Wells Fargo

Stories

Wells Fargo forecloses on Boston's 100 Summer St. office tower

Lender foreclosing on 100 Summer St.

Wells Fargo has scheduled a foreclosure auction for Boston's 100 Summer St. office tower, a 32-story Financial District building that sold for $806 million just weeks before COVID-19 shut down the economy. The Oct. 20 auction is the largest office foreclosure in Boston in over a decade.

Updated Sep 23

Wall Street banks report first-quarter earnings amid Iran war oil shock

Money Moves

EPS beat but revenue missed estimates; stock fell ~5% on April 14; loans surpassed $1 trillion for first time since 2020

The six largest American banks wrapped up first-quarter 2026 reporting with combined net income of $47.3 billion, with trading floors thriving on Iran war volatility even as the outlook darkened. JPMorgan earned $5.94 per share on $50.54 billion in revenue as fixed-income trading surged 21 percent to $7.08 billion, while Citigroup posted its best quarterly revenue in a decade at $24.63 billion. Bank of America earned $1.11 per share, its highest in nearly two decades. Morgan Stanley posted a record equities trading quarter of $5.15 billion and a 29 percent jump in profit. Goldman Sachs led the week with record equities trading revenue of $5.33 billion. The banks announced roughly 5,000 job cuts, using the profit windfall to trim headcount rather than expand.

Updated May 31