Archive for May, 2010
Bank Of America (NYSE: BAC) Launches Disaster Relief Program For Tennessee Customers
Bank of America (NYSE: BAC) announced yesterday that is activating a disaster relief program in 42 Tennessee counties that have been designated as disaster areas by the Federal Emergency Management Agency due to mass flooding. The bank also said it will donate $50,000 to relief efforts, with half of the funds going to the American [...]
Citigroup (NYSE: C) To Pay Director $350K For As Little As Three Weeks Of Consulting
Citigroup (NYSE: C) will pay one of its directors 350,00 for as little as three weeks of consulting work, according to recent reports. Robert Joss, a former Wells Fargo (NYSE: WFC) executive, has an annual consulting deal that calls for him to advise on projects from time to time, with a minimum workload of three [...]
Goldman Sachs (NYSE:GS) Wins Every Trading Day For Quarter
Goldman Sachs (NYSE:GS) has proved once again why they’re the top investment bank in the world, as every trading day in the last quarter they generated a profit, something they had never done before. The metric used was where performance was at the end of each trading day, where the company didn’t make anything less [...]
Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC) Fighting Derivatives Provision
Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM), Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC) and Wells Fargo (NYSE:WFC). the five banks benefiting the most from trading derivatives, are out in full force to fight against the approval of a provision originated from Arkansas Senator Blanche Lincoln, which would prohibit the banks from trading derivatives. Executives from the [...]
Citigroup (NYSE:C) Reaffirms Bank of America (NYSE:BAC) “Buy” Rating
Citigroup (NYSE:C) released a research report today reaffirming their “Buy” rating on Bank of America (NYSE:BAC). In the report, Citigroup gave their reasoning as this: “.,. we believe BAC represents the best value in the group trading at a discount to the group on normalized earnings.” The price target of Citigroup on Bank of America [...]
Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JP Morgan (NYSE:JPM) and Morgan Stanley (NYSE:MS) All Surge on News of $1 Trillion Loan Package
Citigroup (NYSE:C), Bank of America (NYSE:BAC), Goldman Sachs (NYSE:GS), JP Morgan (NYSE:JPM) and Morgan Stanley (NYSE:MS), along with numerous other company stocks, have surged upward on the news the European Union will be offering a loan package to combat the crisis worth somewhere near $1 trillion. Most commodity companies also had major gains as the [...]
Bank of America Corp (NYSE: BAC) Political Donations Swing from Left to Right
Bank of America Corp (NYSE: BAC) is switching directions with its political contributions and has given far more cash to Republican congressional candidates than to Democrats for the 2010 mid-term elections, according to data from the for Center for Responsive Politics. During the 2008 elections, Bank of America donated more to Democratic candidates, but with [...]
Bank Of America (NYSE: BAC), Citigroup (NYSE: C) To Take Charge For U.K. Bonus Tax
Bank of America (NYSE: BAC) and Citigroup (NYSE: C) reported in regulatory filings that second quarter earnings will likely take a large hit due to a tax imposed on bonus compensation by the United Kingdom. The tax, which was implemented in April, calls for a one-time payroll tax of 50 percent on bonuses paid during [...]
Lending Club Extends Photo Contest Deadline
Lending Club, a company which offers a peer to peer lending marketplace, has extended a contest that they are running to collect backgrounds for their new homepage to May 31st. The contest was originally scheduled to end on April 30th. Lending club said that it has received 180 photos for its new website that has [...]
Peer to Peer Lender Prosper.com Implements New Loan Servicing Platform
Prosper.com, a company which offers a peer to peer lending marketplace, has implemented a new loan servicing platform which “involved the integration of more than 2 million loan based transactions”, according to a statement on its website. Prosper said that they are still working on reconciling some anomalies that have caused issues in a small [...]
American Banking News Twitter Updates for the Week of 2010-05-09
Does Online Banking Need its Own iPad App? – PC World http://tinyurl.com/39v33ql #Econ # Puerto Rico's Largest Bank Acquires Westernbank – Wall Street Journal http://tinyurl.com/2f752xy #Econ # National Bank Is Pick of Analysts Who Say Greece Won't Default – BusinessWeek http://tinyurl.com/24mmtvz #Econ # ECB Decision Fully Shields Greek Banking System:Papaconstantinou – BusinessWeek http://tinyurl.com/2a8e2yr #Econ # [...]
Bank of America Corp (NYSE: BAC) and Citigroup, Inc (NYSE: C) to Pay $865 Million in U.K. Bonus Taxes
Bank of America Corp (NYSE: BAC) and Citigroup, Inc (NYSE: C) will pay a combined $865 million to cover a new U.K. tax on employee bonuses as the British government seeks to mitigate public outcry over its bank bailout. Bank of America which will pay $465 million in the tax said that the charge should [...]
Bank of America (NYSE:BAC) on British Tax and Exposure to Greece
In a securities filing today, Bank of America (NYSE:BAC) talked about the cost of the British tax on bank bonuses and what it would cost them, along with their exposure to the Greece sovereign debt crisis. Concerning the British tax on banking bonuses, Bank of America said they estimate it may cost them close [...]
Bank Of America (NYSE: BAC) Settles Countrywide Class Action Suit For $164 Million
Bank of America’s (NYSE: BAC) Countrywide Financial Corp agreed to a $624 million settlement on Friday over a lawsuit that claimed the mortgage lender mislead investors about its lending methods. The deal was struck with the New York State Common Retirement Fund and five other New York City pension funds. The settlement calls for Countrywide [...]
Bank of America (NYSE:BAC), Citigroup Inc. (NYSE:C) and J.P. Morgan (NYSE:JPM) Help HCA Ready IPO
The largest operator of hospitals in the U.S., HCA, with the management aid of Bank of America (NYSE:BAC), Citigroup Inc. (NYSE:C) and J.P. Morgan (NYSE:JPM), filed plans today for their IPO, which is estimated to raise about $4.6 billion for the company. This assumes the registration by HCA on how much they’re going to sell [...]
worst video player ever- after over2:00 there's still no video appearing 