Wells Fargo said late Tuesday it was shrinking its home-mortgage business, aiming to serve its own bank customers as well as people in “minority communities.” Wells Fargo WFC, -0.07% also Read more
Tag: Corporate
China takes first steps to punish countries that imposed testing mandates for Chinese travelers
China on Tuesday suspended visas for South Koreans to enter the country for tourism or business in apparent retaliation for South Korea’s COVID-19 testing requirements for Chinese travelers, the Associated Press Read more
Coinbase to cut 950 jobs and book charges of up to $163 million
Coinbase Global Inc. stock COIN, +15.06% slid 2.8% in premarket trade Tuesday, after the crypto exchange said it’s cutting 950 jobs in a cost-cutting effort required given the current gyrations Read more
Moderna, CureVac and Ocugen offer updates on COVID vaccines, while China cracks down on critics of government’s pandemic response
A flurry of announcements relating to COVID vaccines dominated headlines on the pandemic on Monday, with Moderna telling investors it expects to generate some $5 billion in sales in 2023. Read more
Tesla extends late-Friday rally to trade up 6%
Tesla Inc. stock TSLA, +7.49% rallied anew in early trade Monday, continuing the move that saw it reverse an intraday loss Friday of about 8% to close up 2.5%. The Read more
Kevin McCarthy elected House speaker, narrowly prevailing in 15th round of voting
Top House Republican Kevin McCarthy succeeded early Saturday in his push to become his chamber’s next speaker, claiming the job after first falling short in well over a dozen rounds Read more
Macy’s stock slides as holiday lulls weigh on sales forecast and execs predict difficulties into 2023
Shares of department-store chain Macy’s Inc. slid 8% in after-hours trading on Friday after the retailer gave a more downbeat forecast on its fourth-quarter sales, with management citing big “lulls” Read more
Mercedes recalls nearly 324,000 vehicles due to engine stalling
DETROIT (AP) — Mercedes is recalling nearly 324,000 vehicles in the U.S. because the engines can stall while they’re being driven. The recall covers a range of models from the Read more
China’s latest COVID challenge: Lunar New Year holiday travel surge
China is hoping to avoid an acceleration in the pace of new COVID cases during the coming Lunar New Year holiday, when Chinese people traditionally travel home to see family, Read more
Southwest sees flight cancellations costing up to $825 million
Southwest Airlines Co. warned Friday that it expects to report a surprise net loss for the fourth quarter, because of the costs associated with all the flights it canceled in Read more