Archive for June, 2010
Banco Santander to Purchase Citigroup (NYSE: C) Loan Portfolio
Banco Santander (STD) has agreed to purchase Citigroup, Inc (NYSE: C)’s loan portfolio in a deal announced on Thursday, in which the Spanish bank will purchase a $3.2 billion automobile-loan portfolio from Citigroup, Inc (NYSE: C) and service another portfolio for $7.2 billion. Santander, one of the largest banks in Spain, said that it would [...]
How to Get Peer to Peer Loan to Pay for College
As the availability of credit tightens, many banks are limiting or eliminating the private student loans that they offer, making it difficult for students that have exhausted their financial aid to receive gap funding for their education. Fortunately, a number of peer to peer lending websites have filled in the gap and are providing a [...]
Vittana Streamlines Microfinance Service
Vittana, a non-profit micro-finance lending service which provides education funding, is now enabling lenders to re-lend directly. Lenders on the service now no longer need to go through PayPal directly for each payment and re-payment. CEO Kushal Chakrabarti said no June 12th, “Today, I have the honor of announcing that, as of last week, Vittana [...]
Goldman Sachs (NYSE: C), Citigroup (NYSE: C), and JPMorgan (NYSE: JPM) Rise on news of Financial Reform
Stocks rose Friday after news came down that Congress has passed a key hurdle in financial regulatory reform. A committee has reconciled the House and Senate proposals, and the legislation is now headed to President Obama’s desk. It is expected this bill will be signed into law in the coming weeks. In the past few [...]
Trading Revenues Rise on Wall Street
The Office of the Comptroller of the Currency (OCC) said on Friday that Trading Revenues at U.S. commercial banks soared 328 percent in the first quarter, compared to the fourth quarter of 2009. Improving credit markets is cited as a major reason, allowing the banks to benefit and participate in the rebounding markets. Revenues from [...]
How to Get a Personal Loan
Personal loans are a necessary evil sometimes. They provide needed funds to cover an unexpected expense, provide the ability to consolidate debt and help you make major purchases. If used improperly they can put you into a world of hurt. If you have a decent credit score, you have a number of options to take [...]
Discover Financial (NYSE: DFS) Swings Q2 Profit On Increased Volumes
Discover Financial Service (NYSE: DFS) announced Thursday that it returned to profitability in second quarter as volumes increased with customers using their card more often. A continued decline in delinquent accounts also helped drive results. The credit card company said it had net income of $184.6 million, or 33 cents per share. That compares with [...]
G.E. Financial Services to Fund $180 Million of Mexican Power Plant (NYSE: GE)
General Electric (NYSE: GE) Financial services, along with Spain-based Abengoa (MCE: ABG.MC) announced on Wednesday that they would invest $180 million to help develop the largest co-generation power plant in the country of Mexico According to the press release released by the company, “The 300-megawatt gas-fired facility with a total project cost of US$640 million [...]
OneWest Bank CEO Leaves Company to join Bank of America Corp (NYSE: BAC)
OneWest Bank CEO Terry Laughlin is leaving the California-based lender to join Bank of America Corp (NYSE: BAC), a Bank of America official confirmed Tuesday. Laughlin told OneWest about his plans to leave the company on Tuesday. Laughlin will stay on with OneWest during a transitory period. OneWest, which grew out IndyMac, a failed California [...]
Citigroup, Inc (NYSE: C) Says that Global Equities have Peaked
Citigroup, Inc (NYSE: C) Private Bank Global Chief Investment Officer Richard Cook said that global equities are set to fall as countries around the world end their stimulus measures which will result in a slowdown of economic growth. “It’s highly likely that markets have already peaked,” commented London-based Cookson, whose company has more than $220 [...]
Wells Fargo & Co. (NYSE: WFC) Poaches Advisors from JPMorgan Chase & Co. (NYSE: JPM) and RBC Wealth Management
Wells Fargo & Co. (NYSE: WFC)’s “Wells Fargo Advisors” unit has added three new advisors, two from RBC Wealth Management and one from JPMorgan Chase & Co. (NYSE: JPM), which have a combined total of client assets of more than $700 million. Mr. Raymond Hayes has joined the company’s bank brokerage division in New York, [...]
Sprint Receives Higher Customer Service Ratings (NYSE: S) from ACSI
Sprint Nextel Corp (NYSE: S) has significantly improved their customer service rating on the American Customer Satisfaction Index this year. During the last several years, Sprint customers were relatively dissatisfied with their service compared to what the company’s competitor’s customers rated their wireless providers. The American Customer Satisfaction Index measures customer expectations, complaints, loyalty, perceived [...]
App Store is Still Not a Major Profit Center for Apple (NASDAQ: AAPL)
More than four billion free applications have been downloaded from Apple’s (NASDAQ: AAPL) App Store and paid for applications sell for an average price of $1.49, according to data from an analyst at Piper Jaffray. Analyst Gene Munster released new statistics and facts related to Apple’s App Store in a research note on Wednesday. He [...]
Ford Motor Co. (NYSE: F) CEO for Europe Predicts Weak Second Quarter Sales
Ford Motor Co. (NYSE: F) President and CEO for its European unit, John Fleming, said on Wednesday that the auto market had weakened during the second quarter after relatively strong demand during the first quarter because of continued scrapping schemes. He added that a higher-portion of fleet sales also caused a profitability drag for automakers [...]
Get a Free Audio Book from Audible.com’s TV Offer (Audible.com/TVOffer)
Audible.com, a service which offers audio books via digital downloads to consumers to be played on iPods, laptops and other digital devices, has recently began a television campaign in which viewers can receive a free audio book and thirty days of free service with the following url: audible.com/tvoffer. Users that take Audible.com up on the [...]
worst video player ever- after over2:00 there's still no video appearing 