Wells Fargo posts strong earnings amid mortgage surge
Wells Fargo reports net income up 18 percent to 4.4 billion and revenue rising to 21.3 billion as mortgage originations soar to 131 billion with 16 percent via HARP. The bank expands lending while cutting jobs and boosting reserves. JPMorgan faces a 5.8 billion trading loss fallout.
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Jpmorgan Chase
Wells Fargo
Tim Sloan
Associated Press
San Francisco
New York
Wachovia
South
U.S
Jpmorgan
Moody’s
FactSet
HARP
Inside Mortgage Finance
Department of Justice
Wells
Sloan
John Stumpf
Stumpf
US Chamber hopes Pacific trade pact completes in 2013
The U S Chamber of Commerce head says a major Trans-Pacific Partnership likely finishes in 2013 not this year. Thomas Donohue spoke ahead of a trip to East Asia urging Japan to open markets and join the pact with the United States and eight other Pacific Rim nations. Canada and Mexico are set to enter negotiations later in the year.
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Washington
U.S. Chamber of Commerce
Chamber
Thomas Donohue
Associated Press
East Asia
Japan
United States
Pacific Rim
U.S
Asia
Canada
Mexico
Oil prices rise for third day on China growth and Iran tensions
Oil rose for a third day as China reported 7.6 percent second quarter growth, easing fears of a worse slowdown. Benchmarks gained with U.S. crude at 86.80 and Brent at 101.33 as Iran tensions and sanctions support prices. US retail gas averaged 3.388 per gallon, with small weekly changes and heating oil and natural gas also moving.
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New York
China
U.S
London
Iran
Persian Gulf
AAA
Wright Express
Oil Price Information Service
York Mercantile Exchange
CheniereEn
Intel
Thuseas
Jpmorgch
Micront
Ny&co
PresLf
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MidsthBep
SevernBc
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SynthBiol
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SparkNet
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Dow Jones Utilities
London Metal
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NYSE
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N.Y
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Christina Rexrode
Fannie Mae
Freddie Mac
Welles Fargo
Tran Quoc Khanh
San Diego
Jim Ritterbusch
Pentagon
Defense Ministry
Chicago
Sper Ib
Chicago Board of Trade
Atat Inc
BkofAm
PNM Res Boeing
Chevron
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Hewlett P
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HollyFrts
WalMart
WashFed
SWS Financial Services
Brett Leach
Wilshire Blvd
Roswell
Swst.com
Elm Street
Dallas TX
FINRA
SIPC
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