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Citigroup (NYSE: C) Still Too Big To Fail, Chairman Says
Citigroup (NYSE: C) is interwoven in the fabric of global finance, according to Citi Chairman Richard Parsons. Earlier this week the government announced plans to shed it’s remaining stake in the mammoth bank, which was as high... More of this article »
Bank of America (NYSE: BAC) Nears Capital Goal
Bank of America (NYSE: BAC) may have received a lot of bad press lately thanks to allegations of mishandling foreclosures, and the loss of top producers in certain lines of business, but there are some positive signs surfacing as well.... More of this article »
Citigroup (NYSE: C) Stock Heading to $5?
Citigroup (NYSE: C) stock has been stuck in a slump for nearly two years, after collapsing to historic levels following the sub prime meltdown and financial crisis. As the firm continues to stabilize and shed non-core assets, their... More of this article »
Bank of America (NYSE: BAC) Joins Shop of Former Citigroup (NYSE: C) Exec
It was not long ago that Todd Thomson was a rising start at Citigroup (NYSE: C), with some speculating that he would someday be it’s CEO – that is, until allegations arose of inappropriate activities including Maria Bartiromo and... More of this article »
JPMorgan Chase (NYSE: JPM) hires Ex Goldman Sachs (NYSE: GS) Exec For Investment Banking Unit
The financial sector continues to evolve and change at a rapid pace, and nowhere is this more evident that at JPMorgan Chase & Co. (NYSE: JPM). With the acquisitions of Bear Stearns and Washington Mutual, the firm continues to... More of this article »
JP Morgan Chase & Co. (NYSE: JPM) Suing Lehman Brothers Holdings Inc.
In a new twist on the post financial crisis banking sector, JP Morgan Chase & Co. (NYSE: JPM) is suing Lehman Brothers Holdings Inc. The lawsuit filed claims the failed investment bank engaged in “collusion and deception”... More of this article »
Is Bank of America (NYSE: BAC) Next on WikiLeaks Target List?
Earlier this week, WikiLeaks published thousands of cables of previously confidential government cables, leading to a broad market decline. Julian Assange, founder of WikiLeaks has become known for blockbuster data dumps that have... More of this article »
Former Citigroup (NYSE: C) Exec Starting Real Estate Investment Fund In India
Anyone that read Thomas Friedman’s “The World is Flat” has heard the case for India being the next mega market. Banks have noticed this too of course, by beginning to invest in the developing region, and trying to attract new... More of this article »
Citigroup (NYSE: C) Sold Reverse-Convertible Notes
According to regulatory filings, Citigroup (NYSE: C) has sold $104.2 million of reverse-convertible notes in two offerings. The securities pay set interest rates that are generally higher than those of corporate bonds. The risk lies... More of this article »
HSBC (NYSE: HBC) and JPMorgan Chase (NYSE: JPM) Turning Attention to Asia
Amidst a deep and severe recession in the US and Europe, banks have shifted their focus to grow onto the Asian market. Nowhere is this more evident than with HSBC (NYSE: HBC), the European banking leader who is moving their headquarters,... More of this article »
Put Options Gaining Momentum on UBS (NYSE: UBS)
Stock in Swiss bank UBS (NYSE: UBS) has been plummeting since Oct. 26, when it reported a stunning drop in investment-banking business. It rebounded briefly from that decline, made a lower high, and then collapsed. Now, it seems options... More of this article »
Stable Commodity Markets to Negatively Impact Traders at Goldman Sachs (NYSE: GS), JPMorgan Chase (NYSE: JPM), and Barclays Capital (NYSE: BCS)?
The commodity market is continuing it’s boom, which is somewhat of a surprise in light of global recessionary pressures. Prices remain high for most raw materials, while volatility stays low even amidst falling inventory levels.... More of this article »
Bank of America (NYSE: BAC), JPMorgan Chase (NYSE: JPM), and Wells Fargo (NYSE: WFC) Seeking to Increase Hotel Financing
Bank profitability was battered throughout 2008 and 2009 by loan loss reserves. As clients endured difficulty paying their debt obligations, the banks were left to write off many of these loans, and realize the losses in their P&L.... More of this article »
Unlocked Potential in Citigroup’s (NYSE: C) GTS Business
Citigroup (NYSE: C) has been trading at a discount to book value for quite a while, and has seen it’s stock price battered during and since the financial crisis of 2008. In the supermarket model that is Citigroup, disseminating which... More of this article »
Goldman Sachs (NYSE: GS) Retires More Debt
It seems that Goldman Sachs (NYSE: GS) is aggressively looking at their capital structure, as they have announced multiple plans this month to retire debt. A call provision allows a borrower to retire a bond before it’s maturity... More of this article »
Wells Fargo (NYSE: WFC) Donates to Bay Area Food Banks
As the holiday season quickly launches into full swing, firms sometimes take notice of those less fortunate, and Wells Fargo (NYSE: WFC) has decided to do something about it. The Bay area megabank has donated more than $250,000 to... More of this article »
Bank of America (NYSE: BAC) Suspends Foreclosures In Maine
Bank of America (NYSE: BAC) has been embroiled in a foreclosure mess for nearly two months. Multiple State Attorney Generals have filed suits or are currently preparing legislative action aimed at the foreclosure process and question... More of this article »
SEC Still At Odds With Goldman Sachs (NYSE: GS) and “Fabulous Fab”
The Securities and Exchange Commission has expanded its complaint against Goldman Sachs (NYSE: GS) trader Fabrice Tourre. The new allegations accuse Tourre of giving the company “substantial assistance” as it misled investors in... More of this article »
Banking Profits Rise in Q3 for JPMorgan Chase (NYSE: JPM), KeyBank (NYSE: KEY), and Others
Perhaps the tale of their demise has been greatly exaggerated. After all, can a ‘struggling’ industry really earn billions of dollars? The U.S. banking industry earned $14.5 billion during the third quarter, albeit declining... More of this article »
Banks Eager To Issue Dividends, Including Bank of America (NYSE: BAC), Citigroup (NYSE: C), and JPMorgan Chase (NYSE: JPM)
The large banks suspended dividends during the financial crisis, stemming cash outflows and shoring up their financial positions. Now that it seems the worst has passed, the banks are eager to declare dividends once again and hopefully... More of this article »
Wells Fargo (NYSE: WFC) Offering Consumers Tips To Thwart Identity Theft
The holiday shopping season is on the immediate horizon, with the unofficial start set to begin in just three days on Black Friday. Since consumers have spent more each year with the credit or debit cards for the past decade, Wells... More of this article »
Are Bank Closures on Tap for Citigroup (NYSE: C) and Bank of America (NYSE: BAC)? Meredith Whitney Thinks So
Meredith Whitney made a splash nearly three years ago predicting the demise of Citigroup’s (NYSE: C) dividend. In a recent report, she presents a dismal view of the future for profit strapped U.S. banks. Whitney expects 5,000... More of this article »
Goldman Sachs (NYSE: GS) Retiring Debt
A Call Provision allows a borrower to retire a bond before it’s maturity date. Strong companies tend to attach these to bond issuances, so that if interest rates fall they can retire the bonds, and re-issue during a more favorable... More of this article »