Archive for June, 2010
JP Morgan Chase (NYSE: JPM) London Unit Hit With Record Fine
British financial regulators hit the London unit of JP Morgan Chase (NYSE: JPM) with a record 33.3 million pound ($48.8 million) fine for comingling a portion of client money with firm capital. According to the Financial Services Authority (FSA), JP Morgan Securities Ltd (JPMSL) failed to separate all funds between November 2002 and July 2009. [...]
AT&T to Drop Unlimited Data Plans for iPhone and iPad. (AAPL, T)
AT&T (NYSE: T) will no longer be offering unlimited data plans to Apple (NASDAQ: AAPL) iPhone and iPad users on June 7th. AT&T instead will be offering a new data plan for iPhone and iPad owners, called “DataPro” which will be offered on June 7th, which will provide 2 GB of data for $25.00 per [...]
Facebook Advertisers Quadrupled in Number During Last 18 Months
Facebook said on Wednesday that the number of advertisers placing ads on its social network has more than quadrupled during the last 18 months as marketers hope to get their products in front of its 500 million plus users. Offices have been opened by Facebook around the world to serve advertising clients and the company [...]
Bank of America Corp (NYSE: BAC) Apologizes for Poor Modification Performance
Bank of America Corp (NYSE: BAC) announced the details of a plan on Wednesday which will partially forgive the debt of homeowners who are upside down on their mortgages. As part of the announcement, a Bank of America Corp (NYSE: BAC) executive expressed disappointment in the company’s overall efforts to get customers mortgages modified via [...]
NHTSA May Looking into Unintended Acceleration Issues in Ford Fusion & Mercury Milan (NYSE: F)
The National Highway Traffic Safety Administration will be opening an investigation into a possible problem with floor-mat interference on 2010 Ford Fusion and Mercury Milan models. The investigation rings of déjà-vu coming just months after Toyota faced a similar investigation from the NHTSA which suggested that floor mats in the vehicles may cause the accelerator [...]
Citigroup, Inc (NYSE: C) Hires New Debt Executive in Asia Pacific Division
Citigroup, Inc (NYSE: C) has named Duncan Philips as a new co-head of the company’s debt syndicate team for Asia Pacific region excluding Japan effective immediately, according to a report from Dow Jones Newswires. The report cited an internal memo saying that Philips, who was formerly the head of Citigroup’s Japan debt syndicate, now jointly [...]
Prosper Marketplace Reverses Decision on Loan Application Process
Prosper.com, which runs a peer to peer lending website called Prosper Marketplace, reversed an earlier decision in which it had no longer required borrowers to state why they wanted to take out a loan as part of the application process. The peer to peer lending company previously decided that it would no longer ask borrowers [...]
Lending Club Passes 10 Million in Monthly Loan Origination, Hires New CMO
Lending Club, a company which operates a peer to peer lending marketplace, issued a press release this morning announcing that it had passed more than $10 million in monthly loan originations during May 2010. The company said that this is the first time that any peer-to-peer lending in the United States has funded that amount [...]
General Electric (NYSE: GE) Denies that NBCU CEO is Stepping Down
General Electric Co. (NYSE: GE) denied a report published on Wednesday that NBC Universal CEO Jeff Suzker has reached a deal to step down from the company after Comcast’s acquisition of a controlling stake in the media giant has been completed. The New York Post reported on Wednesday that Zucker would receive an exit package [...]
Analysts Predicts 6.2 Million iPad Sales in 2010 (AAPL)
Apple (NASDAQ: AAPL) announced on Monday that it marked <a href=”http://www.ipadweek.ly/2010/06/apple-sells-2-million-ipads-in-58-days/”>the 2 millionth iPad sale</a> this week and now Gene Munster, an analyst with Piper Jaffray, predicts that Apple will sell as many as 6.2 million devices in 2010 citing strong international demand for the device. Munster issued a research note to investors on Tuesday, [...]
Ford (NYSE: F) to Offer Free In Home Charging Stations to EV Buyers
Ford Motor Co. (NYSE: F) announced on Wednesday that it will provide nearly 5,000 in-home charging stations for buyers of the 2011 Ford Transit Connect Electric. Ford said that it would be partnering with Coulomb Technologies to offer free in-home charging stations to some of its first elective vehicle customers. Buyers will be eligible for [...]
Citigroup, Inc (NYSE: C) To Shutter 375 CitiFinancial Branches
Citigroup, Inc (NYSE: C) announced on Wednesday that it will shut down 375 CitiFinancial branches across the United States and Canada which will lead to the elimination of approximately 700 jobs. The New York-based bank also said that it will convert 182 of its U.S. branches into servicing centers which will provide information to customers [...]
AT&T (NYSE: T) To End Unlimited Data Plan For SmartPhones, Offer Tiered Options
AT&T announced Wednesday that it will stop offering its unlimited data plan to new customers, opting for tiered plans that give users certain monthly limits. The company said the move will likely lower bills for a majority of its customers based on past usage trends. The telecom giant has decided to end its $30 a [...]
Bank Of America (NYSE: BAC) Begins Principal Reduction Program
Bank of America (NYSE: BAC) announced Wednesday that it has started implementing the principal forgiveness portion of its National Homeownership Retention Program (NHRP). The initiative offers reduction to a borrowers’ principal if they are considerably underwater on their loan. The plan was officially announced in March, at which time Bank of America said principal reduction [...]
JPMorgan Chase & Co. (NYSE: JPM) CEO Optimistic About Financial Reform
JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon is optimistic that financial reform is headed generally in the right direction, he commented during Japan Society’s Annual Dinner in New York. “We’ll end up with something better than what we had before,” he said, but he noted that he is not expecting a perfect bill. [...]
worst video player ever- after over2:00 there's still no video appearing 