Latest news on ‘Financial Services’
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Morgan Stanley slashing 1,600 jobs
NEW YORK (CNNMoney) – Adding to Wall Street’s job woes, Morgan Stanley announced Thursday that it plans to cut 1,600 positions in the first quarter.
The layoffs will impact “all job [...] -
Fed Data Shows Households Attack Mountain of Debt
Yahoo – The long slog continues. The feature of the post-crisis economy has been a two-speed recovery. As a group, companies have done extremely well. Corporate profits and cash holdings [...]
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Bank dumping days begin
NEW YORK (CNNMoney) – Customers are dumping their banks in droves ahead of the nationwide “Move Your Money” and “Bank Transfer Day” movements this Saturday.
Given the recent spotlight on attempts [...] -
Bank of America sells half of its China bank stake
NEW YORK (AP) – Bank of America Corp. is selling half of its stake in China Construction Bank Corp., aiming to shore up its capital base.
The largest U.S. bank by [...] -
BofA shares drop, debt insurance costs jump
CHARLOTTE, North Carolina (Reuters) – Bank of America Corp (NYSE:BAC – News) shares posted their steepest drop in 2-1/2 years on Tuesday as investors worried that the biggest U.S. bank [...]
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Capital One snags HSBC credit card business
The Washington Post – Capital One Financial announced Wednesday a $2.6 billion deal for the U.S. credit card portfolio of London-based HSBC Holdings, a move that would make the McLean [...]
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SocGen Denies Rumors About Credit as Shares Tumble
Bloomberg – Societe Generale (GLE) SA, France’s second-largest bank, denied “all market rumors” and asked the nation’s market watchdog for an investigation after speculation France’s creditworthiness was in doubt sent [...]
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Citigroup Net Down 32% As Revenue Falls
NEW YORK (Dow Jones) – Citigroup Inc.’s (C) first-quarter profit fell 32% as the company struggled to make the transition from recovery to growth.
Its consumer-banking operation struggled with declining revenue [...] -
Stuck in reverse: Split doesn’t fix Citi
NEW YORK (CNNMoney) – Citigroup will soon escape penny stock status. Shares of the beleaguered bank have, for the most part, been stuck below the $5 level for the better [...]
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B of A agrees to $410 million settlement
Associated Press – Bank of America is agreeing to pay $410 million to settle a lawsuit about overdraft fees.
A spokeswoman for the nation’s largest bank said Saturday that it is [...]
