where does wells fargo stand when it talks about growth opportunities that tim sloan is saying he is interesting point. wells fargo has a lot of different operations -- retail banking, wealth management, and higher interest rates would help them, but they are constrained. the federal reserve cap is a limiter on where wells fargo can go and how much it can provide for investors, but we are also starting from a point of, it has been a rough two years for the second worst-performing stock in that bank index. if they can turn things around, maybe it will be a potentially good growth story. caroline: great insight from that peaks. thank you. apple? newhungry for iphone models hits stores today, and they are bigger and more expensive than ever. consumers willing to shell out more on them? we will find out next. this is bloomberg. ♪ caroline: i'm caroline hyde and this is countdown to the close. our stock of the hour is nike's newest public company -- online farfetchdd hub opened for the first time. this is a u.k. based company with a portuguese founder. it is truly global -- that is watche

wells fargo's ceo tim sloan said the bank plans to cut 5% - 10% of its workforce citing changing customer preferences like online banking. wells fargo has been rocked by several scanner -- scandals. the banks and will profits have either been down or flat since 2015. speed there are new developments now on the allegations of mismanagement by the santa clara chamber of commerce at the city's convention center. the city says an outside audit revealed serious issues including questionable accounting and confstlict for t clara says it is now in we kno big day for apple, but amazon is also trying to lure in customers with new products. coming up, we will show you how amazon is trying to get smart in the kitchen. >>> changes to social security and medicare. the reason native americans will now have the option to participate. >>> we are looking at interstate 880 and it is looking very nice. you can see traffic moving well in both directions in front of oracle arena. >>> the skies are clear again and temperatures look to be warm to hot inland. a little change over by the coast. olay total effects

. >> wells fargo, the chair lady knocking down rumors tim sloan is in trouble he is an investment bankeresn't sound that likely on the surface. i will mention another story that's that they are going to cut up to 10% of the work force. it would be up to 26,000 jobs. quite a significant reduction as part of the ongoing turn around plan they say. it is one reason being the adoption of digital self-service capabilities a big move now i don't think it would be a big move if the ceo was in question. >> so this is a wells fargo specific-type move >> head count has been coming down i guess a lot of the critics of the last year or two years might have said use the problems to cut the costs and cut branches so you could argue it is a little bit late. it's a big move. i don't think they would be doing it if there was about to be a change in leadership. the question for tim sloan now is not relate today the past issues of the past years if it were an issue the board is back wells fargo is down 8% if you look at one year overall whatever kind of comparison they underperformed the board would like to

(catherine) c-e-o tim sloan made that announcement today.... he says it's happening because of changing customer preferences...including a spike in online banking. wells fargo has also been dealing with a string of scandals.... including the creation of millions of fake bank accounts... and forcing clients to buy car insurance they didn't need. the bank also announced earlier this year, it plans to shut down 800 branches by 2020. (ryan) amazon wants its voice assitant to be everywhere and apart of everything you do. therefore, the company unveiled several gadgets that'll help let you control the basic tasks, all by voice. from microwaving potatoes to switching the music in the car. among the new products: an amazon microwave that can be told to defrost peas or reheat coffee. there's also a new echo for cars that can be asked to play podcasts, give driving directions or make a call. amazon is also revealing a redesign of its hockey puck- shaped echo dot, saying it's now louder. (catherine) a pizza oven company called 'ooni' is offering people up

according to tim sloan the cuts are due to changing customer preferences such as self- service and online banking. wells fargo has been rocked by scandals in the past couple of years . the banks annual profits have been either down or flat since 2015. right now wells fargo stock is down by three fourths of 1% . not greatpercent adding 74 poin s&p is flat the nasdaq down by 35 pointsenon sale early this morning. >> frank mallicoat takes us to the crowd camping out in san francisco. >> reporter: the doors open at 8:00 sharp any good 100+ wedding in line filed into clapping apple employees as the apple phone dose iphone x x and 10 x max made their debut. larger display, twice as fast, better camera and facial recognition. the earlier reviews give it a good thumbs-up expect first impression is not as big as i thought. that's a good thing. i thought it was going to be like two big to reach up to the topic >> they said it would be like a miniature ipad, but it's not really. like it's the same size as the a, just being resolution. >> the resolution is amazing. >> yeah. it is very crisp and clear

ceo tim sloan said the bank plans to cut 5 to 10% of its workforce citing what he called changing customerch as self-service and online banking. wells fargo's been rocked with a number of scandals over the past couple of years. the banks annual profits have been either down or flat since 2015. >>> if you notice a growing number of spam calls to your cell phone, you're not alone. a new study says that spam calls account for about of -- a third of mobile calls from 3% of early lester. the report says that next year half of all cell phone calls will come from scanners. the report was put together by first orion, a company that provides phone carriers and customers with call blocking technology. this afternoon on the 412, we talked with a person who is involved with the study.>> scammers are very sophisticated. they are using techniques that metric like neighborhood spoofing where the call from a number that looks just like yours. probably the same area code, same prefix, and consumers are more likely to answer. >> cell phone carriers are working with them to block spam calls. in the meantime

. >>> wells fargo announced plans to cut as many as 26,000 jobs over th tim sloan said the bank plans to cut five or 10% of its workforce, citing what he called changing customer preferences such as self- service and online banking. wells fargo has been rocked by a number of scandals as well in the past couple of years. the banks annual profits have been down or flat since 2015. >>> a jury in martinez found a man guilty in a cold case order from 35 years ago. the body of 25-year-old marcia carter of richmond was found in the trunk of her car in west sacramento in 1983. a few weeks earlier her children woke up to find their mother missing and a pool of blood on her bed. that homicide went unsolved for years. recently dna evidence linked her former boyfriend, terrel smothers of placer county to her death. her sons say the verdict gives them some sense of redemption. >> the life of degradation, poverty, lack, growing up around crackheads, being homeless, walking the streets with our dad having to lie to our friends and tell them they can't come over because i have some project to do. rea

ceo tim sloan made the announcement today. wells fargo has been under a cloud of scandal since 2015 when it admitted its employees opened millions of fake bank accounts for customers in order to meet unrealistic sales goals. ice om just, handi >>> if you want a plastic straw, you'll have to ask for one. california becomes the first state to bar full service restaurants from just handing them out. governor brown signed that bill today adding the move is a small step but that we must find wareduceand eliminate plastic waste. the rule doesn't extend to takeout places like fast food restaurants and does not kick in until 2019. the california coastal commission says that straws, the plastic ones, are the sixth most common item found on beach clean-up days. today.. that would have pushed the >>> for students hoping for a later start time at school, sorry. the governor blocked that bill today. that would have pushed the start of classes to 8:30 in the morning. governor brown says that these types of decisions are best handled by the

intraday spiking breaking news , tim sloan has just announced the company will cut 5210% of its workforce within the next three years. it has been trying so long for quite the time for the scandal ridden bank. it's been played by investigation in the accusation of bad-faith banking by its customers. that's the least of it. sloan has his work cut out for him. the stock is down nine years, down, i'm sorry, 9% year to date. it's at least gaining 1% at the moment. let's get to the trade warden news. the dow is powering through and just crushing it, hitting an all-time high at this hour. the money number for the record close, we are way above it, 26616. for those of you listening on sirius xm channel 116, 26680. stick around until the close if you want to see a homerun. we are kind of rounding second and ended third right now with about 58 minutes left before the closing bell rings. leading the search, intel, raising the stock for solid execution. you see intel and a lot of other names moving higher. intel better by two and half percent. of $47.28 for that stock and s&p 500, no slacker here, f

ceo tim sloan says changes are needed because customers are turning more to digital banking. >>> it's drivers have to pay a toll to get on and off treasure island. that's on top of the already expensive bay bridge toll. >> during peak hours weekdays, it will cost $3.50. on weekend, it will be $1 off peak hours. lyanne melendez is live with a closer look at the plan from treasure island. >> reporter: it could be a lot of money. let's say you go from treasure island to san francisco, san francisco back to treasure isla island. it all adds up. maybe you want to add the bay bridge toll. all of these fares, these rates still have to be approved by the san francisco board of supervisors. they vote on november 27th. right now on treasure island, if you can dream it, they can probably build it. >> there are less than 2,000 people living on treasure island now. what's contemplated is about 25,000 people by 2035. >> more people will mean more traffic congestion. part of the solution is to keep some people away by adding a toll in both directions. $3.50 during peak hours on weekdays and $2 durin

this is according to the bank's ceo tim sloan.is part of wells fargo, quote, ongoing transformation which addresses industry trends and change ins customers behavior. david: one thing, customers are not going to banks anymore. they're doing it at home. melissa: yeah. david: ongoing feud within the democrat party. a new plan to make it harder for nancy pelosi to reclaim the speakership. ♪ to your goals and needs. some only call when they have something to sell. fisher calls regularly so you stay informed. and while some advisors are happy to earn commissions whether you do well or not. fisher investments fees are structured so we do better when you do better. maybe that's why most of our clients come from other money managers. fisher investments. clearly better money management. i needthat's whenvice foi remembered that my ex-ex- ex-boyfriend actually went to law school, so i called him. he didn't call me back! if your ex-ex- ex-boyfriend isn't a lawyer, call legalzoom and we'll connect you with an attorney. legalzoom. where life m

ceo tim sloan works to pull the bank clear of customer abuse scandals and lagging stack price.headcount as he cleans up the bank and streamlines operations. growender is struggling to under a federal reserve asset cap. royal touch shell is in talks to sell interest in an oilfield to focus oil. the deal could value shall's stake at $1.3 billion. focus oil did not respond to a request for comment. adobe has agreed to acquire a software maker for $4.75 billion, bolstering its marketing tools in a bid to compete against salesforce and oracle. the deal, which would be adobe's largest ever, is expected to close during the fourth quarter. adobe purchased a commerce company to enter e-commerce in june. bloomberg is in talks to buy a food delivery company according to bloomberg sources. a bid for the london-based company would mark a major attempt by uber to dominate the food delivery business in europe. spokesman declined to comment. micron technology shares have asbled in extended trading first-quarter sales forecast fell short of analyst estimates. willhipmaker says revenue range fro

c-e-o tim sloan made the announcement today.he said it is due to changing customer preferences, whichincludes a rise in online banking. wells fargo has been dealing with a number of significant scandals. regulators slapped large fines on the bank after a wave of scandals over the past two years -- including the creation of millions of fake bank accounts... and forcing clients to buy car insurance they did not need. last quarter, wells fargo reported profit declines - and a rise in expenses.that forced the bank to find ways to cut costs, as it faces soaring legal bills.the bank also announced earlier this year, it plans to shut down 800 additional branches by 2020. new at 6 tonight. in the east bay... a life threatening stand-off between police and a man reportedly armed with a gun, ends without any shots being fired. in fact the person gave-up without a struggle... and police are crediting that, to a new peaceful resolution policy. kron4's haaziq madyun has the story (pkg)sot

ceo tim sloan said the bank plans to cut 5 to 10 percent of the workforce citing what he called kinguch as self- service and online banking. wells fargo has been rocked by a number of scandals past couple of years as we know and the bank's annual profits have been either down or flat. ringing the opening bell, another hot ipo company going public that is far-fetched. a retailer based in london that has offices around the world. companies going public is definitely thing a vote of confidence in the market and economy. that just started trading a little bit ago and is up 43 percent from the ipo price. >>> checking the market you can see the dow jones up 88 points. a third of a percent. 26,000, 745. the s&p 500 getting a boost from tech stocks. is a quarter of a percent. the nasdaq is down but just a little bit. struck another airline raising baggage fees. american -- american will charge $30 for the first checked back and $40 for a second. american airlines joins delta, united, and jetblue in raising baggage fees. >>> cold want to hire 90,000 workers across the country for the holiday

c-e-o tim sloan made that announcement yesterday.ys it's happening because of changing customer preferences...including a spike in online banking. wells fargo has also been dealing with a string of scandals... including the creation of millions of fake bank accounts... and forcing clients to buy car insurance they didn't need. the bank also announced earlier this year, it plans to shut down 800 branches by year 20-20. ( robin )amazon wants its voice assitant to be everywhere and apart of everything you do. therefore, the company unveiled several gadgets that will help by let you control the basic tasks, all by voice. the new products include an amazon microwave that can be told to defrost peas or reheat coffee. there's also a new echo for cars that can be asked to play podcasts, give driving directions, or make a call. amazon is also revealing a redesign of its hockey puck-shaped echo dot, saying it's now louder. ( robin )a pizza oven company called 'ooni' is offering people up to 1-thousand dollars a day... to sit at home and eat pi

the report says wells fargo board members were looking for options to replace tim sloan betsy duke saysthat wells fargo board of dreshgts reached o directors reached out to potential ceo candidates is false. tim has driven significant transformational change at wells fargo, which is benefiting all stakeholders >> i heard, you know, cohn could be a cnbc contributor if he played his cards right not guaranteeing we would be interest interested he was there for some interesting things >> has a lot to say. >> might put a good word in for him. >>> you know when a sports team wins, people head out to the streets and immediately start demonstrating? i didn't expect that to happen this quickly but apparently there are demonstrations i have a picture of some demonstrations already >> let him read. let him read >> i shouldn't say this, when they ask me to do this, they say just sit there for three hours, take some abuse from joe, chime in once in a while this will be a much heavier lift are you up for the challenge >> next hour >> don't know why this is tickling me. >> because we're infantile >>>