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Citigroup (NYSE: C) Planning to Repay TARP?
It looks like Citigroup (NYSE: C) is ready to board the TARP repayment train. During the past 12 months, Citigroup has received large sums of money ($45 billion) as part of the Troubled Asset Relief Program (TARP). Now, in an effort... More of this article »
Bank of America (NYSE: BAC), Other Banks To Rebound On Mortgage Applications?
Banking revenue related to home mortgage loans should be in for an uptick in the coming months. The data continues to pour in, and equity researchers are struggling on digesting it all. This week, the Mortgage Bankers Association released... More of this article »
Bank of America (NYSE: BAC) Repaying TARP, Signs of Rebound?
Last week, Bank of America (NYSE: BAC) announced its plans to repay the TARP funds that it received. Some perceived this as a ceremonious win for the Troubles Asset Relief Program, and interpreted it as an indication that the bailed... More of this article »
CIT Group (NYSE: CIT) Clear Bankruptcy Hurdle, Deal With Creditors Approved
On November 1st, CIT Group Inc. (NYSE: CIT) filed for bankruptcy protection in New York State Courts. In their press release at the time, the major lender to small and medium sized businesses noted they hoped to move out of court quickly,... More of this article »
Bank of Nova Scotia (NYSE: BNS) Posts Strong Results, Led By Investment Banking
While Investment Banking revenues have remained flat at most US firms, there has been an interesting development north of the border: the Bank of Nova Scotia (NYSE: BNS), the third largest bank in Canada posted it’s biggest quarterly... More of this article »
Bank of America (NYSE: BAC) Paying Back Tarp, Finds The Next CEO?
Ken Lewis, the embattled chief executive who is stepping down at the end of this month may have saved his best for last. Bank of America (NYSE: BAC) has taken a major step late today: they have announced that they will repay the $45... More of this article »
Bank of Japan Ready for Market Intervention?
As financial markets across the globe begin to regroup and find new direction, each country is seemingly taking steps to ensure the banking system does not collapse. The latest news comes out of Japan, where the governor of the Bank... More of this article »
Dubai Finds A White Knight, Banks Stocks to Rebound?
The US financial markets will open tomorrow amidst a flurry of incoming data. First, investors will seek to understand the sales numbers from Black Friday, the unofficial start of the holiday shopping season. Next on their plate will... More of this article »
How Would the House of Dimon Fare Without Him?
Last year, Steve Jobs got sick. Jobs, the Founder and CEO of Apple (NASD: APPL) is a known, respected leader. As soon as word of his illness spread, Apple stock promptly plummeted as investors doubted anyone could manage the firm the... More of this article »
Bank of America (NYSE: BAC) Cuts More Salaries
Bank of America (NYSE: BAC) continues to face the scrutiny of the White House pay czar, as the bailed out institution recently announced more pay cuts to the executive management team. Kenneth Feinberg has approved the compensation... More of this article »
Dubai Seeking Options Amidst Debt Collapse, Banks Await
Dubai is scrambling. Earlier this week, news broke that Dubai’s World Fund is on the brink of default on its massive debt, which sent bank stocks sinking as investors worried about potential exposure. Now, we learn that the ruler... More of this article »
Europe Bank Stocks Sink on Dubai Debt Exposure
In recent years, few economic stories have been as compelling as the growth in Dubai. Dubai, a prominent Middle East city-state had enjoyed significant expansion in GDP and employment, bucking the trends exhibited in the US and Europe.... More of this article »
Credit Cards Delinquency Rates Drop Unexpectedly
The credit card industry is highly cyclical, and American consumers in particular have become increasingly depending on using credit cards as a source of liquidity. The rate at which consumers pay these credit cards are an important... More of this article »
Loan Portfolios Weighing Down Bank Performance
Although the recession has technically ended and the financial markets have stabilized, that does not necessarily mean the banks are out of the woods just yet. The banking industry is now facing the next wave in the storm, souring... More of this article »
UBS (NYSE: UBS) Ratings Cut, Strength Questioned
On Thursday, Moody’s Investors Service cut various ratings on UBS (NYSE: UBS), citing significant challenges the company continues to face, in both the Investment Banking and Wealth Management businesses. This cut comes at a... More of this article »
JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon: Next Treasury Secretary?
Timothy Geithner’s reign as the Treasury Secretary has been rocky to say the least. Now, speculation is starting to emerge in regards to who his potential successors may be. Calls for his dismissal have been growing louder in recent... More of this article »
Bank of America’s (NYSE: BAC) Next CEO: Ken Lewis?
It is no secret that Bank of America (NYSE: BAC) is struggling to find it’s next Chief Executive. Earlier this year, Kenneth D. Lewis announced that he was planning to leave his position at the end of the year amid a storm of controversy.... More of this article »
Ohio Sues Moody’s, Standard & Poor’s, and Fitch Over Fund Losses
While much of the disdain of the banking industry in the last 12 months has been primarily aimed at banks, the scope now seems to be broadening. On Firday, the State of Ohio has filed a lawsuit against Moody’s Investor Services,... More of this article »
Lazar Ltd. (NYSE: LAZ) Appoints New CEO, Stays In-house
The transition from a known CEO to a new CEO can always be a harrowing experience for a firm. When that transition happens unexpectedly, it is even more challenging. When Bruce Wasserstein passed away unexpectedly in October of 2009,... More of this article »
On Deck: Bank of America (NYSE: BAC) House Oversight Committee Hearings
Timothy Mayopoulos was fired as general counsel by Bank of America (NYSE: BAC) in December 2008, but his insight did not end there. Mayopoulos is scheduled to testify before Congress for the first time on Tuesday as a House oversight... More of this article »
Bank of America’s (NYSE:BAC) CEO Search Hits Another Hurdle: Compensation
Bank of America (NYSE: BAC) continues to seek a new chief executive, but troubles appear at each turn. Now, it seems that a major hurdle in the search will be the ability to offer pay commensurate with the position. While the Bank... More of this article »
AIG (NYSE: AIG) CEO Staying At The Helm
AIG (NYSE: AIG) landed in the news again today, as we learn that Chief Executive Robert Benmosche tried to calm fears today that he was about to jump ship, with an open letter to employees announcing he was “totally committed to... More of this article »
TD Bank (NYSE: TD) Posts Record Results
TD Asset Management Inc., a subsidiary of TD Bank (NYSE:TD) and the manager of TD Mutual Funds, today reported long-term fund net sales totaling $624 million for the month, and money market fund net redemptions of $466 million. Assets... More of this article »