Latest news on ‘Financial Services’
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American Express 4th-qtr profit leaps 49 percent
NEW YORK (AP) — American Express Co. on Monday said its fourth-quarter profit rose 49 percent, as its customers spent more and got better about paying their bills.
The card issuer [...] -
AIG Says Benmosche Expects To Continue As CEO For 12-18 Months
WSJ – American International Group Inc. (AIG) Chief Executive Robert Benmosche expects to remain in his current role for the next 12 to 18 months following an “encouraging prognosis” from [...]
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Citi Stock Slumps on Earnings, Revenue Miss
NEW YORK (TheStreet) — Citigroup (C_) shares were down sharply in on Tuesday after the bank released fourth-quarter earnings that fell far short of Wall Street expectations.
Citi earned just half [...] -
Wall Street falls as ruling hurts bank shares
Reuters – Stocks fell on Friday as bank shares lost ground after a Massachusetts court ruling against Wells Fargo and US Bancorp in which two home foreclosures were voided.
The Supreme [...] -
Hancock Holding to Buy Whitney for $1.5 Billion
WSJ – NEW YORK—Hancock Holding Co. will purchase Whitney Holding Corp. in a $1.5 billion all-stock deal that combines two Gulf Coast banks that have risen and fallen with the [...]
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Royal Bank Of Canada Loses Triple-A Rating Status On Capital Markets
TORONTO (Dow Jones) – Royal Bank of Canada (RY), Canada’s largest bank by assets, lost its coveted triple-A credit rating status Monday after Moody’s Investors Services Inc. dropped it to [...]
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Buffett Takes BNY Mellon Stake, Adds to Wells Fargo Holding
Bloomberg – Warren Buffett’s Berkshire Hathaway Inc. disclosed a stake in Bank of New York Mellon Corp. and increased its holding in Wells Fargo & Co. as the lender posted [...]
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Fannie Mae Seeks $2.5 Billion in U.S. Treasury Aid Amid Narrowing Losses
Bloomberg – Fannie Mae, the mortgage-finance company operating under federal conservatorship, sought $2.5 billion in U.S. Treasury Department aid after reporting a 13th straight quarterly loss.
Fannie Mae, which reported a [...] -
AIA’s IPO pricing boosts AIG turnaround plan
SAN FRANCISCO (MarketWatch) — American International Group Inc. said Friday that the initial public offering of Asian unit AIA Group Ltd. will generate nearly $18 billion, giving a big boost [...]
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Goldman Sachs 3Q Net Down 40%, But Shares Up
NEW YORK (Dow Jones) – Goldman Sachs Group Inc.’s (GS) third-quarter earnings declined 40%, less than had been feared, as the giant investment bank’s revenue fell 27%.
Investment banking results helped [...]
