Archive for May, 2010
J.P. Morgan Chase (NYSE: JPM) Taking “Second Look”. But Are Businesses Looking Back?
When a bank in the year 2010, particularly a bank that has been branded as “too big to fail”, runs an ad pledging a commitment to lend $10 billion to small businesses, it doesn’t take long for the fact checkers to try to verify the unverifiable. And so it is that, months after running a [...]
Bank of America Corp (NYSE: BAC) Appoints New Executive in India Unit
Bank of America Corp (NYSE: BAC) has appointed a new executive in its India unit. The Charlotte, NC-based bank has appointed Asit Bhatia as its new managing director for Corporate and Investment Banking in India. Bhatia, who will be based in Mumbai, has rejoined the bank after leaving the company in late 2009. Bhatia will [...]
Haiti to Receive $1 Million in Grants from Citigroup (NYSE:C) for Microfinance Institutions
Local microfinance institutions in Haiti will be the recipients of $1 million in grants from Citigroup which will be distributed via three of those institutions to aid in the rebuilding of the microfinance industry, which was devastated, along with the rest of the country, by the earthquake and the aftermath from it. Receiving the grants [...]
Beazer Homes USA (NYSE:BZH) Price Target Raised by Citigroup (NYSE:C)
The price target of Beazer Homes USA (NYSE:BZH) has been raised by Citigroup (NYSE:C) to up to $7 a share today. Beazer Homes has been lingering for some time because of the need to focus on issues related to their balance sheet. That seems to be under control now, and so Citigroup believes they can [...]
Citigroup (NYSE:C) Launching $200 Million Small Business Fund
Citigroup (NYSE:C) CEO Vikram Pandit said in a recent interview that the bank will soon put into motion a $200 million small business fund which will offer loans to help small businesses in lower and medium income communities. The targeted focus of the loans will be charter schools and service institutions which the bank usually [...]
Citigroup, Inc (NYSE: C) and Bank of America (NYSE: BAC) Pressured by U.S. Treasury to Step Up Home Loan Modifications
Citigroup, Inc (NYSE: C), Bank of America Corp (NYSE: BAC) and other large-cap banks are being pressured by the U.S. Treasury Department to improve the rate that they are providing modifications at. Citigroup, Bank of America and others have stepped up the amount of loan modifications that they have provided to customers during the last [...]
Citigroup (NYSE: C) comments on SunTrust (NYSE: STI) and BB&T (NYSE: BBT)
Citigroup (NYSE: C) analysts commented on several south-eastern regional banks including BB&T Capital (NYSE: BBT), SunTrust (NYSE: STI) and Synovus Financial (NYSE: SNV) Citigroup reiterated buy recommendations on BB&T and SunTrust and upgraded Synovus Finanical to “Buy/High Risk” on a recent capital raise. Citigroup wrote, “Betting on Southeast Survivors — During the past year the [...]
MasterCard (NYSE: MA) Q1 Profit Jumps 24 Percent On Transaction Growth
MasterCard (NYSE: MA) reported Tuesday that first quarter earnings jumped 24 percent as the number of transactions the company processed and the prices they charged merchants to handle them were both higher in the period. The credit card company said it earned $455 million or $3.46 a share in the first quarter, up from $367 million [...]
Bank of America (NYSE:BAC) Reiterates “Buy” Rating on Itau Unibanco Holding SA
Bank of America (NYSE:BAC) analyst Jorg Friedemann continued his “buy” rating on giant Brazilian bank Itau Unibanco Holding SA, citing “improving asset quality and efficiency,” in a note to clients. The largest bank in Brazil as measured by market value, Itau Unibanco Holding SA released their first quarter report which showed an increase in earnings [...]
Citigroup (NYSE:C): Commodity Companies BHP Billiton (ASX:BHP) and Xstrata (LON:XTA) May Cut Expansion, Acquisitions on Super Tax
Planned expansion by BHP Billiton (ASX:BHP) and Xstrata (LON:XTA) may be dramatically cut back according to Citigroup (NYSE:C) and others, as a new 40 percent levy by the Australian government, along with double taxation which is paid to states, could cause the commodity mergers and acquisitions sector to “dry up.” According to BHP, once the [...]
Citigroup (NYSE:C) Breaks Up ‘Telecommunications, Media and Technology’ Unit, Bill Kennish Lands at Macquarie Group (ASX:MQG)
The head of telecommunications, media and technology banking at Citigroup (NYSE:C), Bill Kennish, has reportedly left the bank as the company overhauls the unit. The team headed by Kennish was broken up, leading to his departure. Last week Johannes Fritze, the managing director of the European real estate team also left, although that was separate [...]
CEO Moynihan Discusses Whether Bank of America (NYSE: BAC) is “Too Big To Fail”
Bank of America Corp (NYSE: BAC) CEO Brian Moynihan appeared on Fox Business with Neil Cavuto and defended the company’s current size, saying that it needs to be that large to best serve its customers. Here’s the video of the interview: Watch the latest business video at video.foxbusiness.com
Citigroup (NYSE:C) Says GDP of Taiwan to Grow 7.2 Percent
Citigroup (NYSE:C) Taiwan’s top economist, Cheng Cheng-mount, said in the second quarter Taiwan’s economy is on course to grow by 8 percent, and on an annual basis, 7.2 percent. “Taiwan’s economic growth forecast for this year will likely be higher than the Taiwan Institute for Economic Research’s latest estimate of 5.11 percent,” said Cheng. Leading [...]
UBS (NYSE: UBS) Swings To Q1 Profit, Tops Estimates
UBS AG announced Tuesday that it swung back to a profit in the first quarter as strong results from its investment banking unit helped boost the bottom line. The Swiss bank said it earned 2.2 billion Swiss francs ($2.02 billion) in the first quarter, compared to a loss of 1.98 billion francs in the same [...]
Lending Club Fees and Prosper.com Fees: Which Peer to Peer Lending Site Has the Lowest Fees for Investors?
Prosper.com and Lending Club are two companies which operate peer-to-peer lending marketplaces which allow their members to serve as lenders and provide loans to other members of the site. As with any investment, fees matter. Investors should be aware of what they will have to pay in fees to help determine which peer to peer [...]
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