Wells Fargo’s profit falls on lower interest income

Wells Fargo’s profit falls on lower interest income

WELLS Fargo’s profit fell in the third quarter as the bank’s interest income was squeezed by subdued loan demand and higher payments to depositors. The fourth-largest US lender reported net income of US$5.11 billion for the three months ended Sep 30, compared with US$5.78 billion a year earlier, it said on Friday (Oct 11). Wells…

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Surging US repo activity likely exacerbating funding pressure

Surging US repo activity likely exacerbating funding pressure

A SHARP steady rise in overnight repurchase agreements is overwhelming banks that serve as middlemen for such short-term borrowings in US government securities, threatening to fuel major funding pressure at the end of every quarter and year. The market for so-called repos allows banks to borrow money quickly and cheaply when they need cash, and…

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Multimillionaire’s Wife with No Flying Experience Lands Plane Miraculously After He Suffers Mid-Air Heart Attack

Multimillionaire’s Wife with No Flying Experience Lands Plane Miraculously After He Suffers Mid-Air Heart Attack

In a shocking incident, a 69-year-old woman successfully landed a small plane after her husband, the pilot, suffered a fatal heart attack mid-air. The dramatic event unfolded when Yvonne Kinane-Wells, a real estate agent from Las Vegas, found herself alone in the cockpit, with no flying experience, as her husband, 78-year-old Eliot Alper, became incapacitated…

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