More Cash Means More Problems for Big Banks

Large lenders enter 2021 coiled with potential energy from their deposit-fueled cash piles, but it's hard to pinpoint when that might translate into shareholder returns.

 
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.

 
Walmart E-commerce Boss Marc Lore to Leave

The Jet.com founder joined Walmart in 2016 after it bought his startup and pushed the bricks-and-mortar giant to ramp up its online offerings.

 
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.

 
Prosecutors Credited Boeing for Compliance, Organizational Reforms

The plane maker's $2.5 billion settlement over the 737 MAX shows the importance of ensuring that compliance and safety programs are effectively structured, lawyers say.

 
Wells Fargo Profit Rises to End Topsy-Turvy Year

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

 
Companies Brace Themselves for New ESG Regulations Under Biden

Businesses and trade groups are hoping to get clarity about-and influence-expected rules on environmental, social and governance issues.

 
Bloomberg's Big Challenger Can't Afford to Slip

Investors have high hopes for the new financial-data giant created by the imminent merger of London Stock Exchange Group and Refinitiv.

 
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.

(END) Dow Jones Newswires

January 15, 2021 13:15 ET (18:15 GMT)

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