A Leaner Citigroup Weighs in With a Robust Profit (WSJ)
The New York-based bank earned $17.2 billion in 2015, its biggest profit since 2006, when it earned $21.5 billion. For the quarter, profit was $3.34 billion, or $1.02 per share. That was up sharply from the $344 million, or 6 cents per share, it reported in the same period of 2014, when legal costs were high. Revenue edged up 3%, to $18.46 billion from $17.9 billion a year ago. It was the first revenue gain after four quarters of declines.
Wells Fargo Reports Stable Profit on Slight Rise in Revenue (WSJ)
For the fourth quarter, Wells Fargo reported a profit of $5.71 billion, or $1.03 a share. That compares with $5.71 billion, or $1.02 a share, in the same period of 2014. Analysts polled by Thomson Reuters had expected earnings of $1.02 a share. Revenue rose to $21.6 billion from $21.4 billion. Analysts had expected $21.8 billion.
Bond Traders See Even Two Fed Rate Hikes This Year as Optimistic (Bloomberg)
As a growth scare fuels turbulence in global markets, investors are cutting wagers on how high the Federal Reserve will raise its policy rate this year, going by derivatives prices. Traders expect the effective fed funds rate will rise to 0.70 percent in a year’s time, implying one increase, according to data compiled by Bloomberg. Just 17 days ago, they were betting borrowing costs would rise to 0.93 percent, which would require the Fed to lift rates twice, assuming it raised its target range by 0.25 percentage point each time.
Man With Hoover tattoo on his crotch says it’s ruining his love life (Metro)
Lewis Flint, 21, from Grimsby, decided to have the tattoo of the popular Henry the Hoover vacuum cleaner inked on his crotch and a black lead, plug and socket on his bottom. He loved the design at first but it is now ruining his love life. Lewis said: ‘When I first got it done aged 16 I couldn’t stop getting it out, I got loads of attention and I was a bit of a local hero, I loved it.’ Speaking on the latest episode of Channel 4’s Bodyshockers, he explained: ‘But I was with a girl recently and I liked her, things were going well until we got naked. ‘When she saw it she said “what’s that? I am off!” I was gutted, I never thought I would regret my tattoo when I got it done.’ The 21-year-old’s mother said she is not surprised the ‘poor girl’ ran away, adding: ‘I can’t believe he has had the tattoo, it must be off putting for a lot of girls. ‘You can’t take him seriously as it is ridiculous.’
Goldman Sachs Sees Oil Bull Market Being Born in Today's Crash (Bloomberg)
The crash in U.S. oil futures -- which sank back below $30 a barrel on Friday to a new 12-year low -- will send the nation’s shale-oil boom spinning into reverse in the second half of the year, the bank said in a report. As U.S. production slumps by 575,000 barrels a day, global oil markets will tip from surplus to deficit, Goldman predicts.
Warren Buffett digs deeper into his big oil bet (CNBC)
His buying streak extended to a seventh day Tuesday, new filings show, as Buffett's Berkshire Hathaway bought another 861,000 shares of Phillips 66 as that stock bounced around three-month lows. In total, during the seven days, Berkshire has bought almost 6 million shares of the company at an average price of $76.64 per share. That's almost $460 million worth, a small, but growing, percentage of Berkshire's total stake that's now worth more than $5 billion.
BlackRock profit weaker than expected but clients still add cash (Reuters)
Net income at the world's largest asset manager rose to $861 million, or $5.11 per share, in the fourth quarter from $813 million, or $4.77 per share, a year earlier. On an adjusted basis, New York-based BlackRock earned $4.75 per share, falling short of the average analyst estimate of $4.80, according to Thomson Reuters I/B/E/S.
Bikini Grandma Busted Again (HP)
Back in April, Patricia Ebel of Naples slammed her BMW into a Mustang at a traffic light. Police noted that she smelled of liquor and her 10-year-old grandson was in the car. She became Internet famous in a video showing her failing a field sobriety test, while wearing skimpy swimwear. A judge ordered the 50-year-old Floridian to refrain from drinking for a year, but probation officials are now saying she has failed to do. Ebel's latest arrest came on Jan. 5, after a BAC test conducted by her probation officer registered at .177, double the state's legal limit, according to the New York Daily News.