Archive for August, 2010
Judge Denies Dismissal of JPMorgan Chase & Co. (NYSE: JPM) Suit
A U.S. District Court judge has denied a judge made by two former bankers at JPMorgan Chase & Co. (NYSE: JPM) to dismiss a suit from the Securities and Exchange Commission, which alleged that the bankers participated in a pay-to-play scheme in Alabama which allowed the bank to win almost $5 billion worth of bond [...]
Kuwait Appoints Citigroup, Inc (NYSE: C) to Privatize Kuwait Airways
Kuwait has brought on Citigroup, Inc (NYSE: C), Ernst & Young, and Seabury, an aviation service firm, to handle the privatization of the country’s national carrier, Kuwait Airways. State news agency KUNA quoted a state committee on Wednesday saying that the contracts with Citigroup, Inc (NYSE: C) and the two other companies will be signed [...]
Wells Fargo & Co. (NYSE: WFC) to Hire 250 Workers in Alabama
Wells Fargo & Co. (NYSE: WFC), which owns Wachovia Bank, said that it plans to create 50 new jobs in the state of Alabama more than it had anticipated earlier in the year for a total of 250 new positions. San Francisco-based Wells Fargo has more than 2,000 workers in the city of Birmingham and [...]
New York Attorney General to Investigate General Electric Co. (NYSE: GE)’s CareCredit
General Electric Co. (NYSE: GE)’s CareCredit is being invested by New York Attorney General Andrew Cuomo for allegedly misleading customers on the terms of its healthcare credit cards, reported the Rochester Democrat and Chronicle. Cuomo has issued subpoenas to the division of General Electric Co. (NYSE: GE) Financial Services as part of a predatory lending [...]
Delphi Financial Group, Inc. (NYSE: DFG) to Redeem $50 Million in Senior Notes
Delphi Financial Group, Inc. (NYSE: DFG) announced on Monday that it would offer to redeem $50 million worth of aggregate principal of 8.00% of its senior notes which are due in 2033 on September 21st, 2010. Here’s the press release: Delphi Financial Group, Inc. (NYSE: DFG) announced today that it will redeem $50 million in [...]
Exxon Mobil (NYSE: XOM) Declares Quarterly Dividend
Exxon Mobil Corp’s (NYSE: XOM) Board of Directors declared a cash dividend of $0.44 per share of common stock payable on September 10th, 2010 to shareholders of record on August 13th, 2010. Here’s the press release: The Board of Directors of Exxon Mobil Corporation (NYSE:XOM) today declared a cash dividend of 44 cents per share [...]
JPMorgan Chase & Co. (NYSE: JPM) to Hire 200 Employees, Open 22 CA Branches
JPMorgan Chase & Co. (NYSE: JPM) announced last week that it would be hiring 200 new employees for 22 new full-service bank branches that it would be opening inside of Albertsons stores inside of Southern and Central California later in the year. Here’s the press release: Chase announced today it will open new full-service bank [...]
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 opportunities. Here’s the press release: NACCO Materials Handling Group, Inc. (NMHG), the Cleveland-based subsidiary of NACCO Industries, Inc., is rolling [...]
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 the press release: Bank of America announced today that Bridget O’Connor has been named chief technology [...]
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 Curtis as Market Intelligence Manager for Depositary Receipts Services Citigroup today announced that its Global Transaction Services business [...]
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 Henry Ford, will receive $4 million in salary and $11 million to $12 million in stock [...]
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 mortgage repurchase requests form investors and insurers totaled about $11 billion on June 30th in a filing on Friday with [...]
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, formerly known as British Petroleum, is currently the largest European oil company in [...]
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 and charges. The publication noted that investors have become much less bullish about the largest bank [...]
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 Bloomberg. The trio of cell-phone providers may work with Discover Financial Services (NYSE: DFS) and Barclay’s PLC to trial [...]
worst video player ever- after over2:00 there's still no video appearing 