comes as the Reserve Bank of Australia slashed rates to its lowest level in two years at its last meeting in May…
Emil Barr, 22, graduated from Miami University in May 2024.Courtesy of Emil BarrIt’s no secret that college in the United States is expensive — about 43 million people live with student debt and the outstanding federal student loan balance stands at about $1.8 trillion, according to the Education Data Initiative.But startup founder Emil Barr says everything is negotiable — even your college tuition.In fact, on top of successfully negotiating with his school administration to cover about $60,000 of his tuition fees, the 22-year-old startup founder made more than $140,000 over the four-year period that he was enrolled, according to documents…
