Wells Fargo Earnings Drop 56%

The San Francisco-based lender said profit dropped from a year earlier to $2.04 billion. Still, the results were an improvement from the second quarter, when the bank set aside billions for bad loans and reported a loss. 


 
Apple Counts on 5G to Boost iPhone Fortunes in China

Apple is launching its 5G-enabled smartphones as China's economy is rebounding faster than the rest of the world but also at a time of increasing tech nationalism amid heightened trade tensions with the U.S. 


 
Goldman Sachs Profit Nearly Doubles

The bank's sharply higher profit is the latest confirmation that, even in a pandemic and a recession, Wall Street can still make money. 


 
Bank of America Profit Falls 16%

The lender's profit dropped in the third quarter, though the bank indicated that it is well prepared to weather the coronavirus recession. 


 
Starbucks Ties Executive Pay to Diversity Targets

The coffee chain said it would mandate antibias training for executives and link their compensation to increasing minority representation in its workforce, becoming the latest company to set fresh diversity goals. 


 
BlackRock Bets on U.K. Electric-Vehicle Startup Arrival With $118 Million Investment

The New York-based asset manager is joining Arrival's existing backers-auto manufacturers Hyundai and Kia, as well as U.S. delivery giant UPS. 


 
Apparel's Next Hot Destination Could Be Target or Walmart

Target, Walmart and Tractor Supply Co. might not seem like the coolest places to sell apparel, but brands can't afford to be picky these days. 


 
Arbor Refuels With Fresh $1.67 Billion for Food and Beverage Deals

Food and beverage-focused Arbor Investments has collected $1.5 billion for its fifth private-equity fund and $168 million for its second mezzanine debt fund. 


 
Study of Eli Lilly Covid-19 Drug Paused Due to Safety Concern

A federally funded clinical trial testing an experimental Eli Lilly & Co. Covid-19 treatment has been paused due to a potential safety concern, the company said. 


 
Technology Investor Lead Edge Capital Raises $950 Million as VC Sector Swells

Lead Edge Capital V LP, which closed at its hard cap, is more than 80% larger than its predecessor fund, which closed in 2018 at $520 million.

(END) Dow Jones Newswires

10-14-20 1115ET