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|Tuesday, January 17, 2012|
Wells Fargo's fourth-quarter earnings rose 20%, but revenue declined as the bank coped with a sluggish economic recovery.
The bank, based in San Francisco, turned a $4.1 billion profit in the fourth quarter, or 73 cents a share, as its loan portfolio showed signs of improving and it avoided exposure to the volatile investment banking business. That compared with a profit of $3.4 billion, or 61 cents a share, in the period a year earlier. The figures — padded somewhat by the bank’s decision to set aside $600 million less in reserves to cover soured loans — narrowly beat analysts’ consensus estimate of 72 cents a share.
Wells Fargo and its fellow big banks are struggling to recoup precious revenue lost to a new rule that limits fees charged to merchants when a consumer uses a debit card. The rule, known as the Durbin amendment, after its sponsor Senator Richard J. Durbin, Democrat of Illinois, is expected to cost banks hundreds of millions of dollars every quarter.
Read more at The New York Times.
Thursday, July 10, 2014
BY TOM COX | OB BLOGGER
Tom Cox interviews Dr. Mark Goulston, author of Just Listen, Discover the Secret to Getting Through to Absolutely Anyone.
Wednesday, July 02, 2014
BY JESSICA RIDGWAY | OB WEB EDITOR
Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.
Monday, July 07, 2014
BY TOM COX | OB BLOGGER
Named after the 2010 experiment by Thomas Ryan, "Robin Sages" are fake social media profiles designed to encourage linking and divulging valuable information.
Monday, June 30, 2014
Oregon Business magazine won two silver awards for excellence in writing in the National American Society of Business Publication Editors Western region competition.
Wednesday, July 09, 2014
BY LINDA BAKER | OB EDITOR
Scott Kveton, the CEO of Urban Airship is taking a leave of absence from the company. As the story continues to unfold, here’s our perspective on a few of the key players.
Monday, June 16, 2014
The Oregon economy could get a boost from a new trade agreement being negotiated between the U.S. and the European Union.
Friday, June 06, 2014
BY KATIE AUSBURGER | OB GUEST CONTRIBUTOR
How to build a hipster-friendly work environment.
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