Archive for March, 2010
JPMorgan Chase (NYSE:JPM) Touting Increased Lending to Small Businesses
JPMorgan Chase (NYSE:JPM) has been marketing its success at providing loans to small businesses after given them a “second look.” The second look theme came from Washington in hopes some of the original companies rejected in their loan applications would be offered a loan when the banks took a closer look beyond the electronic scoring [...]
Citibank (NYSE:C) Economist: Russian Ruble Rising as Central Bank Attempts to Cool it Off
The Russian ruble has surged to a 14-month high today as, and, according to Elina Ribakova, chief economist at Citibank (NYSE:C), the central bank of Russia is searching for ways to slow the rise down as investors are looking to the currency as a strong play. Not even a spurt of rate cuts over the [...]
Is the Worst Over for Citibank? (NYSE: C)
Citibank (NYSE: C) lost billions of dollars from losses related to the financial crisis and is currently 27% owned by the federal government, but Bruce Berkowitz argues that the worst is over for Citibank. Berkowitz, manager of the $11 billion Fairholme Fund, recently purchased more than $700 million worth of equity in Citi. Berkowitz was [...]
Morgan Stanley (NYSE: MS) Picks up Citigroup’s (NYSE: C) Gary Shedlin
Morgan Stanley, a leading merger-adviser for financial companies, (NYSE: MS) announced that it has hired Citigroup’s (NYSE: C) Gard Shedlin, whose clients include BlackRock Inc’s Laurence Fink Mr. Shedlin will become a vice chairman, said spokeswoman Alyson Barnes. Shedlin most recently served as chairman for Citigroup’s investment-banking effort for financial institutions, with a focus on [...]
Citigroup (NYSE: C) Scoops Up Two Barclays (NYSE: BCS) Executives for Wealth Management and Private Banking
Citigroup (NYSE: C) has hired two executives from Barclays (NYSE: BCS) who will head regional divisions at the company’s private-banking and wealth management units. Mark Connally and Michael Smith, both former Barclays Plc employees, will serve as managing directors that will oversee regions of Citigroup’s wealth-management services unit. Conally will be a director for the [...]
Citigroup (NYSE: C) Raises Price Targets on Kraft Foods (NYSE: KFT) and Adobe (NASDAQ: ADBE)
Citigroup raise the price targets of packaged-food maker Kraft Foods Inc (NYSE: KFT) and Adobe (NASDAQ: ADBE), a software development company. An analyst at Citigroup raised the company’s price target for Kraft Foods Inc to $36, up from $33 citing a strong probability for growth after its recent acquisition of Cadbury. Citigroup set its estimated [...]
Citibank (NYSE: C) CEO Pandit to Speak at Citi 2010 Financial Services Conference
Citibank (NYSE: C) announced that its CEO, Vikram Pandit, will be presenting at Citibank’s Citi 2010 Financial Services Conference just two days before the conference is scheduled to begin. Pandit will be speaking on Thursday, March 11th 2010 at the conference. According to a statement made by Citi, the presentation is expected to begin at [...]
Recession Takes Bite Out Of Tax Preparers, H&R Block (NYSE: HRB) Reports Fewer Filings
Last year’s recession and surging unemployment levels impacted many U.S. households and businesses. However, it is just now impacting tax preparers like H&R Block (NYSE: HRB) who have seen filings drop more than 9 percent in the first two months of 2010 compared to a year ago. The nation’s largest tax preparer reported the decline [...]
What to Know When Searching for a Personal Loan Online
If you are in need of borrowing some money to make a major purchase or take care of an unexpected expense, you have a number of options, both online and off. You could walk down to your local bank or credit union and ask if they would be willing to provide you with a short [...]
Large Banks Including Citigroup (NYSE: C), Bank of America (NYSE: BAC), Goldman Sachs (NYSE: GS) and Others Set Aside $298 Billion for 2009 Compensation
21 of the world’s largest western banks, including Citigroup (NYSE: C), Bank of America (NYSE: BAC), Goldman Sachs (NYSE: GS) and others set aside more than $298 billion for 2009 compensation and benefits in the midst of intense scrutiny over pay practices from regulators, shareholders and the public alike. The data, first published by eFinancialNews [...]
JP Morgan Chase is Largest Hedge Fund Company (NYSE: JPM)
JP Morgan Chase & Co (NYSE: JPM) is the world’s largest hedge-fund firm in by assets, according to a new report from Pensions & Investments magazine. JP Morgan, which owns Highbridge Capital Management LLC, managed a total of $53.5 billion at the end of 2009, according to a survey that the magazine published on its [...]
Wells Fargo (NYSE:WFC): HAMP a Disaster
In view of the disaster HAMP has become, Wells Fargo (NYSE:WFC) was recently asked by president of NAB Research when the program would end for them, considering they have about 15,000 people working on and in it. Nancy Bush, the NAB Research president, said the response was, “They just shrugged their shoulders and said maybe [...]
AIG Sells International Life Insurance Business for $15.5 Billion to MetLife (NYSE: MET), (NYSE: AIG)
American International Group (NYSE: AIG) announced that it will be selling its foreign life insurance business to MetLife (NYSE: MET) for $15.5 billion after more than two years of negotiation. The deal will assist MetLife, who is currently the largest life insurer in both the United States and Mexico, to diversify its revenue across new [...]
U.S. Steel (NYSE:X) Up On Goldman Sachs (NYSE:GS) Upgrade
After Goldman Sachs (NYSE:GS) analyst Sal Tharani upgraded U.S. Steel (NYSE:X) from “neutral” to a “buy,” U.S. steel surged 2 percent quickly reach over $60 a share. Along with the upgrade, Tharani increased the price target for shares in the company significantly, raising them from $55 to $70. The reasoning behind the upgrade was the [...]
Morgan Stanley (NYSE:MS) Hires Gary Shedlin Away from Citigroup (NYSE:C)
Morgan Stanley (NYSE:MS) has reportedly hired Gary Shedlin, the chairman of Citigroup’s (NYSE:C) investment banking Financial Institutions Group. A spokeswoman for Morgan Stanley said the role of Shedlin at the company will be as vice president in their financial institutions department. Shedlin’s position at Morgan Stanley is a new one at the company. Shedlin, who [...]
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