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July 13, 2020
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Wells Fargo tells new clients they need $1 million in balances for certain mortgage refinancings

CNBC Real Estate
Wells Fargo is raising the bar for new customers to get a popular mortgage product, CNBC has learned exclusively. The bank is now requiring new clients to bring at least $1 million in balances if they want to refinance a jumbo mortgage, up from a previous level of $250,000, according......
CNBC Business

Goldman warns delayed election results this November similar to Bush-Gore could rock the market

CNBC
CNBC – For more and to sign up click here Joe Biden and Donald Trump Ron Adar | Echoes Wire | Barcroft Media via Getty Images; Mandel Ngan | AFP | Getty Images Goldman Sachs is warning that the upcoming presidential election could see delayed results, and is therefore recommending......
CNBC Business

Deutsche Bank CEO Christian Sewing says firm `learned our lesson’ after Jeffrey Epstein penalty

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CNBC – For more and to sign up click here Christian Sewing, Chief Executive Officer of Deutsche Bank, attends a session at the 50th World Economic Forum (WEF) annual meeting in Davos, Switzerland, January 23, 2020. Denis Balibouse | Reuters Deutsche Bank CEO Christian Sewing conceded his firm should never......
CNBC Business

Stock market live updates: Dow up 200, big winning week, blowout jobs number

CNBC
CNBC – For more and to sign up click here A view of the Wall Street street sign with the New York Stock Exchange during the coronavirus pandemic on May 25, 2020 in New York City. Noam Galai | Getty Images Stocks moved higher on the final trading day of......
CNBC Business

Tesla tops Toyota to become largest automaker by market value

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CNBC – For more and to sign up click here GP: A Tesla Model 3 automobile is on display during the first press day of the Paris Motor Show at the Parc des Expositions at the Porte de Versailles on October 2, 2018 in Paris. The Paris Motor Show will......
CNBC Business

Stock futures fall slightly after the market notches its best quarter in decades

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CNBC – For more and to sign up click here Stock futures dipped slightly in overnight trading on Tuesday as the market is set to kick off a new quarter after a remarkable comeback. Futures on the Dow Jones Industrial Average traded about 55 points lower. The S&P 500 futures and the......
CNBC Business

Stock market live updates: Futures lower, last day of June, Powell testimony ahead

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CNBC – For more and to sign up click here New York Stock Exchange (NYSE) building is seen with the Fearless Girl Statue during Covid-19 pandemic in Lower Manhattan, New York City, United States on May 26, 2020. Tayfun Coskun | Anadolu Agency | Getty Images This is a live......
CNBC Business

Nearly half the U.S. population is without a job, showing how far the labor recovery has to go

CNBC
CNBC – For more and to sign up click here People who lost their jobs wait in line to file for unemployment following an outbreak of the coronavirus disease (COVID-19), at an Arkansas Workforce Center in Fort Smith, Arkansas, U.S. April 6, 2020. Nick Oxford | Reuters Nearly half of......
CNBC Business

Stock market live updates: Dow up 400, Boeing driving gains, record pending home sales spike

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CNBC – For more and to sign up click here The New York Stock Exchange (NYSE) stands in lower Manhattan on the first day that traders are allowed back onto the historic floor of the exchange on May 26, 2020 in New York City. Spencer Platt | Getty Images This......
CNBC Business

Chesapeake Energy, a pioneer in the U.S. shale revolution, files for bankruptcy protection

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CNBC – For more and to sign up click here A worker on a Chesapeake Energy natural gas rig in Fort Worth, Texas Matt Nager | Bloomberg | Getty Images Chesapeake Energy, the poster child of the U.S. shale revolution, filed for bankruptcy protection on Sunday. The move comes as......
CNBC Business

Credit card industry reins in balance-transfer offers as banks from JPMorgan to Amex fear defaults

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CNBC – For more and to sign up click here Banks have pulled back from a popular credit card promotion on concerns that borrowers struggling during the coronavirus crisis may leave them with defaulting loans. Balance transfer offers, which typically entice borrowers to move their debt to a new lender in......
CNBC Business

Stock market live updates: Futures flat, losing week, bank stocks lower, Nike falling

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CNBC – For more and to sign up click here Traders wear masks as they work on the floor of the New York Stock Exchange as the outbreak of the coronavirus disease (COVID-19) continues New York, May 27, 2020. Lucas Jackson | Reuters This is a live blog. Check back......
CNBC Business

Fed puts restrictions on bank dividends after test finds some banks could be stressed in pandemic

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CNBC – For more and to sign up click here A pedestrian passes in front of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, June 3, 2020. Michael Nagle | Bloomberg | Getty Images The Federal Reserve put new restrictions on the U.S. banking industry Thursday......
CNBC Business

Biden’s big lead in the polls could be partly behind market’s drop and may lead to more weakness

CNBC
CNBC – For more and to sign up click here Many Wall Street analysts are warning their clients that a Biden presidency will not be good for the stock market. The former Vice President and presumptive Democratic nominee has pledged to roll back President Donald Trump’s signature tax cut legislation,......
CNBC Business

Jeff Ubben tells the FT he is leaving ValueAct for social investing: ‘Finance is, like, done’

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CNBC – For more and to sign up click here Jeffrey Ubben Source: BusinessWire ValueAct Capital’s Jeffrey Ubben has reportedly left the firm he founded in 2000 to focus on socially responsible investing full-time, a new report from the Financial Times said. Ubben will launch a new fund called Inclusive......
CNBC Business

Stock market live updates: Stocks rise, Nasdaq new record, Navarro gives overnight scare

CNBC
CNBC – For more and to sign up click here A trader walks in front of the New York Stock Exchange on May 26, 2020 at Wall Street in New York City. Johannes Eisele | AFP | Getty Images This is a live blog. Check back for updates. 10:05 am:......
CNBC Business

Bill Ackman’s new blank check company will be a $4 billion bet on a so-called Mature Unicorn

CNBC
CNBC – For more and to sign up click here Bill Ackman, founder and CEO of Pershing Square Capital Management. Adam Jeffery | CNBC Billionaire investor Bill Ackman, who made a killing this year by nailing the market bottom, on Monday disclosed plans for an initial public offering of a $4......
CNBC Business

Shale industry will be rocked by $300 billion in losses and a wave of bankruptcies, Deloitte says

CNBC
CNBC – For more and to sign up click here A derrick man secures a length of drill pipe during drilling on a natural gas drill rig near Montrose, Pennsylvania, U.S., on Monday, April 5, 2010. Daniel Acker | Bloomberg | Getty Images The U.S. shale industry is about to......
CNBC Business

U.S. banks are ‘swimming in money’ as deposits increase by $2 trillion amid the coronavirus

CNBC
CNBC – For more and to sign up click here A person on a scooter rides past a JPMorgan Chase & Co. bank branch in New York, U.S., on Thursday, June 11, 2020. Jeenah Moon | Bloomberg | Getty Images It’s the banking world’s version of the rich getting richer.......
CNBC Business

The stock market may be pricey, but it’s nothing like the genuine market bubbles of the past

CNBC
CNBC – For more and to sign up click here Traders wearing masks work inside posts, on the first day of in-person trading since the closure during the outbreak of the coronavirus disease (COVID-19) on the floor at the New York Stock Exchange (NYSE) in New York, U.S., May 26,......

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