Home » Archive for July, 2010
Citigroup, Inc (NYSE: C) South Asia Executive Hired by Reliance Industries Ltd
Citigroup, Inc (NYSE: C) South Asia head of markets V. Srikanth, will move to Reliance Industries Ltd as the company’s new deputy chief financial officer, according to a report from Bloomberg BusinessWeek citing anonymous sources. Srikanth,... More of this article »
Lehman Case against JPMorgan Chase & Co. (NYSE: JPM) to Take Place in 2015
Lehman Brothers Holdings Inc’s (PK: LEHMQ) lawsuit against JPMorgan Chase & Co. (NYSE: JPM) of allegedly cutting off billions of dollars and hastening what resulted in a record-setting bankruptcy will likely not go to trial... More of this article »
Bank of America Corp (NYSE: BAC) Limits Free Checking Accounts to Web-Only Customers
Bank of America Corp (NYSE: BAC) will begin offering free checking accounts to customers which only make use of it web services and ATM machines and don’t make use of branch services. The Charlotte-based bank will be introducing... More of this article »
JPMorgan Chase & Co. (NYSE: JPM) Earnings Disappoint Investors
JPMorgan Chase & Co. (NYSE: JPM) posted strong earnings on Thursday as a result of improving credit conditions, but the reaction from the market didn’t reflect the positing earnings announcement. The bank posted second-quarter... More of this article »
Citigroup, Inc (NYSE: C) to Sell $107 Million in Mortgages to Religare Enterprises
Citigroup, Inc (NYSE: C)’s Indian division has sold 5 billion rupees, or about $107 million, worth of mortgages to Religare Enterprises Ltd., an Indian financial-services firm owned by billionaire brothers Malvinder and Shivinder... More of this article »
Morgan Stanley (NYSE: MS) Hires JPMorgan Chase & Co. (NYSE: JPM) Takeovers Executive
Morgan Stanley (NYSE: MS), the world’s second largest M&A adviser, has hired JPMorgan Chase & Co. (NYSE: JPM)’s Thomas M. Miles, who has helped setup takeovers between a number of large companies including UAL Corp.’s... More of this article »
Citigroup, Inc (NYSE: C) Executive Takes $1 Million Pay Cut to Work for Obama Administration
President Obama announced the hiring of Jacob J. “Jack” Lew, an executive for Citigroup, Inc (NYSE: C), as his new top budget officer on Tuesday, but Lew will take a pay-cut of $1 million to take the job. When announcing the position,... More of this article »
Goldman Sachs Group Inc. (NYSE: GS) to Sell Sake in Teibow Co
Goldman Sachs Group Inc. (NYSE: GS) plans to sell its stake in Japan’s Teibow Co, a company which makes felt pen nibs, in a deal which would be worth about $113 million (10 billion yen), according to several media reports. Goldman... More of this article »
Sprint Nextel (NYSE: S) and T-Mobile Merger Rumors Return After Comments from Sprint CEO
Sprint Nextel (NYSE: S) and T-Mobile may be moving toward a merger as Sprint builds out its 4G network, said the Financial Times suggests in an article published Tuesday. According to the report, Sprint Nextel CEO Dan Hesse told the... More of this article »
Lazard Ltd Hires Citigroup, Inc (NYSE: C) Investment Banking Executive
Citigroup, Inc (NYSE: C)’s infrastructure-investment banking head, Jonathan Turnbull, has been hired away by Lazard Ltd, an investment bank whose clients have included the government of Greece. Mr. Turnbull, age 42, will join as... More of this article »
Ford Motor Co. (NYSE: F) Delays 2011 Ford Fiesta Deliveries
Shipments of Ford Motor Co. (NYSE: F)’s 2011 Ford Fiesta to U.S. dealerships have been delayed by 10 to 14 days because of storm-damaged rail lines. Ford spokeswoman Angie Kozleski said that key rail lines in northern Mexico were... More of this article »
Union Pension Fund Sues Pfizer (NYSE: PFE) Over Off-Label Marketing
Pfizer (NYSE: PFE) is being sued by a union pension fund which claims that the company’s board of directors ignored indications that the drug manufacturer was playing fast and loose with off-label marketing. The fund blames the company’s... More of this article »
Federal Judge Upholds Citigroup, Inc (NYSE: C) Class Action Suit
Federal District Court Judge Sidney Stein denied a request by Citigroup, Inc (NYSE: C) to dismiss a class-action lawsuit by a group of pension funds and an insurance company which purchased bonds issued between May of 2006 and August... More of this article »
Citigroup, Inc (NYSE: C) to Transfer Management of Private Equity Funds
Citigroup, Inc (NYSE: C) will transfer management of various in-house private equity funds to StepStone Group, LLC and sell its interest in the funds to Lexington Partners Inc. as part of an ongoing effort to shrink the New York-based... More of this article »
Citigroup, Inc (NYSE: C) Appoints New Asia Executive
Citigroup, Inc (NYSE: C) announced on Tuesday that it has appointed Javed Kureishi as its new head of its Asian global subsidiaries group. Kureishi currently serves as chief operating officer for Citigroup, Inc (NYSE: C)’ Middle... More of this article »
General Electric Co. (NYSE: GE) Set to Release Q2 Earnings on Friday
General Electric Co. (NYSE: GE) will report its second quarter earnings before the U.S. stock exchanges open on Friday, July 16th. The conglomerate reporter 1st quarter earnings of $2.3 billion ($0.21 earnings per share) down 18% compared... More of this article »
J.P. Morgan Chase (NYSE: JPM), Bank of America Corp. (NYSE: BAC) and Citibank (NYSE: C) are Ready to Report, But Will They Make the Grade?
It’s earnings season, and that means a slew of reports that give a snapshot into the health of corporations, including many of the top banks. Beginning tomorrow with JPMorgan Chase (JPM) and continuing on Friday with Bank of America... More of this article »
Bank of America Corp (NYSE: BAC) Ordered to Pay $5 Million to Former Exec
Bank of America Corp (NYSE: BAC) has been ordered by a Financial Industry Regulatory Authority (FINRA) arbitration panel to pay former head of media investment banking Stephen Ketchum $5 million in damages. Ketchum, who was laid-off... More of this article »
Citigroup, Inc (NYSE: C) to Expand Energy Trading Team in Asia
Citigroup, Inc (NYSE: C) will expand its energy trading team in Asia by hiring five new staff members including two new traders. The company has also ventured into physical oil trading during the last year, according to several media... More of this article »
Blackstone to Manage Bank of America Corp (NYSE: BAC) Real Estate Fund
Blackstone Group, a U.S. investment firm, will take over management of Bank of America Corp (NYSE: BAC)’s Asian real-estate fund, according to several media reports. Merrill Lynch raised $2.65 billion before it the firm was purchased... More of this article »
JPMorgan Chase & Co. (NYSE: JPM) Hires Former Senator Mel Martinez
JPMorgan Chase & Co. (NYSE: JPM) announced on Monday that it has hired former senator and secretary of housing and urban development Mel Martinez, as a senior executive for the Florida, Caribbean and Central America region. Martinez,... More of this article »
Ford Motor Co. (NYSE: F) Receives Loan Guarantee From U.K. Government
Ford Motor Co. (NYSE: F) has received a 360 million GBP loan guarantee from the U.K. government for the company’s 450 million GBP European Investment Bank loan, as part of the company’s 1.5 billion GDP British investment plan over... More of this article »
JPMorgan Chase & Co. (NYSE: JPM) Hires Exec to Expand Mobile Banking Business
JPMorgan Chase & Co. (NYSE: JPM) has hired Jack Stephenson, a payments industry veteran, as its new Director of Mobile, E-Commerce and Payments. Stephenson, who had previously served as the Senior Vice President of Strategy,... More of this article »