Home » Author Archive
Goldman Sachs (NYSE:GS) Resumes Citigroup (NYSE:C) Coverage with Neutral Rating
On the resumption of their coverage of Citigroup (NYSE:C), Goldman Sachs (NYSE:GS) gave them a neutral rating, as growth in revenues and profit over the next year won’t be that impressive. Citigroup is primarily on the defensive... More of this article »
Morgan Stanley (NYSE:MS) Sole Book-runner on BSkyB (LON:BSY) Selling Stake in ITV Plc (LON:ITV)
8After several years of battling it out, BSkyB (LON:BSY) decided to toss in the towel and sell 10.4 percent of its stake in ITV Plc (LON:ITV) after Britain’s Court of Appeal time and time again rejected appeals from BSkyB to... More of this article »
Obama Unconvincing in Finding New Banking Bonus Religion – Doesn’t “Begrudge” Banking Compensation
As usual Barack Obama misread the mood of the public and his constant hammering of banking pay ended up backfiring, as people got fatigued from it all and the business community in general started to see Obama’s anti-business... More of this article »
Bank of America (NYSE:BAC) Appoints Co-leaders to Global Capital Markets Unit
A number of the big banks have been shuffling their people around in hopes of finding combinations which will help them generate more revenue and profits in the years ahead. Bank of America’s (NYSE:BAC) latest move has been to... More of this article »
Did Goldman Sachs (NYSE:GS) Help Greece Cook its Books?
An article in Der Spiegel asserts Goldman Sachs (NYSE:GS) helped Greece cover up the true depth of its debt situation through creative use of cross currency swaps which allowed Greece to be in much deeper debt than allowed under what... More of this article »
Goldman Sachs (NYSE:GS) Ramping Up its ETF Strategy
With exchange-traded funds (ETFs) being among the fastest growing segments in the financial industry, Goldman Sachs (NYSE:GS) has started to focus on looking to that segment for growth and expansion. The investment banking behemoth... More of this article »
Judge Rules Against Bank of America in $209 Million Cabi Downtown Case
Bank of America (NYSE:BAC) was dealt a blow in its $209 million case against Cabi Downtown over whether the firm filed Chapter 11 bankruptcy for the sole purpose from protecting them from foreclosure, which the banking giant and other... More of this article »
Does Wells Fargo’s (NYSE:WFC) Plans to Hire 1,000 Brokers Mean Growth or Maintaining Work Force?
The announcement that Wells Fargo (NYSE:WFC) will be adding 1,400 brokers to their work force on the surface seems to be a nod toward significant growth prospects and an aggressive expansion into the sector, but the reality is, according... More of this article »
Citigroup (NYSE:C) to Hire Another 1,000 Workers for Phillipines Market
Even though Citigroup (NYSE:C) overall has been a disaster during the economic crisis, with many of its underlying weaknesses exposed, that hasn’t been the case in its Philippines operations, where they have continue to perform... More of this article »
JPMorgan (NYSE:JPM) Raises Close to $700 Million for Movie Theaters to go Digital
Someone close to the situation said that J.P. Morgan Chase (NYSE:JPM) has raised around $700 million of the purpose of the largest theater chains in America to equip themselves with digital projectors and screens which can play movies... More of this article »
J.P. Morgan’s (NYSE:JPM) CEO Jamie Dimon Awarded $17 Million Stock Bonus
Based on the performance of J.P. Morgan Chase (NYSE:JPM) during the recession, where Chief Executive Officer Jamie Dimon led them to a profit every quarter, he was awarded with a bonus worth $17 million for 2009, none of it being... More of this article »
Will Bank of America (NYSE:BAC) CEO Ken Lewis Be the One to Take Down Ben Bernanke and Hank Paulson?
So far with the economic and banking fiasco in America, Ben Bernanke and Hank Paulson haven’t given much more than a slap on the wrist, while Bernanke was voted on to continue with his policies at the Federal Reserve which have... More of this article »
Citigroup (NYSE:C) Sued By ‘Guy Hands’ and Terra Firma Over Acquisition of EMI
Citigroup (NYSE:C) is being sued by the CEO of private equity firm Terra Firma in the deal where the bought EMI for what he is calling a ‘fraudulently inflated’ £4.2 billion. Numbers reported by the music giant last week... More of this article »
Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein Lands $9 Million Bonus for 2009
The Times of London is looking completely incompetent in the wake of the revelation that Goldman Sachs (NYSE:GS) CEO Lloyd Blankfein received a 2009 bonus of only $9 Million after leading the company to record profits. The Times asserted... More of this article »
Wells Fargo (NYSE:WFC) Now Offering Mobile Text Banking to All its Customers
Wells Fargo (NYSE:WFC) has rolled out its mobile text banking program to all its customers, making it the first bank or financial institution in America to offer the service to all its customers. Even if you’re not signed up... More of this article »
New York Attorney General Andrew Cuomo Files Securities Fraud Lawsuit Against Former Bank of America (NYSE:BAC) CEO Ken Lewis and CFO Joe Price
In a charges that many are scratching their heads about, New York Attorney General Andrew Cuomo, who seems to be positioning himself for moving up in politics, filed securities fraud charges against former Bank of America CEO Ken Lewis... More of this article »
Deutsche Bank AG (ETR:DBK) Profits Rise in Fourth Quarter
Deutsche Bank AG (ETR:DBK), the largest German bank, report fourth quarter profits had risen after record losses the year before, where the banking giant lost EUR 4.8 billion. Net profits rose to $1.8 billion for the quarter, surpassing... More of this article »
Bank of America (NYSE:BAC) Enters Settlement with Securities and Exchange Commission
Having had their original settlement with the Securities and Exchange Commission rejected by United States District Court judge Jed S. Rakoff, Bank of America (NYSE:BAC) announced it has now entered into a proposed settlement with... More of this article »
Volcker Plan Appears Dead as Volcker Stumbles Under Questioning
In what I have considered a waste of time from the beginning with no chance of ever becoming law, the so-called Volcker Plan appears dead after questioning Senate Banking Committee found Volcker unable to answer key questions which... More of this article »
Citibank NA (NYSE:C) and Bank of America (NYSE:BAC) Increasingly Paying More in Salary than Bonuses for Employees in India
With so much focus on compensation for bank employees, it has gravitated to a global issue, and different parts of the world are responding differently to the problem, as Citibank NA (NYSE:C) and Bank of America (NYSE:BAC) are doing... More of this article »
Bank of America (NYSE:BAC) Paid Out $4.4 Billion for Salary and Bonuses in 2009
An unnamed source close to the situation said that Bank of America (NYSE:BAC) awarded its people around $4.4 billion in salary in bonuses in 2009, averaging over $400,000 a worker. This is in the trading and investment banking business... More of this article »
Wells Fargo & Company (NYSE: WFC) Sets Goal of Doubling California Commercial Banking Activity in Five Years
With the goal of doubling its commercial banking activity in California in the next five years, Wells Fargo & Company (NYSE: WFC) added more responsibility to their top people through enlarging the number of territories they serve... More of this article »
Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC) Would be Devastated by Volcker Plan
I’m not sure why we’re even wasting our time with Paul Volcker and the so-called Volcker Plan, as there’s no way it’ll have a chance to become law, as it would devastate Bank of America (NYSE:BAC), JPMorgan... More of this article »