Wells Fargo suffers first quarterly loss since the Great Recession

The poor results were driven by soaring expenses linked to Wells Fargo’s scandals and surging credit costs caused by the bank’s darkening economic view. Wells Fargo (WFC) suffered a loss of $2.4 billion during the second quarter, a sharp reversal from the $6.2 billion the lender earned a year ago. The bank lost 66 cents […]

Singapore’s recession is officially here

Cyclists riding along Marina Bay overlooking the financial business district in Singapore on July 14. Roslan Rahman/AFP/Getty ImagesSingapore has fallen into a deep economic slump — and it’s even worse than many had predicted.The government said Tuesday that GDP...