Citigroup Beats Profit Expectations

The bank enjoyed strong results in 2020 from its Wall Street operations, but that was offset by the billions of dollars it had to put aside for potentially bad loans.

 
Exxon Draws SEC Probe Over Permian Valuation

A whistleblower complaint alleges that lower-level employees were pressured to use unrealistic assumptions on how quickly the company could drill wells.

 
JPMorgan Quarterly Profit Jumps 42%

The nation's biggest bank posted its highest-ever quarterly profit after releasing funds it had set aside to cover soured loans. Still, the CEO said it remains positioned for significant near-term economic uncertainty.

 
Wells Fargo Profit Rises to End Topsy-Turvy Year

The San Francisco-based lender said Friday that it made $2.99 billion in the fourth quarter, up 4% from a year earlier, though revenue fell nearly 10%.

 
Ant Group Is Moving Quickly to Comply With Regulations, China's Central Bank Says

Ant is working expediently to rectify its business practices and comply with regulatory requirements, a top Chinese central bank official.

 
U.S. Expands Chinese Investment Blacklist to Xiaomi

Smartphone giant Xiaomi became the latest Chinese technology group to be targeted by the Trump administration, with its surprise addition to an investment blacklist sending its shares sharply lower.

 
SAP Forecasts Flat Revenue After Fourth-Quarter Rebound

SAP said it expected cloud and software revenue for 2021 to be flat to up 2%, with operating profit of EUR7.8-EUR8.2 billion, as the software giant released fourth-quarter results ahead of forecasts.

 
U.S. Moves to Block Telecom Tech From China and Others Deemed Foes

It will be up to the Biden administration to follow through on the new rules, which also names Iran and North Korea.

 
Apple's App Store Removes Wimkin Over Calls to Violence

Apple removed social-media platform Wimkin from its App Store, part of a crackdown by tech companies on potentially dangerous content during the presidential transition. The small site, which markets itself as a free-speech haven, had hosted posts that included a call for civil war.

 
GameStop Stock Soars, and Social-Media Traders Claim Victory

Members of Reddit's popular WallStreetBets forum have been touting the videogame retail for weeks.

(END) Dow Jones Newswires

January 15, 2021 09:15 ET (14:15 GMT)

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