Financial services
PayPro, Incorporated (OTC: PYPR) has announced that it is in discussions to enter into a joint venture agreement with a payroll provider, which would enable PayPro to offer turnkey payroll services nationwide. This move comes as the industry is estimated to be over $30 billion annually. In addition, PayPro is
Financial services
As early pioneers in India's offshore IT industry, General Electric and Citigroup are reconsidering their investments in the sector, sparking a larger trend of foreign investors seeking to extract value from their efforts. Citigroup's planned divestment of its 43% stake in I-flex Solutions, a company that
Financial services
Financial services and technology companies are reworking their advertising strategies to emphasize the safety and security of customers' data, capitalizing on growing consumer concerns following recent data breaches and crises. As a result, a new wave of advertising campaigns has surfaced, focusing on the theme of customer data protection.
Financial services
Stock futures in the US traded lower on Monday, July 18, 2005, as investors focused on earnings reports from major banking firms, including Citigroup Inc., Bank of America Corp., and MBNA Corp. The Dow Jones futures index fell by 26 points, while Nasdaq futures declined by 5.5 points and
Financial services
As identity theft continues to plague consumers, experts are identifying a surprising culprit behind the security breaches: human error and intentional data theft by employees rather than sophisticated hackers. In a recent interview, commentator Paul Ford highlights the importance of addressing human behavior in protecting personal data. The Federal Trade
Financial services
Banc of America Securities (BofA) took the top spot in US high yield corporate debt issuance for the first half of 2005, surpassing JPMorgan and Citigroup after a strong second quarter performance. With $6.2 billion in proceeds, BofA finished the quarter strong, issuing a significant amount compared to the
Financial services
DataTreasury Corporation, a Long Island-based payment processor, has filed patent-infringement lawsuits in the U.S. District Court for the Eastern District of Texas against four major banks: Bank of America, Citigroup, Wachovia, and Wells Fargo. The lawsuits allege that these banks infringe on two patents held by DataTreasury, which describe
Financial services
Connecticut Insurance Commissioner Susan F. Cogswell has approved MetLife Inc.'s acquisition of Travelers Insurance Co. and Travelers Life & Annuity Co. from Citigroup Inc. with certain conditions. The approval is subject to MetLife and Travelers' compliance with their commitments outlined in the proposed final decision and their
Financial services
Citigroup has taken a significant step in its efforts to gain a foothold in the mainland market by participating in a beauty contest held in Beijing to select underwriters for the planned US$5 billion international share offer by Bank of China (BOC). The development comes as a blow to
Financial services
Bank of America has announced a massive $35 billion merger with MBNA Corporation, a move that will see the nation's third-largest bank become an even more formidable player in the financial community. In this deal, Bank of America is set to acquire MBNA's strong credit card
Financial services
Crude futures have surged to $60 per barrel, benefiting from concerns that supplies may not meet strong demand, while airlines have slipped due to rising jet fuel prices. Meanwhile, orders for U.S.-produced durable goods increased 5.5% in May, driven by higher demand for new airplanes. Boeing reported
Financial services
UBS is in confidential talks to acquire a multi-million dollar stake in Bank of China, the country's third-largest lender, as part of its bid to secure a coveted advisory role for the bank's USDollars 3bn-USDollars 4bn overseas listing. The move comes as global banks, including Deutsche
