News Highlights: Top Company News of the Day
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
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
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
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
(END) Dow Jones Newswires
January 15, 2021 13:00 ET (18:00 GMT)
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