Home » Archive for August, 2010
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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... More of this article »
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.... More of this article »
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... More of this article »