Edition:
United Kingdom

Bharath ManjeshR

Wells Fargo gets federal inquiries over handling of PPP loans

06 May 2020

U.S. agencies are probing Wells Fargo & Co's handling of the Paycheck Protection Program (PPP) for coronavirus relief, the country's fourth largest lender said on Tuesday.

Morgan Stanley CEO: coronavirus will continue to pose challenges

17 Apr 2020

Morgan Stanley Chief Executive Officer James Gorman told shareholders on Thursday he "can promise" the bank will miss its medium-term financial targets again in the current quarter, as the economic shutdown caused by the novel coronavirus will continue to upend the global and U.S. economy. | Video

UPDATE 3-Morgan Stanley profit plunges, warns of more pain ahead

16 Apr 2020

April 16 Morgan Stanley Chief Executive Officer James Gorman warned that the bank would take "longer to achieve" its medium-term financial targets due to the coronavirus crisis, after its first-quarter profit slumped by 30%.

Slack shares slump on soft outlook, slower growth

12 Mar 2020

Workplace communication platform Slack Technologies Inc forecast a soft revenue outlook for the first quarter on Thursday, sending its shares down more than 20% aftermarket, on a day major U.S. stock indexes went into a tailspin amid coronavirus fears.

Wells Fargo to raise minimum pay in most of its U.S. markets

05 Mar 2020

Wells Fargo & Co said on Wednesday it plans to increase minimum wage to between $15 and $20 per hour for most of its U.S. markets, joining other Wall Street banks that have raised hourly pay in recent years.

RBC to cut Canada prime rate to 3.45%, rivals follow

05 Mar 2020

Royal Bank of Canada said on Wednesday it would cut its prime rate to 3.45% from 3.95% in its first reduction since July 2015, with the country's other lenders expected to follow suit, even as the moves weigh on margins already under pressure.

GFL raises $1.4 billion in IPO amid volatile markets

03 Mar 2020

GFL Environmental Inc on Monday raised about $1.4 billion in its initial public offering, pricing it below the target range in a conservative step to ride out market volatility in the wake of the coronavirus outbreak.

Virgin Galactic dealmaker seeks to raise $900 million for new blank check companies

28 Feb 2020

Chamath Palihapitiya, the dealmaker behind last year's blockbuster Virgin Galactic deal, is looking to raise a combined $900 million through two new investment vehicles, according to regulatory filings.

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