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$RF said it expects 2016 net interest income and other financing income to increase 2-4%. The company stated that its plan to eliminate $300MM of core expenses is underway and it expects to achieve 35-45% of this number in 2016. Total adjusted non-interest expenses in 2016 are expected to be flat to up modestly from the level in 2015.
The latest earnings report by $VZ shows how it is losing customers despite offering the unlimited data plans, a record for the company.
$BEBE is closing down all its stores by the end of May.
$WFC agreed to hike its payout in a class-action settlement over unauthorized accounts by $32 million to $142 million for its retail sales practices. The settlement will now include customers who were impacted as early as May 2002.