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Citigroup (NYSE:C) Has Option to Veto any EMI (LSE:EMI) Licensing Deal
In need of a significant cash infusion, EMI Group (LSE:EMI) has been throwing around the idea of licensing its music to the North American market, which could raise up to $597.9 million for the struggling music company, owned by Terra... More of this article »
Bank of America (NYSE:BAC) Economist Says Reserve Bank of India Ready to Raise Rates 25 BPS
Bank of America (NYSE:BAC) economist Indranil Sengupta stated the Reserve Bank of India will increase its rates at its next policy meeting in April by 25 basis points, adding on to the surprise increase in rates a few days ago, which... More of this article »
Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) Will Fight Financial Reform
Similar to the health care bill, financial reform promises to be a battle as well with giant banks like Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Wells Fargo (NYSE:WFC) and Citigroup (NYSE:C) ready to go to war. The... More of this article »
Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM), Morgan Stanley (NYSE:MS) Have Estimates Lowered by Goldman Sachs (NYSE:GS)
A number of financial stocks were down today after Goldman Sachs (NYSE:GS) lowered estimates for a number of them, including Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM) and Morgan Stanley (NYSE:MS). Goldman based lowering... More of this article »
How Bad Really Were Bank of America (NYSE:BAC), Citigroup (NYSE:C), Wells Fargo (NYSE:WFC), JPMorgan (NYSE:JPM)? – We are going to find out!
A federal appeals court ruled today that the Federal Reserve must release information concerning which financial institutions may have collapsed if they hadn’t intervened with bailing them out. Bank of America (NYSE:BAC), Citigroup... More of this article »
Bank of America (NYSE:BAC), JPMorgan Chase (NYSE:JPM) Dismiss Bankruptcy Appeal of Charter Communications
An appeal by Bank of America (NYSE:BAC) and JPMorgan Chase (NYSE:JPM) concerning the bankruptcy confirmation concerning Charter Communications has been agreed to be dismissed in New York. The agreement to dismiss the pending appeal... More of this article »
Treasury Hides Citigroup (NYSE:C) Executive Names Connected to Bailout Negotiations
Names of the executives connected to negotiations between Citigroup (NYSE:C) and the Treasury Department over terms of the 2008 bailout were hidden in order to protect them from potentially being “harassed.” When Bloomberg... More of this article »
Hartford Financial Services Group (NYSE:HIG) Selling Bonds to Repay TARP
Hartford Financial Services Group (NYSE:HIG) announced it will sell $1.1 billion in bonds and another $1.95 billion in preferred and common stock in order to pay back the $3.4 billion in TARP funds it received from the Treasury Department. Capital... More of this article »
First American Sued by Bank of America (NYSE:BAC) Over Claims of ‘Lien Protection’
The lawsuits continue to fly in reference to the banking industry, as everyone is trying to recoup losses from the ongoing mortgage debacle which still has a long way to go before they’re purged from the system. The latest Lawsuit... More of this article »
Morgan Stanley (NYSE:MS) and Citigroup (NYSE:C) Request to Change 2003 Firewall Agreement Denied by Judge
A legal agreement between Morgan Stanley (NYSE:MS), Citigroup (NYSE:C) and the Securities and Exchange Commission created a firewall which separated the investment banking units of the companies form research analysts. A request to... More of this article »
Bank of America (NYSE:BAC), Citigroup (NYSE:C), HSBC Holdings Plc NYSE:HBC), and ING Groep NV – Managing Sale of Mexico Peso Bonds
Bank of America (NYSE:BAC), Citigroup (NYSE:C), HSBC Holdings Plc, ING Groep NV have been hired by Mexico to manage its offering of peso bonds which will be linked to inflation. The bonds will mature in 30 years. The bonds will be... More of this article »
J.P. Morgan Chase (NYSE:JPM) Settlement with Lehman Brothers Approved by Judge
J.P. Morgan Chase (NYSE:JPM) and Lehman Brothers Holdings received approval from a judge for the settlement agreement between the two companies. Per the agreement, J.P. Morgan will receive cash and collateral from Lehman Brothers while... More of this article »
Citigroup (NYSE:C) Spinning Off Insurance Unit, Primerica Files for IPO of $252 Million
Citigroup (NYSE:C) has made the decision to focus on and keep only those assets connected to their core banking business, and their latest divestiture will be their life insurance unit – Primerica. The life insurance unit has... More of this article »
Bank of America (NYSE:BAC) Seeking Approval to Sell More Products in China
With North America as a growth market largely over, multi-national banks like Bank of America (NYSE:BAC) are targeting emerging markets as their engine of growth, with China being one of the key markets. Bank of America, while now... More of this article »
J.P. Morgan (NYSE:JPM): Emerging Market Countries, Companies, Issue Half of Bonds in 2010
J.P. Morgan (NYSE:JPM) estimates that half of the bonds issued so far in 2010 have been issued by emerging-market countries, generating a total of $55 billion so far for the quarter, with estimates it could reach over $60 billion for... More of this article »
Citigroup (NYSE:C) Spends $1.25 million on Lobbying Government
In a move to influence government decisions concerning potential regulations related to the banking industry, Citigroup (NYSE:C) spent about $1.25 million on lobbying during the fourth quarter. While a significant amount, it was slightly... More of this article »
Bank of America (NYSE:BAC) Survey Shows Fund Managers Moving Back into Equities
A Bank of America (NYSE:BAC) survey of fund managers around the world for the month of March revealed they are starting to believe in equities again and are looking to the United States more than Europe as the place to invest their... More of this article »
Goldman Sachs (NYSE:GS) In Long-Term Horizon to Repair its Reputation
It took many years for it to happen, but the collapse of the banking system and resultant recession provided the environment for pent up anger and endless negative press coverage to take its toll on Goldman Sachs (NYSE:GS). And while... More of this article »
Morgan Stanley (NYSE:MS) Launches Coverage of Ironwood Pharmaceuticals (NASDAQ:IRWD), Resumes Coverage of Kraft Foods (NYSE:KFT)
Morgan Stanley has started covering Ironwood Pharmaceuticals (NASDAQ:IRWD), and its first rating was an “overweight” with a price target of $19. The primary drug being developed, which will determine much of its near term... More of this article »
JPMorgan (NYSE:JPM) and FDIC Settle with WaMu for $6 Billion
[Update] – As several commenters have pointed out, the proposal is pending legal approval from the court, which is uncertain. The legal battle between JPMorgan (NYSE:JPM) and FDIC against the estate of WaMu had gotten down... More of this article »
U.S. Bancorp (NYSE:USB), New York Community Bank (NYSE:NYB) and PNC Financial Services (NYSE:PNC) Strongest Among Regional Banks Says Fitch
The market seems to have factored in most negative elements in relationship to the major banks, but there is a lot to come this year for regionals, and the strongest of them at this time according to Fitch ratings include U.S. Bancorp... More of this article »
Investors Continue to be Bullish on Goldman Sachs (NYSE:GS)
The populist uprising against Goldman Sachs (NYSE:GS) has done little to deter the bullish attitude of investors toward the company, and they continue to pour money into the financial institution, as confidence they’ll continue... More of this article »
IPO Market Hot This Week for Bank of America (NYSE:BAC) and Wells Fargo Corp. (NYSE:WFC), JPMorgan Chase & Co. (NYSE:JPM) and Morgan Stanley (NYSE:MS)
The big banks are enjoying a good week for IPOs, as almost all of them were involved with two ocean shipping companies – Baltic Trading and Crude Carriers, and also health sciences company Aveo Pharmaceuticals, Bank of America... More of this article »