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Wells Fargo reports higher earnings


    (Reuters) - Wells Fargo & Co reported higher fourth-quarter earnings as the bank set aside less money to cover bad loans.

    The fourth-largest U.S. bank by assets said net income applicable to common shareholders was $3.89 billion, or 73 cents per share, compared to $3.2 billion, or 61 cents per share, a year earlier.

    (Reporting By Rick Rothacker in Charlotte, North Carolina, editing by Dave Zimmerman)