Archive for July, 2010
Citigroup, Inc (NYSE: C) and AIG Hid $11 Million in Loans Through Repurchasing Agreements
Citigroup, Inc (NYSE: C) and AIG (NYSE: AIG) classified more than $11 billion in loans as sales during the second half of 2009, hiding the two companies’ risk levels, according to a report with ABC News citing SEC filings. The announcement came in the form of letters from the Securities and Exchange Commission which were [...]
Ford Motor Co. (NYSE: F) to Play Musical Chairs with European Management
Ford Motor Co. (NYSE: F) will be making a number of changes to its European management team as a result of the purchase of Volvo Cars by Geely, which will be completed in September. A number of executives from Volvo Cars management team will be staying with Ford and will be taking new positions with [...]
Bank of America and Citigroup Shares Fall Sharply on Earnings News (BAC, C)
Shares of Citigroup, Inc (NYSE: C) and Bank of America Corp (NYSE: BAC) fell sharply on Friday after reporting disappointing second quarter earnings results. Bank of America Corp (NYSE: BAC) led the percentage decliners in the DOW 30 closing with a 9.16% loss ending at $13.98 per share. Citigroup, Inc (NYSE: C) fell 6.25% on [...]
How to Get Started investing with Lending Club
Lending Club is the largest peer to peer lending company in the United States in terms of new loan origination on a monthly basis. Many investors have turned to Lending Club as a way to invest without putting money into stocks or bonds. It’s still very much an alternative investment and there is some risk [...]
Microsoft Corp (NASDAQ: MSFT) To Build “Dozens More” Retail Stores
Microsoft Corp (NASDAQ: MSFT) opened four brick-and-mortar stores during the last year and now the Redmond-based software company hopes to build out the initiative by opening a number of new retail locations. Last week, at Microsoft’s Worldwide Partner Conference in Washington, D.C., COO Kevin Turner said Microsoft is going to “build dozens more stores,” but [...]
Financial Reform To Cost Bank of America $50 billion Over 10 Years (NYSE: BAC)
Bank of America Corp (NYSE: BAC) announced tepid earnings results on Friday and warned that the financial reform legislation could cost the bank as much as $4.3 billion annually in lost revenue and a one-time cost of $7 billion to $10 billion resulting in a cost of more than $50 billion over the next ten [...]
Bank Of America (NYSE: BAC), JP Morgan (NYSE: JPM) Target Fees To Offset Revenue Drags From Financial Reform
Several big name financial institutions, such as Bank of America (NYSE: BAC) and JP Morgan (NYSE: JPM) are looking for ways to increase fee income in order to offset expected revenue declines from the financial reform bill. The latest version of the financial reform bill passed on Thursday is expected to pressure revenue in several [...]
Will the Goldman Sachs (NYSE: GS) Settlement Play With the Public?
This much is clear. We haven’t heard the last about Goldman Sachs’ settlement with the SEC. Daily Finance has been all over this story. Their reporting details both the short-term benefits and long-term challenges facing Goldman Sachs (GS) as a result of the settlement over its Abacus synthetic collateralized debt obligation (CDO) transaction. Short-term, they [...]
Audible.com Releases iPod, iPhone and iPad Application
If you enjoy listening to audio books, you probably have some familiar with Audible, a subsidiary of Amazon.com which has a virtual monopoly in the sale of digital audio books. Users have been able to play audible content on iOS devices, such as the iPod, iPhone and iPad for a while, but now Audible.com has [...]
Bank of America Corp. (NYSE: BAC) facing $10 billion hit from financial regulation bill
MarketWatch is reporting that Bank of America Corp. (BAC) is preparing to sustain a multibillion-dollar hit from the impending overhaul of U.S. financial regulations. According to the financial giant, debit-card fee rules could trigger a $10 billion goodwill impairment in third quarter. The bill, which was approved in the House and Senate on Thursday, will [...]
Ford Motor Co. (NYSE: F) Names New European Head
Ford Motor Co. (NYSE: F) has appointed Stephen Odell, former CEO of Volvo, as the new head of Ford’s European business. Current European head John Fleming, who will be succeeded by Odell, will shift focus manage the company’s manufacturing and labor affairs, said the Dearborn, Michigan- based carmaker said in a statement today. The company [...]
Citigroup, Inc (NYSE: C) South Asia Executive Hired by Reliance Industries Ltd
Citigroup, Inc (NYSE: C) South Asia head of markets V. Srikanth, will move to Reliance Industries Ltd as the company’s new deputy chief financial officer, according to a report from Bloomberg BusinessWeek citing anonymous sources. Srikanth, age 44, will be leaving Citigroup, Inc (NYSE: C) after working at the New York-based bank for more than [...]
Lehman Case against JPMorgan Chase & Co. (NYSE: JPM) to Take Place in 2015
Lehman Brothers Holdings Inc’s (PK: LEHMQ) lawsuit against JPMorgan Chase & Co. (NYSE: JPM) of allegedly cutting off billions of dollars and hastening what resulted in a record-setting bankruptcy will likely not go to trial before April 30th, 2012, under a time table approved on Wednesday by U.S. Bankruptcy Judge James Peck in Manhattan. The [...]
Bank of America Corp (NYSE: BAC) Limits Free Checking Accounts to Web-Only Customers
Bank of America Corp (NYSE: BAC) will begin offering free checking accounts to customers which only make use of it web services and ATM machines and don’t make use of branch services. The Charlotte-based bank will be introducing an account on August 6th which won’t charge a monthly fee or minimum balance, unless the customer [...]
JPMorgan Chase & Co. (NYSE: JPM) Earnings Disappoint Investors
JPMorgan Chase & Co. (NYSE: JPM) posted strong earnings on Thursday as a result of improving credit conditions, but the reaction from the market didn’t reflect the positing earnings announcement. The bank posted second-quarter earnings of $4.8 billion, or $1.09 per share, easily surpassing consensus expectations from analysts. The company attributed the earnings citing significantly [...]
worst video player ever- after over2:00 there's still no video appearing 