Business

Wells Fargo to cut costs by another $2B

Wells Fargo & Co. has doubled its cost-cutting target after seeing expenses soar in the aftermath of a sales scandal that broke last fall. The company plans to reduce expenses by another $2 billion through the end of 2019, on top of a $2 billion cost-cutting target management previously announced. Wells Fargo also indicated Thursday that […]

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INC Research to buy inVentiv in $4.6B deal

Pharmaceutical services company INC Research Holdings Inc. of Raleigh has agreed to acquire larger rival inVentiv Health Inc. of Boston in a $4.6 billion all-stock transaction. The deal will create an industry behemoth with more than 22,000 employees in 60 countries, and bolsters the Triangle’s status as the epicenter for the global contract research organization […]

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Credit Suisse to add 1,200 jobs in the Triangle

Credit Suisse Group AG will expand its Research Triangle Park campus with a $70.5 million investment and add 1,200 jobs there over the next few years. The Swiss-based financial-services company already employs 1,500 in the area and will receive $40.2 million in tax incentives over 12 years if it meets hiring and investment targets. Credit […]

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Wells Fargo said to explore sale of insurance brokerage unit

Wells Fargo & Co. is weighing a sale of its insurance brokerage business, which could fetch about $2 billion, according to individuals familiar with the matter. The bank has begun reaching out to private equity firms to gauge interest in Wells Fargo Insurance Services USA Inc., they said. If Wells Fargo fetches $2 billion for […]

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