Banking industry
The New York Attorney General's office has launched an investigation into eight major banks, including Goldman Sachs, Morgan Stanley, and Bank of America, over allegations they provided false information to ratings agencies about the quality of mortgage securities. At issue is whether the banks misrepresented the riskiness of
Banking industry
TBS International plc has secured amendments to its credit facilities and loan agreements with its syndicate of lenders and other financial institutions, addressing concerns over the company's ability to meet its financial commitments. The amendments modify the financial covenants and other terms of the Financing Facilities, including covenants
Banking industry
Britain's worst-run companies have been exposed in a new survey, with British Airways, Royal Bank of Scotland, and the owner of the Daily Mail emerging as the most hated brands. The Reputation Institute found that these companies, along with several others, have failed to recover from recent scandals,
Banking industry
The Bedford Report has released its latest Market Update, providing in-depth analysis on recent news and events affecting AT&T, Inc (NYSE: T), Toyota Motor Corp. (NYSE: TM), Teva Pharmaceutical Industries Ltd. (NASDAQ: TEVA), and Morgan Stanley (NYSE: MS). The report highlights the potential impact of financial reform on
Banking industry
Representative Ben Chandler's office released information regarding the Safe Accountable, Fair and Efficient (SAFE) Banking Act of 2010, a bill aimed at shrinking massive Wall Street banks to a safer and more manageable size. The legislation would not affect small banks but would target six extremely large financial
Banking industry
Regulators were divided over suing Goldman Sachs, leading to a decrease in concerns over increased bank scrutiny, causing a surge in Asian stock prices. Finance companies, such as Sumitomo Mitsui Financial Group, rose significantly in Tokyo after Morgan Stanley upgraded the nation's banks and Citigroup Inc. reported higher-than-expected
Banking industry
Global markets remained steady today despite concerns about the European debt crisis and the potential failure of Greece's $61 billion aid package. The calm is due in part to the release of better-than-expected earnings reports from a number of major corporations, including Bank of New York Mellon, Goldman
Banking industry
U.S. stock-index futures declined as Google's disappointing earnings overshadowed better-than-estimated profits at General Electric and Bank of America. Google's shares plummeted 4.6 percent after the company reported a first-quarter profit that fell short of some analysts' estimates. The tech giant's earnings
Banking industry
The Unusual Suspects are back this week, with Alcoa, Inc. kicking off earnings season on Monday. This week's earnings list also includes Bank of America Corporation, General Electric Co., Google Inc., Intel Corporation, and JP Morgan Chase & Co. Other notable stocks with news and events to watch
Banking industry
National Australia Bank (NAB) is expected to be one of three or more parties to lodge first-round offers tomorrow for 318 branches under auction by Royal Bank of Scotland (RBS). The sale is a result of billions of pounds in state aid given to RBS during the financial crisis. RBS
Banking industry
Virgin Money, a financial services group led by Sir Richard Branson, has secured a major investment from US turnaround specialist Wilbur Ross. The deal sees Ross acquiring a 21% stake in Virgin Money for £100 million, with plans to invest "hundreds of millions" more in acquisitions. This move
Banking industry
The latest market update from The Bedford Report provides in-depth analysis of recent news and events affecting Bank of America Corp., Microsoft Corp., Exxon Mobil Corp., and Walgreen Co. The report discusses how employment rates impact Bank of America's stock price, justifies Exxon's significant investment in
