Home » Archive for October, 2010

Taxpayers Will Profit from Citigroup Investment, Treasury Says (NYSE: C)

Posted by ABMN Staff on Oct 1st, 2010

The U.S. Department of Treasury said on Thursday that it plans to make a profit for taxpayers by selling it shares of Citigroup, as it offloaded a 5% stake in the company netting taxpayers more than $1 billion in profit. The government... More of this article »

MasterCard Purchases 12.5% in ElectraCard Services (NYSE: MA)

Posted by ABMN Staff on Oct 1st, 2010

MasterCard (NYSE: MA) has purchased a 12.5% stake in ElectraCard Services, an Indian provider of processing services and software for credit card and debit cards. “This investment will extend our processing footprint and create more... More of this article »

Ambac Financial Sues Bank of America Corp (NYSE: BAC) over Countrywide Lending Practices

Posted by ABMN Staff on Oct 1st, 2010

Ambac Financial has sued Bank of America Corp (NYSE: BAC) over certain lending practices of Countrywide, a mortgage business which the bank purchased in 2007, accusing the lender of failing to follow its internal standards when making... More of this article »

U.S. Treasury Sold 5% Stake in Citigroup, Inc (NYSE: C)

Posted by ABMN Staff on Oct 1st, 2010

The U.S. Department of Treasury sold a 5% stake in Citigroup, Inc (NYSE: C) for $5.9 billion during the last nine weeks, bringing a profit for taxpayers despite the bank’s share price falling during the period. The government sold... More of this article »