Archive for August, 2010
Ford and Portland G.E. to Partner on Electric Vehicles (NYSE: F) (NYSE: GE)
Ford Motor Co. (NYSE: F) and Portland General Electric Co. (NYSE: GE) are entering into a partnership in which the two companies will share information about vehicle charging needs as both companies prepare to produce higher numbers of electric cars in the years ahead. Dearborn, MI-based Ford announced on Tuesday that it plans to bring [...]
Citigroup, Inc (NYSE: C) Has No Plans to Raise Capital in China
Citigroup, Inc (NYSE: C) said on Wednesday that the company has no plans to raise capital by seeking a listing on the to-be-launched international board in Shanghai because the company believes it can finance expansion in China without new capital. The New York-based ban currently has 29 branches in China and plans to add an [...]
Bank of America Corp (NYSE: BAC) Hits 52 Week Low
Bank of America Corp (NYSE: BAC)’s common stock traded at a new 52 week low during trading on Tuesday, hitting as low as $12.59 during mid-day trading. According to data from the New York Stock Exchange, 150.7 million shares were traded yesterday, up slightly from its 30-day moving average of volume of 147.5 million shares. [...]
Former Citi Executive to Become Chairman of Marks and Spencer (NYSE: C)
Former Citigroup, Inc (NYSE: C) executive Robert Swannell will become the next chairman of British-retailer Marks and Spencer, announced the company on Monday. The company said on Monday that Swannell will succeed Sir Stuart Rose as chairman, who recently gave up his role as chief executive of the merchant, which sells food and clothing. Swannell, [...]
General Electric Co. (NYSE: GE) Spent $8.3 Million on Q2 Lobbying
General Electric Co. (NYSE: GE) spent a total of $8.3 million lobbying the federal government during the second quarter, working on a wide range of issues including clean energy legislation and financial reform legislation. The conglomerate company spent more than the $7.2 million that it spent during the second quarter of 2009, as a number [...]
Wells Fargo & Co. (NYSE: WFC) Opposes Fair-Value Measures
Wells Fargo & Co. (NYSE: WFC) said that it disagrees with a regulatory proposal which would require banks to report the fair value loans of their books under a new mark-to-market style rule. “We strongly oppose the expansion of fair value as the primary balance-sheet measurement attribute for virtually all financial instruments,” said Wells Fargo [...]
JPMorgan Chase & Co. (NYSE: JPM) Cuts Growth Forecast for China
JPMorgan Chase & Co. (NYSE: JPM) analysts cut their forecasts for China’s growth in 2010 and 2011 citing a near-term loss of momentum in the global economic recovery. The analysts at JPMorgan Chase & Co. (NYSE: JPM) now predict that China’s gross domestic product will expand by 9.8% this year, down by 0.2% from its [...]
Bank of America Corp (NYSE: BAC) CEO Purchases $391,000 Stake in Company
Bank of America Corp (NYSE: BAC) CEO Bryan Moynihan has purchased $390,000 worth of BofA stock in the form of 30,000 shares of common stock on August, 23rd, 2010. According to a regulatory filing with the U.S. Securities and Exchange Commission, Bank of America’s chief executive purchased 7,200 shares at $13.0295 each, 10,000 shares at [...]
Macy’s (NYSE: M) to Offer Citibank (NYSE: C) American Express (NYSE: AXP) Credit Card
Macy’s (NYSE: M) has entered into an agreement with American Express Co. (NYSE: AXP) on a new credit card, which will be issued by Citibank (NYSE :C), the retailer announced Thursday. The new Macy’s American Express card will replace certain Macy’s Visa cards. According to a statement from Macy’s, cardholders will receive benefits in its [...]
Bank of America (NYSE: BAC) and Visa (NYSE: V) to Compete with Phone Carriers on Mobile Payments
Bank of America Corp (NYSE: BAC) and Visa (NYSE: V) have announced that they’ve teamed up to test a mobile payment system, just weeks after rumors began circulating that a number of cell phone carriers would test a competing system by partnering with Discover Financial Services (NYSE: DFS) According to a report from Reuters, Bank [...]
Morgan Stanley (NYSE: MS) Hires Three Brokers from UBS (NYSE: UBS)
Morgan Stanley (NYSE: MS) Smith Barney has hired three veteran New Jersey Brokers from UBS (NYSE: UBS), adding a team which generated $3.3 million in annual revenue by helping clients manage $350 million worth of assets. The Martin Rizzo Group, which is comprised of Art Martin, his son Wade Martin and John Rizzo joined Morgan [...]
Ford Motor Co. (NYSE: F) Chairman Predicts Company Will Lose Investors to General Motors IPO
Ford Motor Co. (NYSE: F) Chairman Bill Ford Jr. recently said that he believes his company may lose some of its investors to General Motors’ initial public offering, because investors may find a better deal with GM shares than keeping their shares in Ford. Ford noted that he does not want to give too much [...]
Former Citigroup (NYSE: C) and Goldman Sachs (NYSE: GS) Bankers Raise $150 Million Round
Former Citigroup, Inc (NYSE: C) and Goldman Sachs Group Inc. (NYSE: GS) bankers, operating under the company Kendall Court Partners Ltd, have raised $150 million to create a mezzanine fund to meet rising demand for hybrid debt and equity financing in Southeast Asia. The firm, based out of Singapore, manages about $400 million and is [...]
Get One Free Audiobook from Audible.com’s “Audible.com/Summer” Deal.
If you want to get started on your summer reading, you can get a free audiobook from Audible.com with Audible.com’s “Audible.com/Summer” deal in which listeners can get one free audiobook and 14 days’ worth of free service from Audible.com Audible has a number of great titles for you to consider to listening this summer or [...]
Goldman Sachs (NYSE: GS) Sues Natixis (FR: KN) Over Derivatives Deal
Goldman Sachs Group Inc. (NYSE: GS) has filed suit against French bank Natixis (FR: KN) in the United Kingdom over a credit derivatives deal between the two companies. According to a report from the Financial Times on Thursday, citing court documents, the dispute between the two companies related to the question as to whether or [...]
worst video player ever- after over2:00 there's still no video appearing 