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Bank Of America (NYSE: BAC) Global Wealth President Staying Put, Merrill Pay Structure To Remain Same
Bank of America’s (NYSE: BAC) global wealth unit president Sallie Krawcheck said she has no plans to leave the company and that the pay structure for the bank’s Merrill Lynch financial advisors is not set to changes, according... More of this article »
Morgan Stanley (NYSE: MS) To Hold Investment Symposium For Domestic Partners
Morgan Stanley (NYSE: MS) announced Tuesday that in conjunction with the Gay & Lesbian Alliance Against Defamation (GLAAD), the Williams Institute – UCLA School of Law and The Principal Funds, it will host a private reception... More of this article »
Shares Of Citigroup (NYSE: C) Rise On Goldman Sachs (NYSE: GS) Upgrade
Shares of Citigroup (NYSE: C) are trading more than 4 percent higher on Monday despite the financial sector being down roughly 1 percent. The stock found strength following an upgrade by Goldman Sachs (NYSE: GS) to buy from neutral. Goldman... More of this article »
Shares Of JP Morgan (NYSE: JPM), Bank Of America (NYSE: BAC) Jump On Bank Reform Approval
The financial sector jumped 3.6 percent on Friday as investors celebrated the U.S. Senate’s approval of financial reform legislation. The bill received an approval vote of 59-39, marking the first major step for the legislation... More of this article »
Wells Fargo (NYSE: WFC) Boosts Student Loan Offerings
Wells Fargo (NYSE: WFC) announced it has expanded its student lending options, launching the Wells Fargo Student Loan for Parents program. The move aims to help parents cover their students’ education costs. According to the... More of this article »
Treasury Department To Cash In On Wells Fargo (NYSE: WFC) Warrants
The Treasury Department will make its latest move to regain additional taxpayer money on Thursday as an auction is scheduled to sell the Wells Fargo (NYSE: WFC) warrants it holds. The Treasury is expected to raise at least $715 million... More of this article »
General Electric (NYSE: GE) To Invest $20 Million In ShoreBank, Joins Bank of America (NYSE: BAC), Others In Rescue Effort
General Electric (NYSE: GE) said Tuesday that it will invest roughly $20 million in ShoreBank, joining several other big banks, such as Bank of America (NYSE: BAC) and JP Morgan (NYSE: JPM) in an attempt to save the bank from a government... More of this article »
Paulson & Co. Add To Bank of America (NYSE: BAC) Stake
Billionaire hedge fund manager John Paulson added to his Bank of America (NYSE: BAC) stake in the first quarter, according to a regulatory filing. His fund, Paulson & Co, added about 16.7 million shares for a total stake of 167.8... More of this article »
Capital One (NYSE: COF) Reports Lower Credit Card Defaults In April
Credit card defaults at Capital One Financial Corp (NYSE: COF) fell in April as consumers continue to steady their debt loads in a rebounding economy. The credit card company said its net charge off rate in April dipped to an annualized... More of this article »
Goldman Sachs (NYSE: GS) To Stop Prop Trading CLO Debt
Goldman Sachs (NYSE: GS) plans to stop its proprietary trading of collateralized loan obligations (CLOs), according to recent reports. The Wall Street bank, which has recently been investigated by regulators over its practices in... More of this article »
Mortgage Rates Hit Yearly Low, Says Freddie Mac (NYSE: FRE)
The average rate on a 30-year fixed mortgage fell to its lowest level all year during this week, according to Freddie Mac (NYSE: FRE). The average rate on the fixed rate home loan was 4.93 percent, down from 5 percent a week ago. ... More of this article »
Report: Morgan Stanley (NYSE: MS) Probed By Regulators Over Derivatives
Federal regulators are investigating Morgan Stanley (NYSE: MS) to figure out whether the bank holding company misled investors in regard to mortgage backed investments it was involved in creating, according to recent reports. The Wall... More of this article »
AIG (NYSE: AIG) Green Lights $380 Million Compensation Plan For 2010
American International Group (NYSE: AIG) has approved a compensation plan that will payout $380 million to executives based on their performance, according to recent reports. The plan comes as the insurer works to find a balance... More of this article »
JP Morgan Chase (NYSE: JPM) Ups Bet On Gannett Co.
JP Morgan Chase (NYSE: JPM) has become the largest investor in newspaper publisher, Gannett Co. after acquiring more shares of the firm, giving it a total of 24.3 million, according to a regulatory filing. The additional purchase... More of this article »
Bank Of America (NYSE: BAC) Launches Disaster Relief Program For Tennessee Customers
Bank of America (NYSE: BAC) announced yesterday that is activating a disaster relief program in 42 Tennessee counties that have been designated as disaster areas by the Federal Emergency Management Agency due to mass flooding. The... More of this article »
Citigroup (NYSE: C) To Pay Director $350K For As Little As Three Weeks Of Consulting
Citigroup (NYSE: C) will pay one of its directors 350,00 for as little as three weeks of consulting work, according to recent reports. Robert Joss, a former Wells Fargo (NYSE: WFC) executive, has an annual consulting deal that calls... More of this article »
Bank Of America (NYSE: BAC), Citigroup (NYSE: C) To Take Charge For U.K. Bonus Tax
Bank of America (NYSE: BAC) and Citigroup (NYSE: C) reported in regulatory filings that second quarter earnings will likely take a large hit due to a tax imposed on bonus compensation by the United Kingdom. The tax, which was implemented... More of this article »
Bank Of America (NYSE: BAC) Settles Countrywide Class Action Suit For $164 Million
Bank of America’s (NYSE: BAC) Countrywide Financial Corp agreed to a $624 million settlement on Friday over a lawsuit that claimed the mortgage lender mislead investors about its lending methods. The deal was struck with the New... More of this article »
AIG (NYSE: AIG) Swings To Q1 Profit On Investment Income
American International Group (NYSE: AIG) announced Friday that it returned to a profit in the first quarter as business improved at its life insurance and retirement units. The insurer, majority owned by the U.S. government said... More of this article »
Banco do Brasil Stock Offering To Be Managed By Bank of America (NYSE: BAC), Citigroup (NYSE: C), BTG Pactual
Banco do Brasil announced that it has hired the local Brazilian offices of Bank of America (NYSE: BAC), Citigroup (NYSE: C), along with BTG Pactual, a Brazilian securities company, to manage its planned stock offering. Banco do Brasil,... More of this article »
MasterCard (NYSE: MA) Q1 Profit Jumps 24 Percent On Transaction Growth
MasterCard (NYSE: MA) reported Tuesday that first quarter earnings jumped 24 percent as the number of transactions the company processed and the prices they charged merchants to handle them were both higher in the period. The credit... More of this article »
UBS (NYSE: UBS) Swings To Q1 Profit, Tops Estimates
UBS AG announced Tuesday that it swung back to a profit in the first quarter as strong results from its investment banking unit helped boost the bottom line. The Swiss bank said it earned 2.2 billion Swiss francs ($2.02 billion)... More of this article »
Bank Of America (NYSE: BAC) Names Robert Arth President Of Business Capital Unit
Bank of America (NYSE: BAC) announced Monday that Robert Arth has been selected as the new president of Bank of America Business Capital, a unit of the bank that provides asset-based lending worldwide. Bank of America Business Capital... More of this article »