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Wells Fargo bank increases prime rate

About Wells Fargo Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $1.9 trillion in assets, proudly serves one in three U.S. households and more than 10% of small businesses in the U.S., and is a leading middle market banking provider in the U.S. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment ...

Wall Street climbs to add more to its strong January

NEW YORK (AP) — Wall Street is closing a strong January with more gains on Tuesday, ahead of what many investors hope will be one of the Federal Reserve’s last hikes to interest rates for a while. The S&P 500 was 1% higher and on pace to close out its third winning month in the last four. The Dow Jones Industrial Average was up 209 points, or 0.6%, at 33,926, as of 2:59 p.m. Eastern time, and the Nasdaq composite was 1.3% higher. Markets got a boost after a report showed that growth for U.S. workers’ pay and benefits slowed during the end of 2022. While that’s frustrating for ...

Unprecedented profit for Exxon as travel, and war, heated up

NEW YORK (AP) — Exxon Mobil posted record annual profits in 2022 as consumers globally struggled with high prices for gasoline, home heating and consumer goods. The energy giant brought in $55.7 billion in annual profits, exceeding its previous record of $45.22 billion in 2008, when a barrel of oil soared close to $150. Exxon’s bounty came as Americans shelled out $4 per gallon for gasoline throughout most of the spring and summer with millions hitting the road. At one point gasoline topped $5 a gallon. Supplies grew tight and prices rose globally after Russia invaded Ukraine and ...

American Express launches products for small businesses

NEW YORK (AP) — American Express is launching a suite of financial service products for small businesses as it aims build up its presence in the small business sector. The services, called Business Blueprint, stem from the credit card giant’s acquisition of fintech Kabbage in 2020. American Express had been offering small business lines of credit and other services under the Kabbage moniker, but now it will replace those with a suite of products — from a cash flow management hub to business checking accounts and lines of credit — under the name American Express Business ...

US probes complaints of parts flying off of Ford Explorers

DETROIT (AP) — The U.S. government’s road safety agency is investigating complaints that windshield trim panels can fly off of Ford Explorers while they’re traveling at highway speeds. The National Highway Traffic Safety Administration says it has 164 complaints about the trim pieces detaching on 2011 through 2019 Explorer SUVs. The probe covers about 1.86 million vehicles. The parts could hit the windshield of following vehicles or even a motorcycle rider, possibly causing loss of control and a crash, the agency said. The agency doesn’t have any reports of crashes or ...

Campaign raises $74K for cancer-fighting nonprofits

STATE COLLEGE — Kish Bank’s 2022 Kish for the Cure campaign, an annual employee-led fundraising effort supporting local cancer-fighting nonprofits, raised over $74,000. The $74,000 in donations were distributed this week among the campaign’s three beneficiaries: the Bob Perks Cancer ...