Wells Fargo quarterly profit slumps as legal costs mount

(Reuters) – Wells Fargo & Co (WFC.N) reported a 55% slump in fourth-quarter profit on Tuesday, as the fallout from a sales scandal that erupted in 2016 drove the bank to set aside another $1.5 billion toward legal expenses. Shares of the bank fell about 3%...

JPMorgan posts most profitable year ever

JPMorgan Chase reported fourth-quarter earnings Tuesday that beat analysts’ revenue and profit expectations, reflecting strong gains in its corporate and investment bank and asset and wealth management divisions. The bank’s shares climbed 1.9% in premarket...

WeWork debacle has unicorn investors seeking cover

BANGALORE/SAN FRANCISCO (Reuters) – In the months since office-sharing startup WeWork’s botched public debut, mid- and late-stage investors in big start-ups have been pushing for more safeguards in case their firms fail to go public or sell shares at a lower...
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