Home » Archive for February, 2010
Bank of America (NYSE:BAC) Appoints Co-leaders to Global Capital Markets Unit
A number of the big banks have been shuffling their people around in hopes of finding combinations which will help them generate more revenue and profits in the years ahead. Bank of America’s (NYSE:BAC) latest move has been to... More of this article »
Did Goldman Sachs (NYSE:GS) Help Greece Cook its Books?
An article in Der Spiegel asserts Goldman Sachs (NYSE:GS) helped Greece cover up the true depth of its debt situation through creative use of cross currency swaps which allowed Greece to be in much deeper debt than allowed under what... More of this article »
MetLife (NYSE: MET) In Talks To Buy AIG (NYSE: AIG) Alico Unit For $15 Billion
MetLife Inc. (NYSE: MET) is in serious negotiations to purchase the American Life Insurance Co (Alico) from American International Group (NYSE: AIG) for roughly $15 billion in what would be a cash and stock deal, according to recent... More of this article »
Goldman Sachs (NYSE:GS) Ramping Up its ETF Strategy
With exchange-traded funds (ETFs) being among the fastest growing segments in the financial industry, Goldman Sachs (NYSE:GS) has started to focus on looking to that segment for growth and expansion. The investment banking behemoth... More of this article »
Judge Rules Against Bank of America in $209 Million Cabi Downtown Case
Bank of America (NYSE:BAC) was dealt a blow in its $209 million case against Cabi Downtown over whether the firm filed Chapter 11 bankruptcy for the sole purpose from protecting them from foreclosure, which the banking giant and other... More of this article »
Standard & Poor’s cuts Bank of America (NYSE: BAC) and Citigroup (NYSE: C) ratings outlook to negative
Standard & Poor’s announced Tuesday that it lowered the ratings outlook on Bank of America (NYSE: BAC) and Citigroup (NYSE: C) to negative. The ratings agency cited uncertainty over the government’s willingness to supply... More of this article »
Does Wells Fargo’s (NYSE:WFC) Plans to Hire 1,000 Brokers Mean Growth or Maintaining Work Force?
The announcement that Wells Fargo (NYSE:WFC) will be adding 1,400 brokers to their work force on the surface seems to be a nod toward significant growth prospects and an aggressive expansion into the sector, but the reality is, according... More of this article »
Citigroup (NYSE:C) to Hire Another 1,000 Workers for Phillipines Market
Even though Citigroup (NYSE:C) overall has been a disaster during the economic crisis, with many of its underlying weaknesses exposed, that hasn’t been the case in its Philippines operations, where they have continue to perform... More of this article »
Judge To Rule On Bank Of America (NYSE: BAC), SEC Settlement
U.S. District Judge Jed Rakoff said Monday that he will decide by the end of next week whether or not to reject the latest settlement between Bank of America (NYSE: BAC) and the Securities and Exchange Commission in regard to its 2009... More of this article »
BigCarrots.com Mixes Peer-to-Peer Lending and Corporate Bonds in the United Kingdom
BigCarrots.com, a U.K. based social lending company, is hoping to make consumer-to-business lending more accessible with its new social lending site. Typically when an individual investor makes a loan to a business or corporation,... More of this article »
Zopa On Pace to Originate £50 Million in Peer-to-Peer Loans During 2010
Zopa, a peer-to-peer lending company that operates in the United Kingdom, Italy, and Japan, announced that they have originated £3.81 million in new peer-to-peer loans during the month of January and are on pace to originate over... More of this article »
JPMorgan (NYSE:JPM) Raises Close to $700 Million for Movie Theaters to go Digital
Someone close to the situation said that J.P. Morgan Chase (NYSE:JPM) has raised around $700 million of the purpose of the largest theater chains in America to equip themselves with digital projectors and screens which can play movies... More of this article »
Citigroup (NYSE: C) Attempting to Sell $3 Billion in Car Loans
According to a new FT Report, Citigroup is in talks with private equity groups and hedge funds to sell $3 billion worth of car loans as part of its ongoing efforts to slim-down and eliminate billions of dollars in troubled assets from... More of this article »
Citigroup (NYSE: C) Raises Mexican Stocks to ‘Overweight’
Citigroup Inc (NYSE: C) raised Mexican stocks to “overweight” from “neutral” citing attractive valuations in the country, an economic recovery, and expectations that interest rate increases will be delayed until September. The... More of this article »
J.P. Morgan’s (NYSE:JPM) CEO Jamie Dimon Awarded $17 Million Stock Bonus
Based on the performance of J.P. Morgan Chase (NYSE:JPM) during the recession, where Chief Executive Officer Jamie Dimon led them to a profit every quarter, he was awarded with a bonus worth $17 million for 2009, none of it being... More of this article »
Will Bank of America (NYSE:BAC) CEO Ken Lewis Be the One to Take Down Ben Bernanke and Hank Paulson?
So far with the economic and banking fiasco in America, Ben Bernanke and Hank Paulson haven’t given much more than a slap on the wrist, while Bernanke was voted on to continue with his policies at the Federal Reserve which have... More of this article »
Guilt by Association? Wells Fargo & Co’s. (NYSE: WFC) Purchase of Wachovia Increases Exposure to Troubled Mortgages
Wells Fargo & Co. (WFC) finds themselves at the epicenter of a problem that continues to vex homeowners in this fragile economy. At issue are tens of thousands of customers with adjustable-rate mortgages who have seen their monthly... More of this article »
Citigroup (NYSE:C) Sued By ‘Guy Hands’ and Terra Firma Over Acquisition of EMI
Citigroup (NYSE:C) is being sued by the CEO of private equity firm Terra Firma in the deal where the bought EMI for what he is calling a ‘fraudulently inflated’ £4.2 billion. Numbers reported by the music giant last week... More of this article »
Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein Lands $9 Million Bonus for 2009
The Times of London is looking completely incompetent in the wake of the revelation that Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein received a 2009 bonus of only $9 Million after leading the company to record profits. The Times asserted... More of this article »
Wells Fargo (NYSE:WFC) Now Offering Mobile Text Banking to All its Customers
Wells Fargo (NYSE:WFC) has rolled out its mobile text banking program to all its customers, making it the first bank or financial institution in America to offer the service to all its customers. Even if you’re not signed up... More of this article »
New York Attorney General Andrew Cuomo Files Securities Fraud Lawsuit Against Former Bank of America (NYSE:BAC) CEO Ken Lewis and CFO Joe Price
In a charges that many are scratching their heads about, New York Attorney General Andrew Cuomo, who seems to be positioning himself for moving up in politics, filed securities fraud charges against former Bank of America CEO Ken Lewis... More of this article »
Is Citigroup (NYSE: C) Looking South for Successor to Pandit?
If speculation inside Citigroup (C) is to be believed, then former Latin America head Manuel Medina-Mora may be one step closer to fulfilling a large ambition. Although current Citigroup CEO Vikram Pandit has only been in his position... More of this article »
Deutsche Bank AG (ETR:DBK) Profits Rise in Fourth Quarter
Deutsche Bank AG (ETR:DBK), the largest German bank, report fourth quarter profits had risen after record losses the year before, where the banking giant lost EUR 4.8 billion. Net profits rose to $1.8 billion for the quarter, surpassing... More of this article »