Wells

Citigroup offices in New York City. Adam Jeffery | CNBC Check out the companies making headlines in midday trading.Pinterest — Shares of the image-sharing social media company surged 15% on a report from the Wall Street Journal that Elliott Management has acquired a more than 9% stake.Citigroup — Citigroup rallied 11% after second-quarter earnings beat on the top and bottom lines. Citigroup was the only one of the four major banks that reported earnings this week to surpass expectations on revenue.Wells Fargo — Shares of…

State regulators are taking over a combined 106 wells from two oil and gas companies that faced several alleged violations and a total fine of $2.2 million. The Colorado Oil and Gas Conservation Commission voted to suspend the fine. But the commission revoked the ability of the companies, 31 Operating and Lasso Oil and Gas, to operate in Colorado. The wells, mostly in Rio Blanco County, will be put on the state’s orphan-well list and closed and cleaned up with money in a state fund that uses revenue from fees on the…

Charles ScharfQilai Shen | Bloomberg | Getty ImagesWells Fargo CEO Charles Scharf said he is betting on "more significant rate hikes" as the Federal Reserve tries to rein in high inflation, and that the economy is not as prepared as it should be."I wouldn't bet on a number, but I would bet on more significant rate hikes," Scharf told CNBC's Sara Eisen at the Aspen Ideas Festival on Wednesday, adding that he considers 50 and 75 basis point hikes to be "significant themselves.""Is it going to be more than that? Maybe, but…

PhD student Paula Gonzalez testing soil for traces of gas leakage near a decommissioned well in England. Credit: Heriot-Watt University There is no evidence to suggest that England's decommissioned oil and gas wells are leaking methane into the environment, according to a new study by Heriot-Watt University. …

“It’s going to be hard to avoid some kind of recession,” CEO Charlie Scharf said at the WSJ’s Future of Everything Festival. Fed Chairman Jerome Powell and other executives are also set to speak on the first day of the event. “It’s going to be hard to avoid some kind of recession,” CEO Charlie Scharf said at the WSJ’s Future of Everything Festival. Fed Chairman Jerome Powell and other executives are also set to speak on the first day of the event. FOLLOW US ON GOOGLE NEWS Read original article here Denial of…

Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022.Patrick T. Fallon | AFP | Getty ImagesDETROIT — Shares of General Motors on Thursday hit a new 52-week low and opened at their lowest price since November 2020, after Wells Fargo downgraded the stock and significantly slashed its target price for the company.Wells Fargo analyst Colin Langan lowered GM's rating after market close Wednesday to "underweight" from…

This week, shareholders at Citigroup, Wells Fargo, Bank of America, and Goldman Sachs voted on resolutions recommending the companies stop any additional financing for fossil fuel projects. All the resolutions failed, pretty spectacularly, garnering just over 10 percent of the vote. Despite that failure, the votes were notable examples of a strategy climate activists are implementing with increasing boldness: pressuring institutions from the inside to make meaningful reforms on climate change. It’s one that showed…

Credit: Unsplash/CC0 Public Domain Don Myron is probably best known as the guy who survived one of the deadliest fires in Oregon's history by sheltering overnight in a river with a patio chair. So there was never any question that Myron would rebuild his home in Oregon's Santiam Canyon after the house was destroyed in the Labor Day wildfires of 2020.…

Business credit is difficult to get until a company is well established. In most cases, business founders need to put up their personal assets (and credit score) to get approved for a business line of credit. Entrepreneurs may not want to risk their personal credit for their company -- or may not even be able to, due to poor credit. The Wells Fargo Business Secured Credit Card is one of the few card options available for small businesses…