Archive for September, 2010
Citigroup, Inc (NYSE: C) Settlement Defended by Securities and Exchange Commission
The U.S. Securities and Exchange Commission is defending its $75 million settlement with Citigroup, Inc (NYSE: C) on charges that it misled investors about potential losses from subprime mortgage calling the deal “fair and adequate” The SEC made its case in a court filing on Wednesday to a federal judge who said last month that [...]
SmartyPig Hires New Senior Vice President of Marketing
SmartyPig, a company which offers goal-based online savings accounts, has announced that it has hired Suzin Wold as the company’s newly created role of Senior Vice President of Product and Marketing. The company said in a press release that “Wold brings 16 plus years of successful marketing and brand management experience to her new position [...]
Emdeon (NYSE: EM) to Purchase Chamberlin Edmonds & Associates with Citigroup, Inc (NYSE: C) Funding
Emdeon (NYSE: EM), a provider of healthcare payment technologies, announced on Tuesday that it plans to purchase Chamberlin Edmonds & Associates Inc. for $260 million in cash using a $100 million financing commitment from Citigroup, Inc (NYSE: C) Capital markets.. Chamberlin Edmonds works with hospitals to reduce bad debt and uncompensated care expenses. The privately-held, [...]
Bank of America Corp (NYSE: BAC) Says Double-Dip Recession Only 25% Likely
Thomas Montag, Bank of America Corp (NYSE: BAC)’s Merrill Lynch division president of global banking and markets, said during a presentation that the global economy has a 25% change of seriously worsening again and that it would take another major event to trigger a double-dip recession. “We have a 25 percent chance of a double-dip [...]
GlasoSmithKline (NYSE: GSK) Hires Former Goldman Sachs (NYSE: GS) Executive as CFO
GlaxoSmithKline (NYSE: GSK) announced on Wednesday that it has hired former Goldman Sachs Group Inc. (NYSE: GS) investment banker Simon Dingemans as its new chief financial officer. Dingemans will succeed the company’s current chief financial officer, Julian Heslop, 59, who will retire next March. Mr. Dingemans has more than 25 years of experience working in [...]
Did Microsoft’s and Yahoo’s Search Deal Increase Google’s Market Share? (MSFT, GOOG, YHOO)
Microsoft Corp (NASDAQ: MSFT) and Yahoo (NASAQ: YHOO) have finally begun integrating their search services, but Google (NASDAQ: GOOG) may be the real winner in the search deal between Microsoft and Yahoo. Experian Hitwise, an analytical firm which measures search market share, said that Bing-powered searches accounted for 24% of all queries during the first [...]
General Motors Co. to Compete Ford (NYSE: F) Sync Technology
General Motors Co. plans on competing with Ford Motor Co. (NYSE: F) on its Sync in-car services system by offering free services via its OnStar in-car communications unit beginning next year, according to a report from Bloomberg. OnStar, a service which provides accident alerts, navigation and vehicle diagnostics, is currently a paid subscription service for [...]
Citigroup, Inc (NYSE: C) CEO Has Lunch with Large Investors
Citigroup, Inc (NYSE: C) CEO Vikram Pandit hosted a lunch on Tuesday with the bank’s largest investors at a time when the New York-based bank is in the midst of a controversy relating to its accounting practices and while the company’s stock has remained relatively stagnant at $4.00 per share. The lunch, first reported by [...]
Bank of America Corp (NYSE: BAC) Says For Profit Colleges Face Earnings Challenges
Bank of America Corp (NYSE: BAC) lowered its earnings outlook and stock ratings on several for-profit colleges citing regulatory uncertainty. Analysts Sara Gubins, David Chu and David Ridley said that earnings for these companies will decline in 2011 and 2012 as the industry adjusts to new federal regulation and additional scrutiny, but the analysts said [...]
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Citigroup, Inc (NYSE: C) Simplifies Checking Account Offerings, Raises Fees
Citigroup, Inc (NYSE: C) is working on simplifying its retail checking offerings which will provide more choice for consumers but potentially leave consumers with higher fees as the bank faces difficulty in generating revenue in its retail business as a result of the Dodd-Frank financial reform act. Under the company’s new setup, retail customers that [...]
Visa (NYSE: V), American Express (NYSE: AXP) and MasterCard (NYSE: MA) Approve $10 Credit Card Minimums
With the recent passage of the financial reform bill, Visa (NYSE: V), American Express (NYSE: AXP) and MasterCard (NYSE: MA) are now allowing merchants to set a minimum dollar amount that consumers will be able to charge to credit cards in a single transaction. Visa (NYSE: V) was the first company which allowed its merchants [...]
Bank of America Corp (NYSE: BAC) Set to Announce Q3 Earnings on October 19th
Bank of America Corp (NYSE: BAC) announced on Friday that it would be announcing its third quarter earnings results on Tuesday, October 19th before the market opens. The Charlotte-based bank plans to release its earnings results at 7:00 AM Eastern followed by a presentation to investors at 8:30 AM Eastern. The web-cast, along with the [...]
Lending Club Tops $12 Million in Loan Originations in August 2010
Lending Club, a venture capital-backed company which operates a peer to peer lending marketplace, has issued more than $12 million in loans during the month of August, marking the largest single monthly dollar amount that a U.S. peer to peer lending company has issued in loans in a given month. During the month of August, [...]
SmartyPig cuts Interest Rates from 2.10% to 1.75%
SmartyPig, a company which offers goal-based online savings accounts, is lowering the interest rate that it affords to customers from 2.10% to 1.75% effective on Tuesday, September 7th. The company wrote the following note to its customers on its blog, “As you may know, interest rates on deposit accounts at many banks have been declining [...]
worst video player ever- after over2:00 there's still no video appearing 