After pulling back on auto lending in mid-2017, Wells Fargo & Co. intends to resume growing the business, President and CEO Timothy Sloan said in an interview on Bloomberg TV. Separately, Wells Fargo fired 22 sales employees in its foreign exchange business, a "person briefed on the matter" told Bloomberg News.
In other banking
Los Angeles-based global investment bank Houlihan Lokey Inc. has acquired independent advisory firm BearTooth Advisors. Following the closing of the deal on May 21, the BearTooth team will form the Private Funds Group, a new service offering within Houlihan Lokey's corporate finance business.
New York-based private equity firm
Kabbage Inc. President Kathryn Petralia said that the Atlanta-based online lender
In people
U.S. and Canadian state and provincial regulators are cracking down on cryptocurrency
And on Capitol Hill
In other parts of the world
Asia Pacific: Warburg Pincus front-runner for IndiaFirst stake; ANZ postpones UDC Finance IPO
Europe: SFO charges vs. Barclays dismissed; Dubai bank to buy Sberbank's Turkish unit
Middle East & Africa: US funds vying for Abraaj unit; Ghana steps up bank consolidation efforts
The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Nikkei 225 dropped 0.18% to 22,960.34.
In Europe, around midday, the FTSE 100 climbed 0.20% to 7,874.50, and the Euronext 100 gained 0.12% to 1,087.44.
On the macro front
The Redbook and the Federal Reserve Bank of Richmond manufacturing index are due out today.
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