Home » Archive for August, 2010
General Electric (NYSE: GE) Develops Customized Digital Sales Tools
General Electric (NYSE: GE) announced on Monday that it has developed customized digital sales tools for NACCO Materials Holding Group. The new sales tools are designed to help customers solve business challenges and capitalize on... More of this article »
Bank of America (NYSE: BAC) Hires CTO for Consumer and Small Business Banking
Bank of America Corp (NYSE: BAC) announced last week that it has named Bridget O’Connor as the company’s new chief technology officer (CTO) for both consumer banking and small business banking, as well as home loans and insurance. Here’s... More of this article »
Citigroup (NYSE: C) Hires Market Intelligence Manager
Citigroup (NYSE: C) announced last week that it has hired Glenn Curtis as a new market intelligence manager for its Depository Receipts Service in a press release issued last week. Here’s the press release: Citi Appoints Glenn... More of this article »
Ford Motor Co. (NYSE: F) to Pay Chairman Bill Ford for First Time in 5 Years
Ford Motor Co. (NYSE: F) said that it will pay Executive Chairman William Clay Ford Junior for the first time in five years as the company has finally returned to profitability consistently. Ford, the great grandson of company founder... More of this article »
Bank of America Corp (NYSE: BAC) Has $11.1 Billion in Mortgage Purchase Requests
Bank of America Corp (NYSE: BAC) said that it has been working with a limited number of requests to repurchase soured mortgages out of securities which lacked government-backed guarantees. The Charlotte-based bank said that unresolved... More of this article »
Citigroup, Inc (NYSE: C) May Manage BP Compensation Fund (NYSE: BP)
Citigroup, Inc (NYSE: C), the third largest bank in the United States by assets, may be the firm which manages’ BP (NYSE: BP)’s $20 billion Gulf of Mexico oil spill compensation fund along with a second, smaller bank in the South. BP,... More of this article »
Bernstein and Barron’s Agree: Bank of America Poised for Gains
Barron’s business weekly said on Sunday that Bank of America Corp (NYSE: BAC)’s stock has a strong potential upside after declining in value since the recent peak in April, citing the company’s plans to end its reliance on fees... More of this article »
AT&T, T-Mobile and Verizon Hope to Displace Credit Card Companies with Smartphone-based Mobile Payments
AT&T (NYSE: T), T-Mobile USA, Verizon Wireless (NYSE: VZQ) are planning a venture to compete with Visa (NYSE: V) and MasterCard (NYSE: MA)’s credit card business by developing a mobile payment system based on smartphones, reported... More of this article »
Wells Fargo & Co. (NYSE: WFC) Completes Wachovia Brand Integration in Kansas
Wells Fargo & Co. (NYSE: WFC) has completed the merger of its Wells Fargo and Wachovia brands in Kansas on Monday. Wachovia Corp was acquired by Wells Fargo & Co. (NYSE: WFC) on December 31st, 2008. Since the acquisition, Wells... More of this article »
Morgan Stanley European Wealth Management Exec Leaves Company (NYSE: MS)
Morgan Stanley (NYSE: MS)’s wealth management operations head in Europe, Middle East and Africa, Alexander Clasen, has left the company after four years of service. The New York-based bank has not named a replacement for Clasen,... More of this article »
Citigroup, Inc (NYSE: C) Hires Electronic Execution Executive in Asia
Citigroup, Inc (NYSE: C) announced on Tuesday that it has hired Ian Smith as the company’s new head of Citi’s electronic execution product for the Asia-Pacific region. Smith, who will be based in Hong Kong in his new position,... More of this article »
Microsoft Corp (NASDAQ: MSFT) Announces Office 2011 for Mac
Microsoft Corp (NASDAQ: MSFT) announced that the next version of Office for Apple’s (NASDAQ: AAPL) MacOS, Microsoft Office 2011, would be available by the end of October with pricing which is more in line with current Windows versions. The... More of this article »
Morgan Stanley (NYSE: MS) Boosts Estimates on Clearwire (NASDAQ: CLWR)
Morgan Stanley (NYSE: MS) boosted its estimates on shares of Clearwire (NASDAQ: CLWR) through 2011. The firm cited that Clearwire continues to create subscriber growth with an “underweight” rating. Clearwire Corporation (Clearwire)... More of this article »
Bank of America Corp (NYSE: BAC) Finalizes Settlement with Countrywide Investors
The $624 million settlement between Bank of America Corp (NYSE: BAC) and investors in Countrywide Financial Corp, including New York’s pension fund, has won an initial court approval. Los Angeles-based federal district judge Mariana... More of this article »
Free Checking Widely Available Despite Major Bank’s Offering Cut Backs
Bank of America Corp (NYSE: BAC) and other large-cap banks have cut back on their free checking offerings as a result of new financial regulations, however, MoneyRates.com 2010 semi-annual Bank Fee Survey reported that free checking... More of this article »
UBS AG Hires Away Executives from Goldman Sachs (NYSE: GS) and Bank of America (NYSE: BAC)
UBS AG announced on Sunday that it will hire executives from Goldman Sachs Group Inc. (NYSE: GS) and Bank of America Corp (NYSE: BAC) to build out its mortgage and lending business in the United States. The firm will hire Jonathan... More of this article »
Citigroup, Inc (NYSE: C) Provides Grants to South Dakota Native American Tribes
Citigroup, Inc (NYSE: C) provides a number of grants to non-profit partners that assist in economic development in Native American cultures, including those on South Dakota’s Pine Ridge Indian Reservation and Crow Creek Sioux Reservation. The... More of this article »
U.K. Treasury Chief Tells Lloyds, RBS and Others to Start Lending (LLOY, RBS)
U.K. Treasury Chief George Osborne said that banks like Lloyds Banking Group PLC (LON: LLOY), the Royal Bank of Scotland (LON: RBS) and others must increase lending to businesses rather than boosting bonuses and dividends now that... More of this article »
Major Corporations Making Use of Compiled Facebook Public Data (AAPL, INTC, CSCO)
Last week, a security researcher indexed and compiled public personal profile information of more than 170 million Facebook users and placed the results on Bit-Torrent for the world to download and major corporations, including Cisco... More of this article »
New York Banking Regulators Tout New Mortgage Licensing Standards
The New York State Banking Department announced on Monday that 1,800 mortgage loan origination firms have met new licensing mandates from New York State as well as the federal Secure and Fair Enforcement for Mortgage Licensing (SAFE)... More of this article »
Goldman Sachs (NYSE: GS) Defends Mortgage Derivative Pricing Before Rescue of AIG
Goldman Sachs Group Inc. (NYSE: GS) defended how it set prices for illiquid mortgage derivatives before the rescue of American International Group (NYSE: AIG) before the Financial Crisis Inquiry Commission on Monday. The data provided... More of this article »
Hostile Bid in the Works for Genzyme Corp (NASDAQ: GENZ), Citigroup, Inc (NYSE: C) Says
Citigroup, Inc (NYSE: C) analysts said in a research note that Sanofi-Aventis SA may begin a hostile bid for Genzyme Corp (NASDAQ: GENZ) if the U.S.-based biotechnology company resists a push for a take-over. Citigroup analysts Mark... More of this article »
Bank of America Corp (NYSE: BAC) to Provide $10 Million in Grants to Non-Profit Lenders
Bank of America Corp (NYSE: BAC) announced that it will provide $10 million in grants to non-profit lenders such as Community Development Financial Institutions to help leverage funds from the Small Business Administration and the... More of this article »