Archive for August, 2010
Ford (NYSE: F) to Complete Sale of Volvo to Geely This Week
Zhejiang Geely Holding Group Co.’s request for regulatory approval to purchase Ford Motor Co. (NYSE: F)’s Volvo unit was approved by China’s Ministry of Commerce, a move which will allow the $1.8 billion acquisition to be completed next week. Geely agreed to purchase Volvo from Ford Motor Co on March 28th marking the largest overseas [...]
China Investment Corp Continues Divestment of Morgan Stanley (NYSE: MS) Stock
China Investment Corp unloaded another $125 million shares of Morgan Stanley (NYSE: MS), according to a filing with the U.S. Securities and Exchange Commission which has been widely reported by the press. The stock sale was made in two separate transactions following a $138.5 million sale of 5.1 million shares last week. China Investment Corp [...]
Wells Fargo (NYSE: WFC) to Eliminate Penalty Credit Card Interest Rates for Late Payers
Wells Fargo & Co. (NYSE: WFC) announced that it will be eliminating penalty interest rates on credit cards which are imposed when customers are 60 days or more late on their payments, the Associated Press reports. The San Francisco-based bank, who will be notifying customers of the change in their August statements, previously imposed a [...]
Citigroup, Inc (NYSE: C) Responds to $75 Million SEC Settlement
Citigroup, Inc (NYSE: C) entered into a $75 million settlement agreement with the Securities and Exchange Commission on Thursday in relation to a case which accused Citigroup of failing to disclose risk to the sub-prime mortgage market to investors and now Citigroup spokeswoman Shannon Bell has issued a statement responding to the settlement. Bell commented [...]
FDIC Securitizes $471.3 Million Worth of Mortgages from 16 Failed Bank
The Federal Deposit Insurance Corporation (FDIC) has sold a $471.3 million securitization using residential mortgages from 16 failed banks. The Wall Street Journal first reported the sale, writing “The Federal Deposit Insurance Corp. said Friday it sold securities backed by $471.3 million of performing single-family mortgages originated by 16 failed banks. “ Housing Wire was [...]
Mortgage Rates Fall to New Record Lows
Mortgage rates in the United States fell again during the last week, with the average rate on 15-year and 30-year fixed mortgages beating their recently set record lows, according to data from Freddie Mac’s weekly survey of mortgage rates. Interest rates on mortgages have remained at or near record lows as the market for Treasury [...]
Apple Attempts to Patent Mobile Hotel Booking, Shopping and Travel Apps (NASDAQ: AAPL)
Apple Inc (NASDAQ: AAPL) appears to be gunning for software patents on a few types of mobile application, including shopping and travel related applications. Unwired View first uncovered the three patent applications relating to the app types which Apple is trying to patent. The patent application details a hotel services application, a travel booking application [...]
worst video player ever- after over2:00 there's still no video appearing 