Banks (Finance)
As the third-largest issuer of Visa credit cards, Capital One Financial Corp. continues to struggle with credit card quality deterioration and payment failures, exacerbating concerns about the company's financial stability. According to Securities and Exchange Commission (SEC) filings, Capital One's net annual charge-off rate rose to
Banks (Finance)
The U.S. Treasury's pay czar, Kenneth Feinberg, is set to announce new rules on executive pay at seven firms that have received government support through the Troubled Asset Relief Program (TARP). The main goal is to control excessive pay to enable the bailed-out firms to repay government
Financial services
StockPreacher.com has made trade alerts on stocks making news available to investors. The daily updates are free to view on the StockPreacher.com website. The alerts include breaking news, insider activity, recent 52-week highs and lows, technical breakouts, and other market-driving information. The company aims to provide a balanced
Financial services
The optimism in Wall Street has been driven by recent announcements from major financial institutions, including Bank of America, Citigroup, and JPMorgan, which have all reported returns to profit since the beginning of 2009. The Dow Jones index has surged 240 points to 7170, with investors finding comfort in the
Financial services
As the economic downturn continues to ravage the financial industry, several major banks are feeling the pinch, with dividend cuts becoming a harsh reality. JPMorgan Chase & Co. (NYSE: JPM) recently announced a reduction in its quarterly dividend from 38 cents a share to 5 cents a share, a move
Financial services
U.S. stocks continued their downward trend on Monday, with major technology companies like IBM and Apple Inc. experiencing significant losses. IBM shares fell 1.7 percent, while Apple Inc. declined by 3 percent during midday trading. However, bank stocks showed a glimmer of hope, with Citigroup Inc. shares rising
Financial services
StockPreacher.com has made daily trade alerts available to investors, featuring a selection of stocks making headlines. The alerts include brief analyses of stocks such as Sony Corporation, Citigroup, Inc., and General Electric Company, combining breaking news, insider activity, 52-week highs and lows, technical breakouts, and other market-driving information. The
Financial services
U.S. stocks suffered significant losses on Wednesday, January 14, 2009, as a more-than-expected drop in retail sales and downbeat outlooks for big banks raised concerns about the nation's economy. The tumbing banking sector led the Standard & Poor's financial index down 4.9 percent, with
Financial services
The decision by Morgan Stanley to spin off its Discover credit card division highlights the ongoing theme in the financial services industry that big players need to shed noncore units to boost profitability and shareholder value. Investors have long considered credit card businesses a drag on the parent's
Financial services
Shares in ICBC soared by the daily limit of 9.9 per cent to close at 5.21 yuan on the Shanghai Stock Exchange, valuing the firm at US$214.2 billion. This surge propelled ICBC to become the world's third-largest bank by market value, surpassing HSBC Holdings.
Financial services
Singapore's Blackstone Group and Indian mobile phone operator Reliance Communications have asked banks, led by Citigroup and UBS, to finance a buyout of Hutchison Essar, valuing the Indian cellular operator at nearly $15 billion. The proposed acquisition would be the largest deal in India's wireless market,
Financial services
Tenet Healthcare Corporation, a leading operator of acute care hospitals and related healthcare services, has announced the completion of the syndication of its previously announced $800 million, 5-year senior secured revolving credit facility. Jointly led by Citigroup as the administrative agent and Bank of America as the syndication agent, the
