Home » Archive for February, 2010
JP Morgan Chase (NYSE: JPM) Bullish on Japanese Banking Sector
JP Morgan Chase & Co (NYSE: JPM) raised its recommendation on the largest Japanese bank, indicating that the firm may be bullish on the Japanese financial sector, helping raise the Nikkei in Monday’s trading. JP Morgan Chase’s... More of this article »
Citibank (NYSE: C) Reportedly Seeking Buyer for its Egg Internet Business
Citibank (NYSE: C) is rumored to be looking for a buyer for its U.K. based Egg internet banking business, just three years after purchasing it for £546 million. Several sources have reported that Citi held talks with trade buyers... More of this article »
Pending Federal Regulations Influence JP Morgan Chase’s Acquisition Strategy (NYSE: JPM)
JP Morgan Chase (NYSE: JPM) investment banking chief James Staley acknowledged on Thursday that pending regulatory changes that are being considered in Congress has influenced the company’s acquisition strategy. The admission by... More of this article »
New Bank of America CEO Earned $6.5 Million in 2009 (NYSE: BAC)
Bank of America (NYSE: BAC) CEO Brian Moynihan earned a total of $6.5 million in compensation during 2009 when he served in a number of executive positions, according to a new regulatory filing from the company. Most of Moynihan’s... More of this article »
Citibank Apologizes to Customers for Printing Social Security Numbers on Envelopes (NYSE: C)
During the month of January, Citibank (NYSE: C) sent over 600,000 mailers to customers with their social security numbers printed on the outside of the envelopes. The company has since apologized for their mistake in a public statement... More of this article »
Debt Consolidation Loans Becoming Increasing Popular on Peer-to-Peer Lending Marketplaces
Borrowers are turning to peer-to-peer lending companies, such as Prosper Marketplace and Lending Club, for debt consolidation loans more than every other type of loan request made, according to new data from Prosper Marketplace. Prosper... More of this article »
J.P. Morgan (NYSE:JPM): Passing Funding Costs to Borrowers
At a recent conference for investors in J.P. Morgan Chase (NYSE:JPM), Jes Staley, investment bank chief executive officer at the company, talked of concerns over the increasing cost of fixed income trading, whereby he said if increased... More of this article »
Why is Bank of America (NYSE:BAC) Stock Rising?
In light of the ongoing recession and continual bad economic news emerging from the Labor Department and Commerce Department, it’s definitely puzzling as to why Bank of America (NYSE:BAC) has become one of the investment darlings... More of this article »
Citibank Set to Expand Singapore Division (NYSE: C)
Citibank’s (NYSE: C) Singapore unit is set to expand its distribution network and franchise by adding at least four new branches and 50 new any-time teller machines this year. The additional branches will place a total of 26 Citibank... More of this article »
Prosper Marketplace Takes Steps to Reduce Risk for Peer-to-Peer Lenders
Prosper Marketplace, the peer-to-peer lending company that has originated more loans than any other company in its industry, recently has come under fire for being an investment that is too high-risk and has now outlined what steps... More of this article »
Prosper Marketplace Favors Regulator Changes for Peer-to-Peer Lending
Prosper Marketplace CEO Chris Larsen recently commented on the ongoing development of regulation for the fledgling peer-to-peer lending industry commenting that he favors a holistic regulator that “has the best interests of both... More of this article »
Goldman Sachs (NYSE:GS) Questioned on Build America Bonds Underwriting Fees
Goldman Sachs (NYSE:GS) has come under fire concerning another issue as Senator Charles E. Grassley, the senior Republican on the Finance Committee, asked in a letter to Chief Executive Lloyd C. Blankfein about the underwriting fees... More of this article »
Morgan Stanley (NYSE: MS) Chairman Mack Says Wall Street Pay To High, But Likely To Remain
While speaking at question and answer session hosted by retired Bank of America CEO Hugh McColl Jr., Morgan Stanley (NYSE: MS) Chairman John Mack said investment banker pay is still too high, but that it is unlikely to change with... More of this article »
JP Morgan Chase CEO Says U.S. Banks Immune from European Debt Crisis (NYSE: JPM)
JP Morgan Chase & Co (NYSE: JPM) CEO Jamie Dimon said that United States banks would largely be immune from the current debt crisis in Greece and other European countries. Dimon, speaking at JP Morgan’s annual investor day on... More of this article »
Look Who’s Back. Citibank (NYSE: C) and Wells Fargo & Co. (NYSE: WFC) Among Big Banks Courting Customers
They’re back! But the question is, do you still want them? A recent article at CNNMoney.com shows that after a year of bonuses, bailouts, tight credit, rising fees, and reduced lending, some of the nation’s top lenders,... More of this article »
Bank Of America (NYSE: BAC) Warrants May Offer Investors Hearty Return
If returns from past auctions are any hint of what may be made on the Bank of America (NYSE: BAC) warrants being auctioned off in the next month, investors may be lined up at the door. The coming auction will be the largest conducted... More of this article »
Brokers “Hitting the Jackpot” with Retention Bonuses at Morgan Stanley (NYSE: MS)
In what is becoming an almost weekly ritual, bonuses were back in the news. This time the issue was retention bonuses and the target was brokers at Morgan Stanley’s (MS) Smith Barney unit. As reported in the Wall St. Journal, about... More of this article »
Wells Fargo Predicts 7% Appreciation for Chinese Yuan through 2011 (NYSE: WFC)
Wells Fargo & Co said that the Chinese Yuan may appreciate by as much as 7% over the next 18 months and that current Yuan forwards are underestimating the pace of gains in China’s currency. China’s central bank may allow the... More of this article »
Citibank Backpedals on Shutting Down Account for Gay Website Owner (NYSE: C)
Citibank (NYSE: C) executives backpedaled after a low-level Citibank executive froze an account associated with a gay website, stating that the account did not meet Citibank’s standard policies. Jason Goldberg, a Stanford MBA that... More of this article »
Lending Club Launches Redesigned Website
Lending Club, the fastest growing peer-to-peer lending company in the United States, has launched a new version of their website today, featuring a brighter color scheme and a new red and navy logo. Lending Club’s new website features... More of this article »
Lehman Brothers (OTC:LEHMQ) and JP Morgan Chase (NYSE: JPM) Reach Settlement on Bankruptcy Case
Lehman Brothers Holdings Inc (OTC:LEHMQ) will pay JP Morgan Chase & Co (NYSE: JPM) $557 million in cash and allow the bank to keep $7.7 billion in collateral to settle many of the bank’s claims in Lehman Brothers bankruptcy case. JP... More of this article »
Freddie Mac (NYSE: FRE) Q4 Loss Narrows; Gov’t To Delay Reform On Freddie & Fannie Mae (NYSE: FNM)
Treasury Secretary Timothy Geithner said that plans to redesign the way Freddie Mac (NYSE: FRE) and Fannie Mae (NYSE: FNM) do business have been pushed back until 2011. However, a set of principles and objectives for the two mortgage... More of this article »
More Investors Betting Against Citibank (NYSE: C) and Bank of America (NYSE: BAC)
An increasing number of investors are betting that both Citibank (NYSE: C) and Bank of America (NYSE: BAC) will see significant drops in their stock prices in the near future, based on new data released from the New York Stock Exchange... More of this article »