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$WFC said that Brexit added to global economic uncertainty that could result in rates remaining lower longer than expected. This puts pressure on reinvestment opportunities. When comparing to its rivals, $WFC is expected to be less impacted directly on long-term business drivers. The company believes real GDP grew at 2.5% rate in 2Q16 vs. 1Q16.
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.