Wells Fargo & Co. on Friday reported a 31 percent decline in third-quarter profit as the bank racked up costs related to a fake accounts scandal and boosted its loan loss reserves in preparation for a potential slowdown. The bank posted $2 billion in operating losses related to litigation, customer remediation, and regulatory matters associated…
Wells Fargo Profit Falls on Sales Scandal Costs, Higher Reserves
October 14, 2022
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Putin Says Russia Will Not Mothball Oil Wells Despite West’s Import Ban
June 10, 2022
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Russian President Vladimir Putin said on Thursday that Russian companies will not block off their oil wells despite the West’s efforts to lessen its dependence on energy supplies from Moscow. The United States introduced its embargo on Russian imports in March just days after Moscow sent its troops into Ukraine, while the European Union agreed…
HSBC and Wells Fargo Use Blockchain to Settle Forex Trades
December 13, 2021
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LONDON—HSBC and Wells Fargo have begun using a blockchain platform to settle bilateral foreign currency (FX) trades in the latest sign of how technology which underpins crypto assets is spreading to more mainstream activities. Baton Systems, the company behind the Core-FX distributed ledger technology, or DLT, said on Monday the two banks are using the…
California’s Drought-Ridden Landowners Turn to Water Witches for Help
July 21, 2021
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As California’s drought continues with no relief in sight, farmers and vintners are hiring water witches to brew up some moisture. “They’re in desperate need…I am in high demand,” Rob Thompson, who uses divining rods to find underground water, told The Epoch Times. “My phone is just ringing off the hook…I’m booked out for about…
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