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Morgan Stanley (NYSE:MS) Tops JP Morgan (NYSE:JPM), Goldman Sachs (NYSE:GS) in Mergers and Acquisitions for 2009
Advising on deals worth approximately $585 billion, Morgan Stanley (NYSE:MS) took over the No. 1 spot from JP Morgan (NYSE:JPM), and also beat out investment bank rival Goldman Sachs (NYSE:GS) in mergers and acquisitions deals for... More of this article »
Analysts Upgrade Morgan Stanley (NYSE:MS) on Continued Profits and Growth in Share Price
Analysts from Credit Suisse and UBS Securities upgraded Morgan Stanley (NYSE:MS) Monday based on expectations profits will continue to grow and the share price will move up in conjunction with that growth throughout 2010. Credit Suisse... More of this article »
Would Reinstatement of Glass-Steagall Improve Banking?
I’ve been a little surprised at the support by Congress to reinstate the Glass-Steagall Act. When US Senators John McCain and Maria Cantwell introduced the legislation, it seemed it was done more to get their names out there... More of this article »
Chinese Banks Thrive While Western Banks Dive
Banks in China have become the chief lenders in the global economy as Western banks continue to cut back on lending to practice a more defensive operational strategy in order to ride out the ongoing recession. Lending from Chinese... More of this article »
Goldman Sachs (NYSE:GS) Threatening to Sue Chinese Power Company ‘Shenzhen Nanshan Power’ for $80 Million in Contract Defaults
After a little over a year, Goldman Sachs (NYSE:GS) and Chinese Power Company ‘Shenzhen Nanshan Power’ haven’t been able to come to an agreement over to oil hedging contracts which Shenzhen defaulted on; a battle... More of this article »
Credit Card Default Rate at Bank of America (NYSE:BAC) 13 Percent Higher than Major Competitors
With losses in the Bank of America (NYSE:BAC) credit card division reaching an enormous $4.5 billion at the end of the first nine months of 2009, new CEO Brian Moynihan has his work cut out for him to turn things around in that unit... More of this article »
Citigroup (NYSE:C), Bank of America Corp. (NYSE:BAC) and Wells Fargo (NYSE:WFC) Among Top Five Stock Offerings by American Companies in 2009
After being bailed out by American taxpayers, American banks looked at how they could quickly pay back the funds and limit the interference the government would have in their companies. To that end, Citigroup (NYSE:C), Bank of America... More of this article »
BB&T Corp. (NYSE:BBT) Quietly Becoming One of Leading Banks in America
Although BB&T Corp. (NYSE:BBT) has received little recognition and press coverage through the years, that has now changed that it has been recognized as one of the top ten banks in the country. Much of the recent recognition has... More of this article »
Will it be a Happy New Year for Bank of America (NYSE:BAC) and Brian Moynihan?
When you look at what Brian Moynihan inherits with his role as CEO of Bank of America (NYSE:BAC) today, you do wonder whether the recent joke made by outgoing CEO Kenneth Lewis to employees about Moynihan, saying, “another unique... More of this article »
British Banking and Why the Enemies of Capitalism Won’t Prevail
The British seem to never learn, as the declining country could get far worse as one of its key industries – banking – is under attack from the socialists rampant in the country. When taking into consideration the extraordinary... More of this article »
Wells Fargo (NYSE:WFC) Awards Stock Bonuses Worth $25 Million to Top Executives
Wells Fargo (NYSE:WFC) announced on Thursday that its top four executives would receive stock bonuses worth approximately $25 million, although they were quick to add that no cash bonuses would be paid out for 2009. Chief Executive... More of this article »
Banks Targeting Debit Cards for Additional Revenue Stream
With the Credit Card Accountability, Responsibility and Disclosure (CARD) Act to be instituted in February 2010, banks are starting to look at other revenue streams, as over the long term revenue from credit cards will be a smaller... More of this article »
Small Banks Resisting Interference of Federal Reserve in Executive Compensation
Even though the U.S. government acknowledges the compensation given by small banks to their executives had nothing to do with the banking crisis, they continue to pursue a policy of interfering with small banks by writing up compensation... More of this article »
Alistair Not Jamie Dimon’s Darling, as Dimon Reconsiders Building European Headquarters in London’s Canary Wharf Financial District
A recent report from the London Telegraph has generated a lot of buzz and interest, as JPMorgan Chase & Co. (NYSE:JPM) CEO Jamie Dimon evidently called British Finance Minister Alistair Darling earlier in the month to let him... More of this article »
Bank of America’s (NYSE: BAC), Bank of New York Mellon (NYSE:BK) and Citigroup (NYSE:C) Leading Targets of Short Sellers in November and December
Bank of America’s (NYSE: BAC), Bank of New York Mellon (NYSE:BK) and Citigroup (NYSE:C) continue to be major target of short sellers among the large financial companies. Of all companies listed on the New York Stock Exchange,... More of this article »
JPMorgan Chase (NYSE:JPM), Barclays (LON:BARC) and Morgan Stanley (NYSE:MS) Among Those Interested in Royal Bank of Scotland (LON:RBS) Assets
A number of large banks and other companies unrelated to the financial industry have expressed interest in buying some assets of the Royal Bank of Scotland (LON:RBS), including JPMorgan Chase (NYSE:JPM), Barclays (LON:BARC) and Morgan... More of this article »
Federal Reserve Proposes ‘Term Deposit Facility’ to Withdraw Money from Banking System
On Monday the Federal Reserve put forth the idea of creating a new way to withdraw money from the banking system when the need to tighten money policy presents itself. Dubbed a term deposit facility, what it will do is allow banks... More of this article »
Re-branded IndyMac – OneWest Bank – Generates Huge Profits in First Year
After acquiring the assets of failed mortgage lender IndyMac from the federal government, investors in the company re-branded it OneWest Bank, and it has soared in profits since the year they took the lender over. OneWest paid about... More of this article »
Banning ‘Phantom Votes’ Gives Shareholders More Say in Who Will Be Bank Board Members
Voting for bank boards should definitely be a more interesting as new rules regarding “phantom votes” by the New York Stock Exchange will give shareholders more say in who ends up seated on the board. This will of course... More of this article »
Goldman Sachs (NYSE:GS) Files with U.S. Securities and Exchange Commission for New Exchange Traded Funds
Exchange traded funds are an increasingly popular investment sector, and to take advantage of the growing market, Goldman Sachs (NYSE:GS) has filed for regulatory approval with the U.S. Securities and Exchange Commission to launch... More of this article »
Citibank (NYSE:C) Ending Credit Card Financing for Struggling Zale Corp. (NYSE:ZLC)
With sales continuing to plunge for specialty jewelry retailer Zale Corp. (NYSE:ZLC), Citibank (NYSE:C) will no longer provide financing for the credit cards of the company as of March 2011. according to a regulatory filing at the... More of this article »
Wells Fargo (NYSE: WFC) Makes Final Payment on TARP Funds
Wells Fargo (NYSE: WFC) announced Wednesday that they’ve completely paid off the TARP funds it received from the federal government, which amounted to $25 billion. The U.S. Treasury acquired $25 billion of series D preferred... More of this article »
New Home Sales Plunge as Personal Income and Spending Fail to Meet Expectations
Many people were shocked to find that not only did new home sales on grow in number, but they plunged by a huge 11.3 percent to levels not seen since April. To show how bad the drop was, economists from Thomson Reuters were looking... More of this article »