Home » Archive for April, 2010
Citigroup’s (NYSE:C) Richard Stuckey to Retire After Cutting Toxic Assets
Citigroup (NYSE:C) announced Richard Stuckey has stepped down from his position as head of the Special Asset Pool where he oversaw about $241 billion in bad bonds and mortgages which he has trimmed by close to half since January 2009,... More of this article »
Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) Tap Houlihan Lokey for Advise on Gramercy Capital (NYSE:GKK) Restructuring
Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and other creditors of Gramercy Capital (NYSE:GKK) have asked Houlihan Lokey to advise them on the strategic options available in a proposed restructuring of approximately $800 million in... More of this article »
Treasury Nets $324 Million On PNC Financial (NYSE: PNC) Warrant Auction
The U.S. Treasury Department auctioned of the warrants it held on PNC Financial Services (NYSE: PNC) Friday, raising roughly $324 billion from the sale. The auction has followed several others that has enabled the Treasury to recoup... More of this article »
What Would a Reverse Stock Split Mean for Citigroup? (NYSE: C)
Citigroup (NYSE: C) remains consistently at the top of the New York Stock Exchange’s volume leaders list on a daily basis because has 28.62 billion outstanding shares and a market-cap of $130 billion. With Citigroup’s stock... More of this article »
Bank of America (NYSE: BAC) Looks to Education to Prevent Future Foreclosures
Bank of America Corp (NYSE: BAC) is not looking to a new round of federal regulation to prevent the next mortgage crisis, but rather the Charlotte-based bank is seeking to educate borrowers through a multi-faceted online approach in... More of this article »
JPMorgan (NYSE: JPM) To Cease Offering Tax Refund Loans
JPMorgan Chase (NYSE: JPM) announced that it will no longer provide financing for tax-refund loans for about 13,000 independent prepares, according to a new report from Business Week which suggested that the move will help push customers... More of this article »
Canada Faces Real Risks says Morgan Stanley (NYSE:MS)
After some glowing reviews from Moody’s (NYSE:MCO) and the Bank of Canada, it seems the country is poised to grow at rates faster than expected, but Morgan Stanley (NYSE:MS) says there are some very real risks Canada faces, and... More of this article »
Should You Use Lending Club for Debt Consolidation?
If you have several thousand dollars of miscellaneous debt floating around, such as credit cards or personal loans, it might be worth considering consolidating your debt into a single loan for convenience purposes and because it could... More of this article »
Student Lending Reform May Hamper Growth in Student-Targeted Peer to Peer Lending Sites
Fynanz and People Capital, Two fledgling peer to peer lending companies, which offer peer to peer loans to student borrowers, may face trouble finding customers given the student loan reform legislation which was passed as part of... More of this article »
Bank of America (NYSE:BAC) Chairman Charles “Chad” Holliday Could Help International Expansion
The choice of Charles “Chad” Holliday as the new chairman of Bank of America (NYSE:BAC) may have been at least partially influenced by his experience as CEO of DuPont (NYSE:DD) at a time when the company was expanding it... More of this article »
Judge Rules California Localities Can Bring Civil Cases Against Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Wells Fargo (NYSE:WFC)
A civil case against Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) and Wells Fargo (NYSE:WFC), and other, was given the go ahead by a federal judge concerning an alleged conspiracy in a bid rigging scheme contracts and derivatives related... More of this article »
Visa Q2 Profit Jumps 33 Percent On Transaction Growth
Visa Inc. (NYSE: V) announced Wednesday that fiscal second quarter earnings jumped 33 percent as revenue pushed higher on gains in transaction volumes. The credit card company said it earned $713 million or 96 cents a share in the... More of this article »
General Electric (NYSE: GE) Says Economy, Business Has Stabilized
General Electric’s (NYSE: GE) annual shareholder meeting kicked off Wednesday and the industrial and financial giant said that it believes the broader economy has stabilized and that its business units are improving. The meeting,... More of this article »
Ex-Dupont CEO Named Chairman of the Board for Bank of America Corp. (NYSE: BAC)
Bank of America Corp. (BAC) directors chose as chairman former DuPont Co. Chief Executive Charles O. Holliday Jr., elevating a close adviser to the giant bank’s new top boss. The move, which came after the Charlotte, N.C., company’s... More of this article »
The More Things Change? Bank of America Corp. (NYSE: BAC) Shareholders Approve 1 of 6 Proposals
At the Bank of America Corp. (BAC) annual meeting on Wednesday, investors peppered Chief Executive Officer Brian Moynihan with questions and complaints about its lending policies and dividend. Still, when it came to proposals that... More of this article »
Bank of America (NYSE:BAC) Says Retirement Farther off for Many Baby Boomers
Bank of America (NYSE:BAC) economist Ethan Harris said in a Bloomberg Radio interview today that baby boomers will probably have to wait longer for retirement and work longer because of the financial crisis and its effect on their... More of this article »
Citibank (NYSE:C) Says French, German Banks Have Greatest Exposure to Greek Debt
Citibank (NYSE:C) analysts say French and German banks are at high risk as their exposure to Greek debt could result in billion of euros in losses and write-downs for the financial institutions based in those countries. Citibank said... More of this article »
Citigroup (NYSE: C) CEO Vikram Pandit Writes in Support of Financial Reform
Citigroup’s CEO (NYSE: C) Vikram Pandit penned a letter to President Obama to support key financial reform principals after the White House called upon executives in the financial industry last week to support passing strong... More of this article »
Deutsche Bank (NYSE: DB) Q1 Profit Jumps On Investment Banking Strength
Deutsche Bank (NYSE: DB) announced Tuesday that first quarter profit surged nearly 50 percent due to fewer write-downs and strong results from its investment banking unit. The bank said it earned 1.76 billion euros ($2.34 billion)... More of this article »
Wells Fargo (NYSE:WFC) Ready to Take Hulk Hogan to the Mat
Many of us probably remember when Nick Hogan, the son of Hulk Hogan, got in an accident which cause brain damage to the passenger in the car – John Graziano. That has resulted in a lawsuit from Hulk Hogan against Wells Fargo... More of this article »
Will Citigroup (NYSE:C) Own a Larger Piece of Itself?
Now that the U.S. Treasury has announced it is going to sell the first batch of shares of Citigroup (NYSE:C), it does make you wonder how that will play out as far as Citigroup beginning to buy back shares in the company to show their... More of this article »
Bank Of America (NYSE: BAC) Provided $150 Billion In Credit During Q1
Bank of America (NYSE: BAC) announced Tuesday that it extended $150 billion in credit during the first quarter of 2010, the most provided by any U.S. bank. The information was part of the bank’s Lending and Initiative Report, which... More of this article »
Citigroup (NYSE:C), Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) Added to Maker-taker Fee Model by ISE
Citigroup (NYSE:C), Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) have all been added to the maker/take fee model by the International Securities Exchange based on solid results when the plan launched earlier in the month. As... More of this article »