Home » Archive for September, 2010
Citigroup, Inc (NYSE: C) Hires American Express (NYSE: AXP) Executive to Run Credit Card Division
Citigroup, Inc (NYSE: C) has hired American Express Co. (NYSE: AXP) executive Jud Linville as the company’s new CEO of cards, the company announced on Tuesday. Linville had previously spent 20 years working at American Express Co.... More of this article »
Morgan Stanley (NYSE: MS) Denies Allegations about Subprime Mortgage Investments
Morgan Stanley (NYSE: MS) denied allegations made by the China Development Industrial Bank (CDIP) that it had suffered more than $250 million in losses from subprime-mortgage investments that the firm told CDIP were supposedly low-risk. A... More of this article »
Citigroup, Inc (NYSE: C) Hires Morgan Stanley (NYSE: MS) Executive
Citigroup, Inc (NYSE: C) has hired Cecelia Stewart from Morgan Stanley (NYSE: MS) as the company’s new president of its North American retail bank. Stewart, age 52, joined Morgan Stanley (NYSE: MS) in 2008 after working with Wachovia... More of this article »
Bank of America to Follow Citigroup’s Lead and Sell Non-Core Assets (NYSE: BAC) (NYSE: C)
Bank of America Corp (NYSE: BAC) plans on taking a move out of Citigroup, Inc (NYSE: C)’s playbook by highlighting billions of dollars’ worth of assets that it intends to either sell or wind down operations on. The Charlotte-based... More of this article »
Ford Motor Credit to Issue $1 Billion in Five Year Notes (NYSE: F)
Ford Motor Co. (NYSE: F)’s finance arm may sell $1 billion worth of five-year notes, according to a report from Bloomberg News. Ford Motor Credit, the second-largest issuer of high-yield corporate debt, may issue the debt as soon... More of this article »
Visa (NYSE: V) Comments on $10.00 Minimum for Credit Card Transactions
Visa (NYSE: V) has clarified its policies about allowing merchants to set a $10.00 minimum on credit card transactions in a blog post on its website after The Consumerist published an article suggesting that many of the largest credit... More of this article »
Citigroup, Inc (NYSE: C) Loses Investment Banking Market Share in Europe
Citigroup, Inc (NYSE: C) is losing some of its investment banking market share in Europe after 12 European managing directors left the company to competitors including Bank of America Corp (NYSE: BAC) and Barclays PLC (NYSE: BCS). Citigroup... More of this article »
BP Says that Claims Will Not Exceed $20 Billion (LON: BP)
BP PLC (LON:BP) doesn’t expect its legal claims from the Gulf of Mexico oil spill to go beyond the $20 billion it had set aside in an escrow fund managed by the government. A research report from Citigroup, Inc (NYSE: C) equities... More of this article »
JPMorgan, Wells Fargo and Bank of America Benefit from Basel III News (JPM, WFC, BAC)
JPMorgan Chase & Co. (NYSE: JPM), Wells Fargo & Co. (NYSE: WFC) and Goldman Sachs Group Inc. (NYSE: GS) all benefited from news on Monday as new global rules for capital requirements were clarified. The new set of rules, agreed... More of this article »
iPhone Antenna Issues Aren’t Over, Consumer Reports Says (NASDAQ: AAPL)
Apple (NASDAQ: AAPL) said on Friday that the company plans on discontinuing its case program at the end of September, a move which was designed to placate disgruntled iPhone 4 users that had antenna issues, but Consumer Reports saying... More of this article »
Nokia Hires Former Microsoft Executive as New CEO (NASDAQ: MSFT)
Nokia has hired former Microsoft (NASDAQ: MSFT) executive Stephen Elop to serve as its new chief executive officer in a move to reclaim lost ground to Apple and Google which has removed more than $161 billion worth of its market value. Elop,... More of this article »
Wal-Mart Appeals to Supreme Court over Sex Discrimination Suit (NYSE: WMT)
Wal-Mart Stores Inc. (NYSE: WMT) asked the Supreme Court to overturn a ruling which allowed a class-action lawsuit alleging that the company had discriminated against female employees. The 9th U.S. Circuit Court of Appeals, located... More of this article »
Homeowners Sue Bank of America (NYSE: BAC) over HAMP modification
Bank of America Corp (NYSE: BAC) has been sued by homeowners Anthony and April Soper who had applied through a mortgage modification through the Home Affordable Modification Program, but failed to receive a permanent modification. According... More of this article »
Washington Mutual Bankruptcy Settlement Suit Continues (NYSE: JPM)
A bankruptcy examiner won a federal judge’s approval to take more time to investigating the bank failure of Washington Mutual, which was purchased by JPMorgan Chase & Co. (NYSE: JPM), after saying that he needs more time to interview... More of this article »
Apple Ends Free iPhone 4 Case Giveaway as Antenna Issue Fades (NASDAQ: AAPL)
Apple (NASDAQ: AAPL) confirmed that it would be ending its free case give away to iPhone users, which the company began in July after complaints surfaced about low signal quality because of the phone’s antenna design. The Cupertino-based... More of this article »
Citigroup Files for Dismissal on Terra Firma Suit (NYSE: C)
Citigroup, Inc (NYSE: C) has asked a federal judge to throw out a lawsuit relating to the purchase of EMI Group by Terra Firma Capital Partners, who accused Citigroup of tricking the firm into overpaying for the music company in 2007. Terra... More of this article »
Former Executive Accuses G.E. Capital Services of Cooking the Books, Files Suit (NYSE: GE)
General Electric Co. (NYSE: GE)’s Capital Service unit has been sued by a former executive who claims he was forced out of the company for questioning the company’s accounting practices of a certain asset which he believed was... More of this article »
Chuck Prince and Robert Rubin Knew About Citigroup Subprime Exposure, SEC Says (NYSE: C)
When the U.S. Securities and Exchange Commission settled with Citigroup, Inc (NYSE: C) over charges that the bank misled its shareholders, only then-CFO Gary Crittenden and investor relations-head Arthur Tildesley were charged, but... More of this article »
Bank of America Stock Price to Increase by 30% in Next Year, Bove Says
Rochdale Securities vice president of equities research Richard Bove told Forbes magazine in an interview that he believed Bank of America Corp (NYSE: BAC)’s stock price would increase to $19.00 sometime next year, an increase of... More of this article »
Large Banks Moving Away from Blackberry to Google and Apple for Mobile Email (NADSAQ: GOOG) (NASDAQ: RIMM) (NASDAQ: AAPL)
JPMorgan Chase & Co. (NYSE: JPM) and several other banks considering whether or not to allow their employees to make use of smartphones for use in work email, including the Apple (NASDAQ: AAPL) iPhone and Google (NADASQ: GOOG)... More of this article »
Wells Fargo & Co. (NYSE: WFC) May Receive Credit Rating Boost from Moody’s
Wells Fargo & Co. (NYSE: WFC) was able to maintain profitability throughout most of the recession and may receive a ratings boost from Moody’s Investor Service as a result. The agency said on Thursday that the San Francisco-based... More of this article »
JPMorgan Chase & Co. (NYSE: JPM) Hires Bank of America Corp (NYSE: BAC) Attorney
JPMorgan Chase & Co. (NYSE: JPM) has hired away Bank of America Corp (NYSE: BAC) Deputy General Counsel Gregory Baer to manage JPMorgan’s global regulation and corporate legal matters. The announcement was made by JPMorgan General... More of this article »
Audible.com Review: What You Need to Know About Audible
If you’re a commuter, a traveler, or get bored at the gym, you might want to consider listening to audio books as a way to keep your self-entertained or expand your horizons. You can now get just about any book that you might want... More of this article »