Archive for September, 2010
InvestInMyEducation.com Joins Peer to Peer Lending Market
InvestInMyEducation.com has joined the ranks of Lending Club, Prosper.com, People Capital and Green Note in the business of offering student loans via a peer to peer lending market. The company said in a statement that, “InvestInMyEducation.com founder, James Worboys, discovered that many college students have difficulty filling the gap between their family contributions, grants and [...]
Ford May Reduce Product Line-Up to 20 Models (NYSE: F)
Ford Motor Co. (NYSE: F) CEO Alan Mulally said on Monday that his company may reduce its line-up to as few as 20 models. When being asked about the Dearborn, MI-based company’s future line-up of models while addressing the Confederation of British Industry in London Monday, he said, “There will be less than 30, on [...]
Richard Bove Comments on Mike Mayo and Citigroup, Inc (NYSE: C) Dispute
Rochdale Securities analyst Richard Bove commented on the ongoing disagreement between analyst Mike Mayo and executives at Citigroup, Inc (NYSE: C) in an interview with TheStreet.com. Citigroup, Inc (NYSE: C) executives previously blocked Credit Agricole’s Mike Mayo from getting meetings with the company after Mayo made negative comments about the company, suggesting the firm needs [...]
Wells Fargo & Co. (NYSE: WFC) Adds Brokers in California, Virginia
Wells Fargo & Co. (NYSE: WFC) announced on Friday that it had recruited two teams of brokers, which generated a total of $4.5 million in fees and commissions during the last years, according to a report from Reuters. The San Francisco-based bank poached Bank of America Merrill Lynch adviser Mark Bokowski earlier in the month [...]
Piper Jaffray gives Priceline.com (NASDAQ: PCLN) $380.00 Price Target
Equities research analysts at Piper Jaffray set a new $380.00 price target on shares of Priceline.com (NASDAQ: PCLN) saying that the company’s industry fundamentals are improving. The analyst reiterated their “overweight” rating in a research note to investors on Friday. priceline.com Incorporated (priceline.com) is an online travel company, which offers a range of travel services, [...]
Judge Signals Approve of Citigroup’s SEC Case
Federal Judge Ellen Segal Huvelle said that she would “ultimately approve” Citigroup, Inc (NYSE: C)’s $75 million settlement with the U.S. Securities and Exchange Commission after both sides would agree to add changes related to the bank’s disclosure policies. The judge, who had originally questioned the deal, said that she was satisfied with the agreement [...]
MasterCard (NYSE: MA) Hopes to Steal Debit Market Share from Visa (NYSE: V)
Master Card Inc (NYSE: MA) expects that it will begin taking market share in the debit processing business away from Visa (NYSE: V) during the next year or two because of the recently-passed Dodd-Frank Act, according to a report from Reuters, which interviewed na executive at MasterCard. MasterCard chief product officer Tim Murphy said that [...]
Yes-Secure Launches Peer to Peer Lending Service in the U.K.
Yes-Secure.com has begun operating a peer to peer lending business in the United Kingdom, similar to Lending Club and Prosper.com in the United States. The company described its service in a recent press release, “YES-secure, an innovative P2P lending platform, allows multiple investors to bid on and fund a loan request. Investors can lend small [...]
Citigroup, Inc (NYSE: C) Sued by Central Bank of Norway
Citigroup, Inc (NYSE: C) has been sued by Norway’s Central Bank, Norges Bank, over $835 million worth of losses in Citigroup stock and bonds. The New York-based bank is accused of making “repeated material untrue statements and non-disclosure of material information to investors” between January 19th, 2007 and January 15th, 2009, allegedly causing Norges Bank [...]
Bank of America Corp (NYSE: BAC) Sold EU 130 Million in Structured Notes
Bank of America Corp (NYSE: BAC) sold 130 million euros, or about $173 million, worth of 2-year fixed-to-floating rate structured notes, according to a report from Bloomberg Businessweek. The securities, known as “switch notes”, pay a fixed coupon rate of 5.1% for the first three years, after which investors receive payments equivalent to the 10-year [...]
Bank of America Corp (NYSE: BAC) to Test New Tiered Pricing System
Bank of America Corp (NYSE: BAC) is set to test a number of new pricing packages which are modeled after mobile phone service contracts in an attempt to generate additional income to off-set lost revenue from restrictions on debit and credit card fees, the Financial Times reports. The Charlotte-based bank hopes to create a tiered [...]
Prosper.com Boasts of Lower Loan Loss rates
Prosper.com, a company which operates a peer to peer lending marketplace, has issued a report claiming that its loan loss rates have declined dramatically after registering with the U.S. Securities and Exchange Commission and strengthening its borrower requirements. “Clearly the risk management guardrails that have been implemented are paying off for lenders and setting the [...]
Get a Free Audiobook with the “Audible.com/Garmin” Deal
Most people know that you can listen to audiobooks on your iPod, but you can also listen to audiobooks on Garmin devices and on the Kindle. Because of a partnership between Garmin and Audible.com, you can get a free audiobook using the “Audible.com/Garmin” Deal and 14 days of free services as well as access to [...]
League Tables Cast Positive Light for Goldman Sachs (NYSE: GS) and JPMorgan Chase (NYSE: JPM), Bad News for Citigroup (NYSE: C)
The league tables, used to rank the big banks and serve as bragging rights for the merger advisors is out. Somewhat surprisingly, Goldman Sachs (NYSE: GS) leapfrogged to the front of the line. Goldman has advised on $392 billion worth of deals through the first three quarters of the year, edging out their closest rival [...]
Raises on Horizon at Citigroup (NYSE: C)
Let the fury begin. Today, it was reported that Citigroup (NYSE: C) is planning to give several top executives salary raises in the form of stock, which will lead to multi-million dollar increases in total compensation. Aligning the goals management and shareholders has been a point of contention for many years, one that many assumed [...]
worst video player ever- after over2:00 there's still no video appearing 