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$JPM 2Q15 Call – Marianne, CFO: We remain focused on our commitment to reduce expenses by $2Bil in 2017 relative to 2014, while continuing self fund investments in business. In 1H15 expenses were down approx. $0.5Bil, and our headcount down roughly 6,000 YTD. CBB generated net income of $831MM flat QonQ and down 8% YonY with ROE of 28%.
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.