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Author: Erik Bowling

Wells Fargo names new head of mortgage

View original postFILE PHOTO: The sign outside the Wells Fargo & Co. bank in downtown Denver April 13, 2016. REUTERS/Rick Wilking July 9, 2020 By Imani Moise (Reuters) – Wells Fargo & Co <WFC.N> said on Thursday it has hired Flagstar Bank’s Kristy Fercho to run its mortgage division following the retirement of 23-year veteran Michael DeVito from the company. Fercho will oversee home lending operations of the largest mortgage lender in the United States during a time of uncertainty in the industry. She had run Flagstar’s mortgage business for the past three years. Wells Fargo has pared back...

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Ford could shut plants in U.S. due to lack of Mexican engines: U.S. Ambassador

View original postFILE PHOTO: The corporate logo of Ford is seen at Brussels Motor Show, Belgium January 9, 2020. REUTERS/Francois Lenoir July 9, 2020 MEXICO CITY (Reuters) – Ford Motor Co. <F.N> could have to shut down factories in the United States next week if they don’t receive engines produced for their cars in Mexico’s Chihuahua state, the U.S. Ambassador to Mexico Christopher Landau said on Thursday. Landau said a senior Ford executive told him Wednesday night about his company’s concerns about the engines produced by Ford in Chihuahua state, where the governor has “limited industrial capacity to 50%”...

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World record? – Chaos as Lyles runs wrong distance in high-tech meet

View original postAthletics – Diamond League – Zurich – The Inspiration Games – Karlstad, Sweden – July 9, 2020. Sweden’s Angelica Bengtsson during the women’s pole vault competition . TT News Agency/Erik Simander via REUTERS July 9, 2020 (Reuters) – An ambitious attempt to held a high-tech athletics meeting with runners in different stadiums ran into problems on Thursday when world champion Noah Lyles ran too short a distance in the 200 metres event. Lyles, running in Florida, completed the race at the Inspiration Games in an eye-watering 18.90 seconds — which would have smashed Usain Bolt’s world record...

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Fed balance sheet below $7 trillion, repo drops to zero for first time since September

View original postFILE PHOTO: Federal Reserve Board building on Constitution Avenue is pictured in Washington, U.S., March 19, 2019. REUTERS/Leah Millis July 9, 2020 (Reuters) – The U.S. Federal Reserve’s massive stash of bonds and other assets shrank for a fourth straight week, slipping back below $7 trillion, and use of one of its key emergency liquidity measures dropped to zero for the first time since September, data released by the central bank on Thursday showed. The Fed’s total balance sheet size declined by about $88 billion to $6.97 trillion as of July 8 versus $7.06 trillion a week...

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Florida virus surge threatens Trump’s convention plans

View original postFILE PHOTO: U.S. Republican presidential nominee Donald Trump and his family are joined by vice presidential nominee Indiana Governor Mike Pence and his family on stage at the Republican National Convention in Cleveland, Ohio, U.S. July 21, 2016. REUTERS/Rick Wilking/File Photo July 9, 2020 By Jarrett Renshaw (Reuters) – As coronavirus cases surge in Florida, skepticism is growing that Republican National Convention organizers will be able to pull off the grand party President Donald Trump promised for his renomination. Wealthy donors are reluctant to bankroll an event besieged by uncertainty and possible bad optics if large crowds...

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