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General Electric (NYSE: GE) Denies that NBCU CEO is Stepping Down
General Electric Co. (NYSE: GE) denied a report published on Wednesday that NBC Universal CEO Jeff Suzker has reached a deal to step down from the company after Comcast’s acquisition of a controlling stake in the media giant... More of this article »
Ford (NYSE: F) to Offer Free In Home Charging Stations to EV Buyers
Ford Motor Co. (NYSE: F) announced on Wednesday that it will provide nearly 5,000 in-home charging stations for buyers of the 2011 Ford Transit Connect Electric. Ford said that it would be partnering with Coulomb Technologies to offer... More of this article »
JPMorgan Chase & Co. (NYSE: JPM) CEO Optimistic About Financial Reform
JPMorgan Chase & Co. (NYSE: JPM) CEO Jamie Dimon is optimistic that financial reform is headed generally in the right direction, he commented during Japan Society’s Annual Dinner in New York. “We’ll end up with... More of this article »
General Electric Co. (NYSE: GE) to Base R&D Center in Brazil
General Electric Co. (NYSE: GE) has announced that it will base its fifth research and development center in Brazil because of its geographical advantages, tax breaks and opportunity to receive government contracts to help develop... More of this article »
Bank of America Corp (NYSE: BAC) Lowers GDP Forecast for Russia
Bank of America Corp (NYSE: BAC)’s Merrill Lynch division has lowered its estimate of Russian GDP growth from 7.0% to 5.5% in a research note, the first forecast of declining GDP growth in Rusia among analysts. The analysts said... More of this article »
Hewlett Packard (NYSE: HPQ) To Slash 9,000 Jobs In Enterprise Service Business
Hewlett Packard (NYSE: HPQ) announced Tuesday that it will eliminate 9,000 jobs from its enterprise service business as it reinvests in automating the unit. The world’s largest PC maker plans to take charges of about $1 billion over... More of this article »
Woman Sues Google for Bad Walking Directions (NASDAQ: GOOG)
Lauren Rosenburg, of Park City, UT, said that she used her BlackBerry to get walking directions from her Google Maps application to get directions to her destination. Rosenburg said that she was hit by a car after following the application’s... More of this article »
Ford Motor Co. (NYSE: F) Predicts 11.1 Million Vehicle Sales Annually in May
Ford Motor Co. (NYSE: F) chief sales analyst said in a recent interview that he believes the U.S. auto industry’s annualized sales will hit 11.1 million in the month of May, which would be the third consecutive month above the... More of this article »
Wells Fargo & Co. (NYSE: WFC) Submits High Bid for Makena Beach & Golf Resort.
Wells Fargo & Co. (NYSE: WFC) submitted the high bid of $55 million at an auction on Friday for the purchase of Makena Beach & Golf Resort. The San Francisco-based bank is the trustee of a group of lenders which are owed more... More of this article »
11,000 Call Options Purchased on General Electric (NYSE: GE)
General Electric Co. (NYSE: GE) shares traded lower on Friday by 1.86% and ended the day at $16.35. Shares of the conglomerate have been declining during the last several weeks, but have recently rebounded off its historical support... More of this article »
DOJ Expands Investigation of Apple (NASDAQ: AAPL) to Apps, Other Services
The U.S. Department of Justice’s investigation into how Apple (NASDAQ: AAPL) conducts its business operations in the music industry is reportedly expanding to several of the other electronics makers’ offerings, potentially... More of this article »
Ford (NYSE: F) Forced to Recall 236,000 Sedans
Ford Motor Co. (NYSE: F) and two of its partners, Chongqing Changan Automobile Co (000625.SZ) and Japan’s Mazda Motor (7261.T), has had to recall more than 236,000 sedans in China after reports that the vehicles have a defect... More of this article »
J.P. Morgan Chase (NYSE: JPM) Figures to be Biggest Loser With New Derivatives Proposal
A proposal gaining ground on Capitol Hill to force banks to spin off their derivatives-trading operations would represent a severe blow to one of Wall Street’s most profitable businesses. Passage would represent a particular... More of this article »
The Case for Streamlined Banks. Wells Fargo and Co. (NYSE: WFC) Puts up High Average Return on Equity
As Congress mulls over a financial reform bill, it may be the banks themselves that are providing the road map. The argument: it’s not the size that matters. It’s the complexity. Wells Fargo & Co. (WFC) does not have a large... More of this article »
Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC) and JP Morgan Chase (NYSE:JPM) Will be Downsized if Liberal Democrats Get Their Way
A group of liberal Democratic senators are seeking to broaden the regulations concerning big banks, as they’ve introduced legislation to limit the size of banks in the United States, of which only Bank of America (NYSE:BAC),... More of this article »
SEC Files Fraud Charges Against Goldman Sachs (NYSE: GS)
The Securities and Exchange Commission filed charges against Goldman Sachs Group Inc (NYSE: GS) on Friday, accusing the Wall Street firm of defrauding investors in a sale of securities tied to subprime mortgages. The SEC announced... More of this article »
Bank of America (NYSE:BAC) Mortgage Picture Not Looking Pretty Says President of Home Loans
In her testimony before the House Financial Services Committee today, which assembled to find out where the bank is in regard to modifying mortgages in trouble, president of Bank of America Home Loans, Barbara Desoer, didn’t... More of this article »
Citigroup (NYSE: C) Says Mexico Debt to be Listed in World Government Bond Index
Citigroup (NYSE: C) said that Mexico’s bonds are eligible to be included in the New York-based bank’s World Government Bond Index in an emailed statement on Wednseday. Mexico “satisfies all three World Government Bond... More of this article »
Morgan Stanley (NYSE: MS) To Win Big in Government Sale of Citigroup (NYSE: C) Shares
Investment banking giant Morgan Stanley (NYSE: MS) will be a significant beneficiary in the US government plan to sell off its stake in Citigroup (NYSE: C) over the course of 2010. A contract between Morgan Stanley and the Treasury... 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 »
Citibank (NYSE: C), Bank of America (NYSE: BAC) and Others to Face Trouble from New Mark-to-Market Rules
The Financial Accounting Standards Board is likely to propose that banks expand their use of market values for financial assets such as loans, impacting up to $2.8 trillion in assets at Citibank (NYSE: C), Bank of America (NYSE: BAC),... More of this article »
U.S. Treasury May Divest itself from Citibank (NYSE: C) Starting Next Week
Citibank (NYSE: C) CEO Vikram Pandit said that he “wouldn’t be surprised” if the U.S. Treasury began winding down its 27% stake in Citigroup beginning next week. The U.S. Treasury owns 7.7 billion shares of the financial giant... More of this article »
JP Morgan (NYSE: JPM) to Provide Expanded Collateral Management Services to Canadian Government
(Business Wire) JP Morgan Worldwide Securities Services (NYSE: JPM) announced that it has been selected by the Government of Canada to provide an expanded set of collateral management services for derivatives. A derivatives collateral... More of this article »