Home » Archive for February, 2010
J.P. Morgan (NYSE:JPM) Sole Underwriter of Air India $1.1-billion Bridge Loan Refinance
J.P. Morgan (NYSE:JPM) has become the sole underwriter of a loan which replaces a bridge loan from Standard Chartered, originally used for the purpose of Air India acquiring new planes for its fleet. The bridge loan refinanced was... More of this article »
J.P. Morgan (NYSE:JPM) to Announce Acquisition of Energy Business From RBS Sempra
J.P. Morgan (NYSE:JPM) could announce as early as today that they had come to an agreement to acquire some of the energy assets owned by Royal Bank of Scotland and Sempra Energy. Details of which parts of the energy business will be... More of this article »
Citibank (NYSE:C) Hiring in Australia to Rebuild Research Business
During the height of the economic crisis financial institutions like Citibank (NYSE:C) cut back on their staff, especially on the investment research aspect of the business in order to focus on surviving and strengthening their foundations.... More of this article »
New Wells Fargo and Gallup Study Shows Small Business Owners Remain Pessimistic (NYSE: WFC)
A new study from Wells Fargo (NYSE: WFC) indicates that small business owners still remain pessimistic about the state of the economy as a whole, with the most recent study showing no overall change in perception during the month of... More of this article »
Lending Clubs’ Interest Rates on Unsecured Loans Beat Industry Averages
Recent data made available by Lending Club and Prosper Marketplace indicate that the vast majority of its borrowers take out unsecured loans from the two companies’ peer-to-peer lending marketplaces for debt consolidation. There’s... More of this article »
Why Are We Even Talking about ‘Volcker Rule’ and Goldman Sachs (NYSE:GS) and More?
In what looks like a last ditch effort to bring the dead ‘Volcker Rule’ back to life, the government keeps parading out the former Federal Reserve chairman in attempts to keep it as part of the conversation, the most recent time... More of this article »
Former Bank of America (NYSE:BAC) and Wachovia Executives Raising Money to Scoop Up Failed Banks
In an attempt to buy up the growing number of failed banks, executives who used to work for Bank of America (NYSE:BAC) and Wachovia are trying to raise $1 billion to acquire them from the Federal Deposit Insurance Corp. (FDIC), according... More of this article »
Goldman Sachs (NYSE:GS) Has Contrary View on Federal Reserve Priorities
There are two major priorities the Federal Reserve is facing, and how they enact deal with them will have a lot of impact on business and consumers. Goldman Sachs (NYSE:GS) has the view that the Fed will increase interest rates rather... More of this article »
Will Credit Card Lawsuit Against JPMorgan (NYSE:JPM) Expand to Class-action Status?
J.P. Morgan (NYSE:JPM) has a lawsuit filed against it from a former credit card customer which seeks class-action status for the raising of interest rates even after a customer closed his account with them. According to the complaint,... More of this article »
Citibank (NYSE:C) Offering Foreclosure Help Through CitiMortgage Unit
Not all foreclosure help is in the form of saving the home for the mortgage holders, and in the new pilot program offered by Citibank through its CitiMortgage are, they are offering other forms of help which will not only save money... More of this article »
Bank Of America (NYSE: BAC) To Pay Wisconsin Borrowers Restitution From 2009 CountryWide Settlement
Bank of America (NYSE: BAC) will pay more than $824,000 in restitution to its Wisconsin customers as part of a 2009 settlement against Countrywide Financial, which the bank acquired in 2008, according to the Wisconsin Department of... More of this article »
Lending Club Rate Reduction is Result of Lower than Expected Default Rates
Peer-to-Peer lending giant Lending Club recently reduced the interest rates that are being charged to borrowers by as much as 50 basis points. A recent statement made by Lending Club’s senior director of product marketing indicates... More of this article »
Need a Flexible Unsecured Loan? Checkout Lending Club
Getting an unsecured personal loan from a bank is becoming increasingly difficult as banks cut back on their lending to meet new capital requirements from various state and local regulators. Banks are adding new fees to personal loans,... More of this article »
Peer-to-Peer Lending Company, Lending Club, Announces New Brand Identity
Lending Club, the fastest growing peer-to-peer lending company in the United States, unveiled a new brand identity on Friday that includes a new red and navy logo and a new friendlier website. According to a blog post on Lending Clubs... More of this article »
JPMorgan (NYSE:JPM) May Land Spanish Port Business from ACS
An infrastructure fund of J.P. Morgan (NYSE:JPM) is reportedly close to a deal to acquire the port business from ACS subsidiary Dragados SPL, according to some sources close to the situation. Problems over the port sector are evidently... More of this article »
Forrester Report: Citibank (NYSE:C) and JPMorgan (NYSE:JPM) and Bank of America (NYSE:BAC) Among Least Trustworthy Banks
While most banks haven’t fared too well this year in trustworthiness, according to a Forrester report Citibank (NYSE:C), JPMorgan Chase (NYSE:JPM) and Bank of America (NYSE:BAC) are near the bottom of the list for large banks.... More of this article »
Citigroup (NYSE:C) CFO Says Employee Pay Will Be Competitive in 2010
The Chief Financial Officer (CFO) for Citigroup (NYSE:C), John Gerspach, stated unequivocally at a conference on Thursday that employees of the bank were paid competitively in 2009 and could expect to see similar pay in 2010. The... More of this article »
Credit Suisse Group AG (VTX:CSGN) Generates Profits for Fourth Straight Quarter
Credit Suisse Group AG (VTX:CSGN) was able to turn a profit for the fourth straight quarter, as the largest bank in Switzerland as measured by market value enjoyed a good start to their fiscal year, ending on December 31, 2009. As... More of this article »
Treasury Department Looking to Sell Citigroup (NYSE:C) Trust Preferreds
Looking to generate a profit from the junior debt trust preferred of Citigroup (NYSE:C), the U.S. Treasury Department is thinking of selling $2.2 billion worth to get back some of the bailout money the giant bank received from them... More of this article »
Bank Of America (NYSE: BAC) Names New Chief Administration Officer, Alters Title
Bank of America (NYSE: BAC) announced Thursday its replacement for retiring Chief Administration Officer J. Steele Alphin. The bank named Andrea Smith as his replacement, changing the official title of the position to global human... More of this article »
Bank of America’s (NYSE:BAC) Challenge to Continue Growing 401(k) Enrollment
Bank of America Corp. (NYSE:BAC) has a major challenge this year in continuing on with their 401(k) enrollment program growth, as last year they had a big increase in enrollments, rising by about 15 percent to reach $81.5 billion. Under... More of this article »
Goldman Sachs (NYSE:GS) CFO David Viniar: Don’t Expect Compensation Cuts in 2010!
Goldman Sachs (NYSE:GS) Chief Financial Officer David Viniar said at a conference that in 2010 they will resume paying their employees by performance and not cut bonuses as they did in 2009. He was of course referring to the so-called... More of this article »
Goldman Sachs (NYSE:GS) Resumes Citigroup (NYSE:C) Coverage with Neutral Rating
On the resumption of their coverage of Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) gave them a neutral rating, as growth in revenues and profit over the next year won’t be that impressive. Citigroup is primarily on the defensive... More of this article »