Home » Archive for July, 2010
Microsoft Corp CEO Touts New Windows-Based Apple iPad Competitors (AAPL, MSFT)
Microsoft (NASDAQ: MSFT) CEO Steve Ballmer touted new Windows tablet devices from more than a dozen manufacturers at a conference on Monday, suggesting that the Redmond-based software giant is eager to counteract the growth of Apple’s... More of this article »
Citigroup, Inc (NYSE: C) Says National Grid to Sell U.S. Operations
Citigroup, Inc (NYSE: C) said that National Grid PLC, the owner of Britain’s natural-gas and power networks, may sell its U.S. operations in order to keep capital spending at current levels without having to issue new equities. Citigroup,... More of this article »
NTP Sues Microsoft, Google, Apple and Others Over Mobile Phone Patents
NTP said on Thursday that it had filed patent infringement lawsuits against several of the world’s top mobile phone manufactures including Apple (NASDAQ: AAPL), Google (NASDAQ: GOOG), Microsoft (NASDAQ: MSFT), Motorola (NYSE: MOT),... More of this article »
Citigroup, Inc (NYSE: C) Stock Closes Above $4.00 Mark
Citigroup, Inc (NYSE: C)’s stock closed above $4.00 on Friday, a critical resistance point for the stock, as the company’s second quarter earnings report date nears. The New York-based bank’s stock closed at $4.04 at the end... More of this article »
JPMorgan Chase & Co. (NYSE: JPM) to Sue Former Adviser Which Defected to Morgan Stanley (NYSE: MS)
JPMorgan Chase & Co. (NYSE: JPM) has filed suit against a former financial adviser who left to work for Morgan Stanley (NYSE: MS) Smith Barney. The adviser, Michael Lupia, has already transferred more than $30 million worth of... More of this article »
Ford Motor Co. (NYSE: F) and Chrysler (BIT: F) to Recall 52,000 Vehicles
Ford Motor Co. (NYSE: F) and Chrysler (BIT: F) are recalling a combined 52,000 vehicles to fix various issues which could result in damage to vehicles. The federal government said that Chrysler will recall about 22,000 sport utility... More of this article »
Bank of America Corp (NYSE: BAC) Largest Private Bank in 2009, Study Says
Bank of America Corp (NYSE: BAC) kept is position as the world’s largest private bank in 2009, fending off UBS AG (NYSE: UBS) based out of Switzerland, however, drops in profitability of the private banking industry and lower fresh... More of this article »
Citigroup, Inc (NYSE: C) Wins 13 Awards from “Euromoney Awards for Excellence”
Citigroup, Inc (NYSE: C) announced that it had received 13 major regional and product awards during the “Euromoney Awards for Excellence” including an award for Banker of the Year to Citigroup CEO Vikram Pandit. “I am deeply... More of this article »
Wells Fargo & Co. (NYSE: WFC) To Cut Free Checking Option to New Customers
Wells Fargo & Co. (NYSE: WFC) will no longer be offering free checking accounts to all new customres that open accounts at the bank, said the bank in a statement on Friday. The San Francisco-based bank, one of the largest retail... More of this article »
Ford Motor Co. (NYSE: F) To Give Consumers “Distraction Free” Mode While Driving
Ford Motor Co. (NYSE: F) will give its customers the ability to turn off features of its “Sync” communication system in the form of a “do not disturb” status which will turn off capabilities “that are not relevant to... More of this article »
Citigroup, Inc (NYSE: C) Hires Australian Goldman Sachs Group Inc. (NYSE: GS) Executive
Citigroup, Inc (NYSE: C) has hired Tony Osmond away from Goldman Sachs Group Inc. (NYSE: GS) to serve as the company’s new head of Australia and New Zealand investment banking business as part of an effort to boost its fees from... More of this article »
Bank of America Corp (NYSE: BAC) Acknowledges Using Lehman Brothers-Style Accounting Tactics to Hide Assets
Bank of America Corp (NYSE: BAC) admitted that it had wrongly classified as much as $10.7 billion worth of short-term repurchase and lending transactions between 2007 and 2009 which reduced its end-of-quarter assets, according to a... More of this article »
BB&T (NYSE: BBT), PNC Financial Services (NYSE: PNC), and U.S. Bancorp (NYSE: USB) Show the Opportunity and Challenge of Acquiring Troubled Banks
Fortune Magazine’s recent Street Sweep column profiled three “super regional” banks: BB&T (BBT), PNC Financial Services Group (PNC) and U.S. Bancorp (USB) who represent hope and challenge for the U.S. banking system. The... More of this article »
Citigroup, Inc (NYSE: C) to Establish Shariah-compliant Microfinance Banks in Pakistan
Citigroup, Inc (NYSE: C) will push the idea of creating Shariah-compliant microfinance banks for the needs of millions of Muslims, who have previously been excluded from micro-finance because of Islam’s prohibition on paying interest,... More of this article »
Wells Fargo & Co. (NYSE: WFC) to Close 638 Wells Fargo Financial Stores
Wells Fargo & Co. (NYSE: WFC) has announced that it will close 638 of its “Wells Fargo Financial” stores and lay-off 3,800 employees during the next 12 months. The San Francisco-based bank is undergoing a large-restructuring... More of this article »
Bank of America Corp (NYSE: BAC) Announces New Global Liquidity Platform
Bank of America Corp (NYSE: BAC)’s Merrill Lynch division has announced the creation of its new Global Liquidity Platform, which is designed to improve the delivery of its global liquidity product offering. The company said in a... More of this article »
Royal Bank of Scotland (LON: RBS) Gears Up to Sell Property Portfolio
Royal Bank of Scotland (LON: RBS) is preparing to sell a property portfolio of more than 3 Billion GDP to determine whether or not the market is hungry for assets which have been considered toxic to investors since the financial crisis. If... More of this article »
1330 – Citigroup, Inc (NYSE: C) Announces Successor Depository for Ahold ADR Program
Citigroup, Inc (NYSE: C)’s Global Transaction Services has been appointed by Ahold, a company wased out of Netherlands, as the successor company for the successor depository bank for its sponsored Level 1 American Depositary Receipt... More of this article »
Bank of America Corp (NYSE: BAC) Hires New Latin American Executive
Bank of America Corp (NYSE: BAC) CEO has hired former Credit Suisse Group AG executive Mark Rosen to serve as a new executive in Latin America. Rosen will serve as the head of the Charlotte-based bank’s corporate and investment banking... More of this article »
Citigroup, Inc (NYSE: C) Hires New CEO for Citibank Canada
Citigroup, Inc (NYSE: C) announced on Tuesday that John Hastings would be the new country officer for Canada as well as Chairman and CEO for Citibank Canada. Hastings most recently served as managing director and head of Citigroup,... More of this article »
Is Bank of America Corp (NYSE: BAC)’s Stock Finally Cheap?
Bank of America Corp (NYSE: BAC)’s stock price may have finally become “cheap” according to Nancy Bush of NAB Research, who recently described the stock as inexpensive compared to its peers in a research note dated Tuesday. “This... More of this article »
Habib Bank Seeks to Purchase Citibank (NYSE: C) Pakistan’s Credit Card Portfolio
Citigroup, Inc (NYSE: C) may have a purchaser for its credit card portfolio in Citibank Pakistan, according to a report from The News. Habib Bank has expressed interest in purchasing the credit card portfolio of Citibank Pakistan,... More of this article »
Bank of America Corp (NYSE: BAC) Appoints New EMEA Chief Risk OfficerBank of America Corp (NYSE: BAC) Appoints New EMEA Chief Risk Officer
Bank of America Corp (NYSE: BAC)’s Merrill Lynch division announced the appointment of David Oman as the company’s new Chief Risk Officer (CRO) for Europe, the Middle East and Africa (EMEA) beginning in October. Oman will be based... More of this article »