Banking industry
Centerview Partners, a small advisory firm, and Lazard, a publicly traded bank with a broader range of services, have emerged as the sole advisers to Kraft and Heinz in their $75 billion merger. This significant deal marks the growing prominence of boutique and independent investment banks in advising on big
Banking industry
In a significant market development on March 26, 2015, multiple analysts issued downgrades for a wide range of stocks across various industries. A total of 20 stocks were affected, with some facing severe downgrades in the form of sell ratings from reputable firms. The downgrades were spread across sectors, including
Banking industry
Tuesday's trading session saw a decline in U.S. stocks, with the S&P 500 down 0.4% and the Dow Jones Industrial Average lower by 0.7%. TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, attributed the market's weakness to
Banking industry
As the official Bank of America Chicago Marathon Charity Partner, the American Brain Tumor Association (ABTA) launches its endurance program, Team Breakthrough, to raise funds for brain tumor research and support patients and caregivers affected by brain tumors. Team Breakthrough invites running enthusiasts to register for a limited number of
Banking industry
The Federal Reserve has given the green light to major US banks to raise dividends and buy back shares, deeming them strong enough to withstand a major economic downturn. However, Bank of America was given conditional approval, while the US divisions of Deutsche Bank and Santander were rejected due to
Banking industry
Bank of America was the sole major U.S. bank to stumble in the second round of annual stress tests, initiated by the Federal Reserve. Despite this, the bank was allowed to submit a revised plan and announce a $4 billion share buyback, contingent upon addressing "weaknesses in certain
Banking industry
The Justice Department has announced that 952 service members and their co-borrowers are eligible to receive over $123 million in compensation for non-judicial foreclosures that violated the Service Members Civil Relief Act. The settlements with five of the nation's largest mortgage servicers, including JP Morgan Chase, Wells Fargo,
Banking industry
The U.S. Department of Justice announced today that under its settlements with five of the nation's largest mortgage servicers, 952 service members and their co-borrowers are eligible to receive over $123 million for non-judicial foreclosures that violated the Servicemembers Civil Relief Act (SCRA). The five mortgage servicers
Banking industry
The Federal Reserve's timetable for raising interest rates appears to be accelerating, as economists predicted a stronger-than-expected January jobs report would usher in a new era of sustained job growth. As a result, the KBW Bank Index surged on Friday, with all 24 lenders rising by the end
Banking industry
Investment research company EarningForecast.com has released earnings forecast research for six top stocks: Apple (AAPL), Alibaba (BABA), Stratasys (SSYS), Gilead Sciences (GILD), Cliffs Natural Resources (CLF), and Bank of America (BAC). The reports highlight key performance indicators, industry trends, and competitor analysis for each stock. Investors are encouraged to
Banking industry
The 2007 New York Marathon marked the beginning of a tumultuous era for Citigroup, as its chairman and CEO, Charles "Chuck" Prince, prepared to face the music. A report revealed that the bank would have to write down billions in leveraged and sub-prime loans, forcing Prince's
Banking industry
Deutsche Bank's recent report has seen the firm restate its hold rating on shares of Royal Dutch Shell Plc, further emphasizing the company's stability in the current market. This move follows other actions taken by the firm on various stocks, including downgrading InterContinental Hotels Group PLC
