Home » Archive for July, 2010
Citigroup (NYSE: C) Australia Head Bets Job on Top Three Ranking
Citigroup, Inc (NYSE: C)’s top executive in Australia, Stephen Roberts, has put his job on the line by winning a top-three domestic ranking in Australia during the next two years. “If I’m not in that position in 2012, I won’t... More of this article »
Bank of America Corp (NYSE: BAC) To Sell $1.2 Billion in Fund Commitments
Bank of America Corp (NYSE: BAC) is working on selling $1.2 billion in commitments made to funds managed by Warburg Pincus LLC on the secondary market as part of an ongoing effort by the Charlotte-based bank to reduce its private equity... More of this article »
Ford Motor Co. (NYSE: F) Cancels Bond Deal Because of Financial Reform Legislation
Ford Motor Co. (NYSE: F)’s financing division has cancelled plans for a new sale of debt, in what some consider the first shot across the bow to the bond market since the signing of the financial reform regulation. The Wall Street... More of this article »
General Electric Co. (NYSE: GE) Wins $16 Billion in Equipment and Service Deals
General Electric Co. (NYSE: GE) earned more than $16.1 billion in equipment and service deals during the first three days of the Farnborough Air Show as industry demand rebounds. Out of the $16 billion total, $3 billion came via an... More of this article »
KeyCorp (NYSE: KEY) CEO Sounds Cautiously Optimistic Tone; Reports First Quarterly Profit in 2 Years
KeyCorp (KEY) reported its first quarterly profit in two years. The Cleveland-based banking company attributed the positive report to fewer non-performing loans, more income from fees and better cost controls. “These results are... More of this article »
Morgan Stanley (NYSE: MS) Hires Top Advisor from First Allied Securities
Morgan Stanley (NYSE: MS) Smith Barney has hired an adviser from First Allied Securities who generated more than $3 million worth of annual fees and commissions, the company confirmed on Tuesday. Laurence Braunstein has joined Morgan... More of this article »
British PM Cameron to meet with Leaders of Citigroup (NYSE: C), JPMorgan Chase (NYSE: JPM), Goldman Sachs (NYSE: GS) and Others
While most attention is paid to the financial crisis in the US, the global recession’s impact on the U.K. has also been deep and severe. David Cameron, British Prime Minister, will meet with leaders of New York’s financial... More of this article »
Wells Fargo (NYSE: WFC) Beats Earnings Estimates On Lower Loan Losses
In the latest round of earnings season, Wells Fargo & Co (NYSE: WFC) posted higher than expected quarterly earnings. The fourth largest US bank was buoyed by declining losses on commercial and consumer loans, a similar story echoed... More of this article »
Sprint Nextel (NYSE: S) Completes $750 Million Spectrum Clearing Project
Sprint Nextel (NYSE: S) has announced that it has completed a five-year, $50 million project to clear wireless spectrum for the national broadband Internet plan. Sprint said that it had more than 1,000 engineers, technicians, tower... More of this article »
Intel (NASDAQ: INTC) To Invest in Game Streaming Service
Intel Corp. (NASDAQ: INTC)’s venture capital arm, Intel Capital, is making a play in cloud-based gaming through an investment Gaikai, a service which plans to stream games over the Internet beginning this summer. Gaikai’s... More of this article »
Citigroup, Inc (NYSE: C) Hires Municipal Bond Strategist
Citigroup, Inc (NYSE: C) has hired municipal bond strategist George Friedlander as the bank’s senior U.S. municipal securities strategist. Friedlander, age 62, was dismissed by Morgan Stanley Smith Barney during the month of May... More of this article »
Morgan Stanley (NYSE: MS) Tops Estimates On Strong Trading Revenue
Morgan Stanley announced Wednesday that it posted a second quarter profit following a loss in the prior year quarter. The results were driven by a 53 percent jump in revenue. The Wall Street bank and broker said second quarter earnings... More of this article »
Wells Fargo (NYSE: WFC) CFO “Very Pleased” with Q2 Financial Performance
Wells Fargo (WFC) CFO Howard Atkins said management was “very pleased” with financial performance. The San Francisco-based bank reported 2nd quarter earnings on Wednesday that were well above Wall Street’s earnings... More of this article »
Requirements to take out a Loan on Lending Club
Lending Club offers three year and five year unsecured loans to qualified borrowers which are funded by other people. The company has some requirements for borrowers, but they are not necessarily as strict as what you might see when... More of this article »
Bank of America Corp (NYSE: BAC) Wins 7 Euromoney Awards
Bank of America Corp (NYSE: BAC) has received seven awards from Euromoney Magazine’s “2010 Awards For Excellence” program, including Best Bank in the U.S., Best Global High Yield Bond House, Best Equity House in North America,... More of this article »
Watchdog Says Treasury Needs to Improve Transparency with TARP Funds
Special Inspector General for TARP Neil Barofsky says that the U.S. Treasury Department needs to improve how it records negotiations with companies that have received taxpayer bailouts to ensure that the bailed-out firms are complying... More of this article »
BP (NYSE: BP) To Sell $7 Billion in Assets to Apache Corp (NYSE:APA)
BP (NYSE: BP) has agreed to sell $7 billion worth of oil and natural gas fields in the United States and abroad to Apache Corp (NYSE: APA) in its largest-move to date to raise money to pay for reparations for the Gulf of Mexico oil... More of this article »
Bank of America (NYSE: BAC) Loan Mods on the Rise
Loan Modification is a serious buzz term in the recent months. Leading the charge on this is the former Countrywide, now a division of Bank of America (NYSE: BAC). As one of the nation’s largest issuer of mortgages, they also... More of this article »
Goldman Sachs (NYSE: GS) Earnings Disappoint
Amid the market collapse of the second quarter, Goldman Sachs (NYSE: GS) disappointed with earnings results today. Combining with the market volatility, the costly settlement reached with the SEC knocked Goldman’s earnings. The... More of this article »
Bank of America Settles with Premier Information Management, Inc.
Bank of America Corp (NYSE: BAC) and Premier Information Management, Inc. (PINKSHEETS: PIFR) have entered into a pre-jury settlement in a lawsuit between the two companies which will eventually lead to a resulted in a court ordered... More of this article »
Citigroup, Inc (NYSE: C) Hires Former Goldman Sachs Group Inc. (NYSE: GS) Executive
Citigroup, Inc (NYSE: C) has hired a former Goldman Sachs Group Inc. (NYSE: GS) executive to lead its global oil trading business in Singapore. The executive, Rob Biro, will be the head of the first worldwide trading base of its kind... More of this article »
Bank of America Loan Modifications Total 650,000 (NYSE: BAC)
Bank of America Corp (NYSE: BAC) has now completed more than 650,000 loan modifications since January 2008. During the first half of 2010, Bank of America Corp (NYSE: BAC) announced that it has completed mortgage modifications for... More of this article »
Goldman Sachs (NYSE: GS) Cuts Operating Expenses by 15.5%
Most investors left Goldman Sachs Group Inc. (NYSE: GS) earnings announcement disappointed this morning with second-quarter profit falling by more than 82%, but the company was buoyed by a silver lining of decreasing its operating... More of this article »