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Morgan Stanley (NYSE:MS) Chooses Martin Agency for $40 Million Advertising Account
Morgan Stanley (NYSE:MS) has named Martin Agency as their new lead agency, replacing Ogilvy & Mather, who formerly held the top ad position since October 2005. Several companies entered the final round to determine who would represent... More of this article »
Increased Shorting of Bank of America (NYSE:BAC) and Citigroup (NYSE:C) on Treasury Auctioning Warrants
There can be no doubt the recent interest in shorting Bank of America (NYSE:BAC) and Citigroup (NYSE:C) has come from the upcoming auction of warrants in the companies from the Treasury Department. When these banks, and others, received... More of this article »
Wells Fargo (NYSE:WFC) and JPMorgan Chase & Co. (NYSE:JPM) Part of $225 Million USEC (NYSE:USU) Credit Deal
Nuclear energy is back as a growth industry, and in preparation for the numerous nuclear projects in the pipeline, USEC (NYSE:USU) has secured a new line of credit with Wells Fargo (NYSE:WFC) and JPMorgan Chase & Co. (NYSE:JPM)... More of this article »
Bank of America (NYSE:BAC) CEO Brian Moynihan Will Vote for Barney Frank in Upcoming Election
In a recent television interview, Bank of America (NYSE:BAC) Chief Executive Officer Brian Moynihan stated he will vote for Barney Frank in the upcoming election he faces, saying he liked how he handled both banking and consumer challenges... More of this article »
Citibank (NYSE:C) Analysts Concerned Over East African Politics and Effects on Economies
There’s no doubt politics plays a part in all countries, but when you extend it to emerging markets, it’s even more important, and that has raised concerns from Citibank (NYSE:C) analysts who are looking at a number of... More of this article »
HSBC (LON:HSBA) Says Investment Banking Profits to Surge
The investment banking unit of HSBC (LON:HSBA) has grabbed a good chunk of business from its competitors during the economic crisis, and consequently should generate profits of about $6 billion annually on a regular basis, according... More of this article »
Citigroup (NYSE:C) Projects $600 Million in Losses from New Credit Card Laws
With the official implementation of the Credit CARD Act last week, it has caused companies like Citigroup (NYSE:C) to prepare their shareholders for expectant losses as the consequence of the Act, which Citigroup says will probably... More of this article »
Goldman Sachs (NYSE:GS): Chile Earthquake to Dampen 2010 GDP Growth
The devastation from the earthquake in Chile will cause economic expectations in the country to be revamped as it attempts to pull out of the global recession in 2010, said Goldman Sachs (NYSE:GS). This isn’t what the new conservative... More of this article »
Wells Fargo (NYSE:WFC) Senior Economist: “Growth is going to be much more dependent on the private sector”
The recent disastrous economic reports for the U.S. Labor Department and Commerce Department confirmed the economy in the U.S. is far from turning around, and in fact the data show it’s struggling to wean itself form government... More of this article »
Bank of America (NYSE:BAC) Pays Thomas Montag $29.9 Million in 2009
Bucking against the executive-pay grain, Bank of America (NYSE:BAC) raised a few eyebrows when they announced they had paid president of their global banking and markets unit, Thomas Montag, $29.9 million in 2009, diverting from the... More of this article »
J.P. Morgan (NYSE:JPM): Passing Funding Costs to Borrowers
At a recent conference for investors in J.P. Morgan Chase (NYSE:JPM), Jes Staley, investment bank chief executive officer at the company, talked of concerns over the increasing cost of fixed income trading, whereby he said if increased... More of this article »
Why is Bank of America (NYSE:BAC) Stock Rising?
In light of the ongoing recession and continual bad economic news emerging from the Labor Department and Commerce Department, it’s definitely puzzling as to why Bank of America (NYSE:BAC) has become one of the investment darlings... More of this article »
Goldman Sachs (NYSE:GS) Questioned on Build America Bonds Underwriting Fees
Goldman Sachs (NYSE:GS) has come under fire concerning another issue as Senator Charles E. Grassley, the senior Republican on the Finance Committee, asked in a letter to Chief Executive Lloyd C. Blankfein about the underwriting fees... More of this article »
Wells Fargo (NYSE:WFC) Looking to Investment Banking Unit for Growth
With a lot of past revenue and profits being dried up through new government regulations, major banks are looking for other sources of revenue, and with Wells Fargo (NYSE:WFC), like many other major banks, investment banking could... More of this article »
Bank of America (NYSE:BAC), Citibank (NYSE:C) and J.P. Morgan (NYSE:JPM) Looked to as Lending Plunges at Banks
As reports come in that bank lending is at its lowest levels in decades, the major banks like Bank of America (NYSE:BAC), Citibank (NYSE:C) and J.P. Morgan (NYSE:JPM) are being pressured to take up some of the slack left from struggling... More of this article »
J.P. Morgan (NYSE:JPM) Says Increased Regulation Could Crush Revenue in 2010
As lawmakers continue to interfere with the market and banks, it is becoming increasingly clear that large financial institutions like J.P. Morgan (NYSE:JPM) and its shareholders will suffer revenue and profit declines as a consequence... More of this article »
Bank of America (NYSE:BAC) Hires Merrill Lynch Veterans for Investment Banking Unit
With new regulations cutting into revenue and profits at large banks, it looks like Bank of America (NYSE:BAC) and others are responding by putting more of an emphasis on the investment banking side of the business, which has been... More of this article »
Morgan Stanley (NYSE:MS) Continues Top Management Shuffle: Chief Legal Officer Gary Lynch Stepping Down
New Morgan Stanley (NYSE:MS) chief executive officer James Gorman has been consistently working on putting his own team in place since his installment on January 1, and that continues as chief legal officer Gary Lynch announced he’ll... More of this article »
Bank of America (NYSE:BAC) Finally Gets Approval for SEC Settlement
U.S. District Judge Jed S. Rakoff has been unusually antagonistic toward Bank of America (NYSE:BAC) in their attempt to settle a lawsuit from the Securities and Exchange Commission (SEC) over allegedly not fully disclosing bonuses... More of this article »
Rising Bank Failures Bad Sign for Bank of America (NYSE:BAC), Citigroup (NYSE:C) and Wells Fargo (NYSE:WFC)?
The news keeps getting worse for the banking industry, as recent data released show that it isn’t just the expected commercial loans that are faltering, but the number of foreclosures are finally being reported in a way that... More of this article »
Citibank (NYSE:C) Increasing its Footprint in India
Citibank (NYSE:C) recently said they’re looking at increasing their investment in India, which would even further their lead as far as the largest foreign investor in the country concerning the financial services industry. While... More of this article »
Morgan Stanley (NYSE:MS) Close to Selling Stake in China International Capital Corp. (CICC)
After a number of years battling for a larger say in some of the strategies of China International Capital Corp. (CICC), and fighting over whether or not they had exclusive right to partner with the large Chinese investment bank concerning... More of this article »
Goldman Sachs (NYSE:GS) Fighting Shaw Communications (NYSE: SJR) over 2007 Shareholders Agreement
The bankruptcy of Canwest Global Communications Corp. left Goldman Sachs (NYSE:GS) with little control over its ownership agreement with the company concerning 13 Canadian cable channels after Shaw Communications (NYSE: SJR) was given... More of this article »