Archive for August, 2010
Wells Fargo & Co. (NYSE: WFC) Hires Municipal Bond Strategist
Wells Fargo & Co. (NYSE: WFC) has appointed Natalie Cohen to the company’s research and economics department of its securities unit as a managing director and senior municipal-bond analyst. Cohen, who will be based in New York, started a consulting firm named National Municipal Research Inc. She also holds a master of public administration degree [...]
Geely Completes Purchase of Volvo from Ford Motor Co. (NYSE: F)
Zhejiang Geely Holding Group Co. has completed the purchase of Volvo Cars from Ford Motor Co. (NYSE: F) on Monday in the largest acquisition of an automaker by a Chinese company. Ford received $1.3 billion in cash and a $200 million loan note for the acquisition from Geely and may make additional payments to Ford [...]
Citigroup, Inc (NYSE: C) Hires Corporate Fair Lending Director
Citigroup, Inc (NYSE: C) has hired Irene Fang as the company’s new Corporate Fair Lending Director for all of the firm’s U.S. based businesses. Dr. Irene Fang will be responsible for managing Citigroup, Inc (NYSE: C)’s Fair Lending Program to ensure “consistency across businesses with regard to fair lending policies and practices,” according to a [...]
Research in Motion May Unveil Blackberry OS 6 on AT&T Today (NYSE: T) (NASDAQ: RIMM)
Research in Motion (NASDAQ: RIMM) sent out an announcement for an even today (August 3rd) over the weekend in which the company announced that it will introduce a new product, which many presume to be a phone running BlackBerry OS 6 on AT&T (NYSE: T). The announcement has logos for both AT&T and BlackBerry, with [...]
Procter & Gamble Co. (NYSE:PG) Set to Release Q4 Earnings
Procter & Gamble Co. (NYSE:PG), the world’s largest consumer products manufacturer, will report its fourth quarter earnings on Tuesday. Results for the company has improved during the first two quarters of Procter & Gamble’s fiscal year and investors in the stock hope that the trend will have continued during the company’s third fiscal quarter which [...]
Wells Fargo CEO Sells $3 Million in Company Stock (NYSE: WFC)
Wells Fargo & Co. (NYSE: WFC) CEO John G. Stumpf sold $3 million worth of company stock on July 22nd, adding to pessimism brought forth to the stock by worried investors who are concerned about how new financial regulations will dampen the company’s revenue forecasts. Mr. Stumpf sold 110,550 shares of Wells Fargo & Co. [...]
Daiwa Capital Markets Hires Away Deutsche Bank (NYSE: DB) and Morgan Stanley (NYSE: MS) Executives
Daiwa Capital Markets announced that it has hired Dick Lo, formerly of Deutsche Bank AG (NYSE: DB), and Julien Petit-Pasquier from Morgan Stanley (NYSE: MOR) to work in the firm’s Asian equity derivatives business. Mr. Lo will join the investment banking unit of Japan’s second- largest brokerage as the firm’s new head of stock derivatives [...]
Bank of America’s (NYSE: BAC) Plan For $100 Million in New Small Business Lending
Bank of America Corp (NYSE: BAC) announced on Thursday that it would be providing $10 million worth of loan loss reserve grants to boost small business lending with a goal of creating $100 million in new low-cost, long term-capital for small businesses over the next 12 months. The Charlotte-based bank will be providing $10 million [...]
American International Group Selects Citigroup for AIA Initial Public Offering (AIG, C)
American International Group (NYSE: AIG) has selected financial services giant Citigroup, Inc (NYSE: C) as one of the global coordinators for an initial public offering of its Asian life insurance subdivision, AIA, according to a report from the Wall Street Journal. “AIG has added Citigroup to the list of global coordinators for the listing of [...]
Citigroup (NYSE: C) Hires Former Goldman Sachs (NYSE: GS) Forex Trader
Citigroup, Inc (NYSE: C) has hired a former Goldman Sachs Group Inc. (NYSE: GS) executive as the company’s new head of foreign exchange trading in Japan, according to an internal memo which was acquired by Dow Jones Newswires and reported by the Wall Street Journal. The memo said that Jo Narita has joined Citigroup, Inc [...]
Wal-Mart to Sell AT&T Prepaid Phones at Retail Stores (WMT, T)
Wal-Mart Stores Inc. (NYSE: WMT) hopes to expand its Straight Talk prepaid wireless service to include phones which will operate on AT&T’s (NYSE: T) GSM wireless network. The discount retailer’s “Straight Talk” service was previously only available on phones on Verizon Wireless’s (NYSE: VZW) CDMA wireless network. Straight Talk is operated by TracFone Wireless, a [...]
Ford Motor Co. (NYSE: F) Sees Decline in 19 European markets
Ford Motor Co. (NYSE: F) saw a 17% sales decline in 19 of its core European markets during the month of June, selling 118,000 vehicles as demand lowered after several countries ended their scrapping incentive plans. “The market is weakening as a result of the ending of scrappage schemes and the continuing frailty of the [...]
Microsoft CEO Comments on Bing Challenges (NASDAQ: MSFT) and Google (NASDAQ: GOOG) Competition
Microsoft (NASDAQ: MSFT) CEO Steve Ballmer commented on the challenges that its Bing search engine product faces in the search engine market and commented about the strong competition that it has from Google (NASDAQ: GOOG) in a meeting with analysts last week. Ballmer acknowledged that Bing lags behind Google in search engine market share but [...]
General Electric Still Using Third Party Agents to Interact with Foreign Governments After Bribery Settlement (NYSE: GE)
General Electric Co. (NYSE: GE) said on Wednesday that it is still making “limited” use of third-party agents to interact with foreign governments after settling allegations with U.S. regulators which alleged that some of G.E.’s partner intermediaries had bribed Iraqi officials under the “oil for food” program earlier in the decade. A G.E. spokeswoman told [...]
FTC Clamps Down on Debt Settlement Companies
The Federal Trade Commission has come down on debt settlement companies in a ruling which will prevent firms from charging customers an up-front fee for their services. The ruling also requires debt settlement companies to tell how long the debt settlement will take, what the total cost will be and what potential negative effects come [...]
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