Home » Archive for September, 2010
Citigroup, Inc (NYSE: C) Offers $30 Million Salary Package to Stephen Trauber
Citigroup, Inc (NYSE: C) will pay about $30 million during the next three years to deal-maker Stephen Trauber, in a move which suggests that top bankers are again able to make high compensation demands, even at firms which have not... More of this article »
Bank of America Corp (NYSE: BAC) Sells $65 Million in Volatility Notes
Bank of America Corp (NYSE: BAC) sold $65 million in structured notes which are linked to its Investable Volatility Index. The offering, which occurred on September 22nd, was the largest in the United States that was tied to a proprietary... More of this article »
American Express Co. (NYSE: AXP) Declares Quarterly Dividend
American Express Co. (NYSE: AXP)’s board of directors issued a regular quarterly dividend on Monday. Shareholders of record on October 8th, 2010 will be paid $0.18 per share on November 10th, 2010. American Express Company (American... More of this article »
JPMorgan (NYSE: JPM) May Attempt to Recoup Funds used to buy Washington Mutual
JPMorgan Chase & Co. (NYSE: JPM) told regulators that it may attempt to recoup some of the money that it used to purchase the assets of Washington Mutual Inc. The New York-based bank told the FDIC in letters that it may seek the... More of this article »
InvestInMyEducation.com Joins Peer to Peer Lending Market
InvestInMyEducation.com has joined the ranks of Lending Club, Prosper.com, People Capital and Green Note in the business of offering student loans via a peer to peer lending market. The company said in a statement that, “InvestInMyEducation.com... More of this article »
Ford May Reduce Product Line-Up to 20 Models (NYSE: F)
Ford Motor Co. (NYSE: F) CEO Alan Mulally said on Monday that his company may reduce its line-up to as few as 20 models. When being asked about the Dearborn, MI-based company’s future line-up of models while addressing the Confederation... More of this article »
Richard Bove Comments on Mike Mayo and Citigroup, Inc (NYSE: C) Dispute
Rochdale Securities analyst Richard Bove commented on the ongoing disagreement between analyst Mike Mayo and executives at Citigroup, Inc (NYSE: C) in an interview with TheStreet.com. Citigroup, Inc (NYSE: C) executives previously... More of this article »
Wells Fargo & Co. (NYSE: WFC) Adds Brokers in California, Virginia
Wells Fargo & Co. (NYSE: WFC) announced on Friday that it had recruited two teams of brokers, which generated a total of $4.5 million in fees and commissions during the last years, according to a report from Reuters. The San Francisco-based... More of this article »
Judge Signals Approve of Citigroup’s SEC Case
Federal Judge Ellen Segal Huvelle said that she would “ultimately approve” Citigroup, Inc (NYSE: C)’s $75 million settlement with the U.S. Securities and Exchange Commission after both sides would agree to add changes related... More of this article »
MasterCard (NYSE: MA) Hopes to Steal Debit Market Share from Visa (NYSE: V)
Master Card Inc (NYSE: MA) expects that it will begin taking market share in the debit processing business away from Visa (NYSE: V) during the next year or two because of the recently-passed Dodd-Frank Act, according to a report from... More of this article »
Yes-Secure Launches Peer to Peer Lending Service in the U.K.
Yes-Secure.com has begun operating a peer to peer lending business in the United Kingdom, similar to Lending Club and Prosper.com in the United States. The company described its service in a recent press release, “YES-secure, an... More of this article »
Citigroup, Inc (NYSE: C) Sued by Central Bank of Norway
Citigroup, Inc (NYSE: C) has been sued by Norway’s Central Bank, Norges Bank, over $835 million worth of losses in Citigroup stock and bonds. The New York-based bank is accused of making “repeated material untrue statements and... More of this article »
Bank of America Corp (NYSE: BAC) Sold EU 130 Million in Structured Notes
Bank of America Corp (NYSE: BAC) sold 130 million euros, or about $173 million, worth of 2-year fixed-to-floating rate structured notes, according to a report from Bloomberg Businessweek. The securities, known as “switch notes”,... More of this article »
Bank of America Corp (NYSE: BAC) to Test New Tiered Pricing System
Bank of America Corp (NYSE: BAC) is set to test a number of new pricing packages which are modeled after mobile phone service contracts in an attempt to generate additional income to off-set lost revenue from restrictions on debit... More of this article »
Prosper.com Boasts of Lower Loan Loss rates
Prosper.com, a company which operates a peer to peer lending marketplace, has issued a report claiming that its loan loss rates have declined dramatically after registering with the U.S. Securities and Exchange Commission and strengthening... More of this article »
Get a Free Audiobook with the “Audible.com/Garmin” Deal
Most people know that you can listen to audiobooks on your iPod, but you can also listen to audiobooks on Garmin devices and on the Kindle. Because of a partnership between Garmin and Audible.com, you can get a free audiobook using... More of this article »
League Tables Cast Positive Light for Goldman Sachs (NYSE: GS) and JPMorgan Chase (NYSE: JPM), Bad News for Citigroup (NYSE: C)
The league tables, used to rank the big banks and serve as bragging rights for the merger advisors is out. Somewhat surprisingly, Goldman Sachs (NYSE: GS) leapfrogged to the front of the line. Goldman has advised on $392 billion worth... More of this article »
Raises on Horizon at Citigroup (NYSE: C)
Let the fury begin. Today, it was reported that Citigroup (NYSE: C) is planning to give several top executives salary raises in the form of stock, which will lead to multi-million dollar increases in total compensation. Aligning the... More of this article »
Lending Club Issues Record Number of Peer to Peer Loans in August
Peer-to-peer lending company Lending Club hit a new record high in the amount of loans that it originated during the month of August, issuing more than $12 million in loans to borrowers during the month. Lending Club is part of a fledgling... More of this article »
General Electric Co. (NYSE: GE) Announces Partnership for Car Charging Network
General Electric Co. (NYSE: GE) has partnered with Better Place, a Silicon Valley electric car infrastructure company, to develop technology and financing for car batteries, the company announced on Wednesday. G.E., a producer of an... More of this article »
Visa (NYSE: V) Gets Boost after $800 Million Funding of Litigation Escrow Account
Shares of Visa (NYSE: V) rose by 0.97% on Wednesday after the company announced that it had put $800 million of funding into its litigation escrow account. Analysts at FBR Capital reacted positively to the news saying that the escrow... More of this article »
G.E. and NBC Opposed to Apple’s $0.99 TV Rentals (NASDAQ: AAPL) (NYSE: GE)
General Electric Co. (NYSE: GE)’s NBC is unlikely to join rivals Fox and ABC in serving up $0.99 TV show rentals to Apple TV users for $0.99 through the iTunes store later in the year, said NBC Universal Chief Executive Jeff Zucker... More of this article »
Audible.com Zune: Get a Free Audiobook for Your Zune
If you own a Microsoft Zune or a Zune HD, you can grab a free audiobook through Audible.com. Audible.com is currently offering Zune users one free audio book, a value of up to $24.95, and 14 days of free services as well as access... More of this article »