Archive for May, 2010
BP (NYSE:BP), Halliburton (NYSE:HAL), Transocean (NYSE: RIG) and the Cost of Deepwater Horizon
BP (NYSE:BP), Halliburton (NYSE:HAL) and Transocean (NYSE:RIG) all stand to lose into the billions of dollars in the explosion on the Deepwater Horizon oil rig which resulted in the oil spill stretching across the Gulf of Mexico. The majority of the responsibility will land on BP in the incident, which in the short-term alone could [...]
Towers Watson And Co (NYSE: TW) Upgraded to Buy from Citigroup (NYSE:C)
Citigroup (NYSE:C) upgraded Towers Watson and Co (NYSE:TW) from “Hold” to “Buy,” and have raised their target price from $52 to $60, citing their handling of the merger with Towers Perrin particularly well. At the time of the merger of Watson Wyatt with Towers Perrin, the company had been downgraded because of concerns over the [...]
Traders Sending Mixed Signals on Treasury Sale of Citigroup (NYSE:C) Stock
It was thought once the Treasury Department starting the process of selling shares in Citigroup (NYSE:C) it had a good chance of surging past the $5 mark on a sustainable basis, as the beginning of the removal of government control was looked at as a positive because of less interference and control of the company. [...]
New York Judge Rules that Bank of America (NYSE: BAC) Must Defend Fraud Claim Against Countrywide
A New York state judge ruled that Bank of America Corp (NYSE: BAC) must defend a claim made by a unit of MBIA Inc (NYSE: MBI) against Countrywide Financial, a company which Bank of America purchased in 2008, according to a report from the Wall Street Journal. The lawsuit was originally filed by MBIA against [...]
Bank Of America (NYSE: BAC) Names Robert Arth President Of Business Capital Unit
Bank of America (NYSE: BAC) announced Monday that Robert Arth has been selected as the new president of Bank of America Business Capital, a unit of the bank that provides asset-based lending worldwide. Bank of America Business Capital holds 34 percent of market share in the asset-based lending space, according to the bank. Arth, will [...]
Citigroup (NYSE:C) Says Euro Will Rally on Greece Bailout – Are they Serious?
According to Citigroup (NYSE:C) strategist Steven Englander the euro could surge above $1.35 as the possibility of a Greece bailout bringing more stability to Europe could drive up the beleaguered currency. Englander thinks investors may have over-responded to the euro and the crisis. He said in a note to clients: “As confidence gathers that the [...]
Apple Inc (NASDAQ: AAPL) to Shutdown Online Music Service
Apple Inc (NASDASQ: AAPL) announced that it would be shutting down an online music service that it purchased at the end of May, leading many analysts to believe that the technology company may soon launch an browser-based version of its iTunes music store. Apple purchase online music service Lala at the end of December for [...]
Warren Buffett Strongly Defends Goldman Sachs (NYSE:GS) Over Fraud Charges
At the highly popular annual shareholders meeting of Berkshire Hathaway (NYSE:BRK), Warren Buffett came out strongly in defense of Goldman Sachs (NYSE:GS) over the fraud allegations leveled against them. Buffett told shareholders that while Goldman has been hurt by the charges, he reminded them that they are far from being proven yet. The allegations center [...]
Lending Club’s Fees and Prosper.com’s Fees: Which Peer to Peer Lending Site Has the Lowest Fees for Borrowers?
Lending Club and Prosper.com are two companies which operate peer-to-peer lending marketplaces which allow borrowers to take out unsecured loans from other members of the site that act as lenders. Both marketplaces operate with slightly different lending modules in how interest rates are determined and what the fee structure looks like, borrowers should be aware [...]
American Banking News Twitter Updates for the Week of 2010-05-02
Obama Rejects Bipartisan Bank Deal – Huffington Post (blog) http://tinyurl.com/37b48bk #Econ # IMF Speeds Up Greece Efforts – Wall Street Journal http://tinyurl.com/28ujpft #Econ # Dodd Accepts Ban on Bank Derivatives Business – ABC News http://tinyurl.com/2fgfav7 #Econ # Rockford Loses More Than A Bank With Amcore's Demise – WIFR http://tinyurl.com/2326lp5 #Econ # IMF's Proposed Bank Taxes [...]
American Banking News Twitter Updates for the Week of 2010-05-02
Obama Rejects Bipartisan Bank Deal – Huffington Post (blog) http://tinyurl.com/37b48bk #Econ # IMF Speeds Up Greece Efforts – Wall Street Journal http://tinyurl.com/28ujpft #Econ # Dodd Accepts Ban on Bank Derivatives Business – ABC News http://tinyurl.com/2fgfav7 #Econ # Rockford Loses More Than A Bank With Amcore's Demise – WIFR http://tinyurl.com/2326lp5 #Econ # IMF's Proposed Bank Taxes [...]
Berkshire Hathaway (NYSE: BRK-B) Reports $3.6 Billion Preliminary Q1 Profit At Annual Meeting
Berkshire Hathaway (NYSE: BRK-B) announced over the weekend at its annual shareholder’s meeting, a preliminary first quarter profit of $3.6 billion, returning the firm to profitability for the period after losing $1.53 billion in the first quarter a year ago. The company is set to officially report full first quarter results on Friday. Berkshire’s results [...]
worst video player ever- after over2:00 there's still no video appearing 