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Stock Market & Financial Investment News

News For C;BIDU From The Last 14 Days
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March 3, 2015
06:34 EDTCCiti confirms sale of OneMain Financial To Springleaf to $4.25B
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06:32 EDTCSpringleaf confirms acquisition of Citi's OneMain for $4.25B
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06:06 EDTCCiti upgraded to Overweight from Neutral at JPMorgan
JPMorgan upgraded Citigroup (C) to Overweight saying the Costco (COST) co-branding credit card deal announced yesterday will add to revenue growth and return on assets. Further, the firm expects the Federal Reserve to approve Citi's capital return in 2015 and for the banking giant to achieve its operating efficiency targets this year. It upped its price target for shares to $58 from $54. Citi closed Monday up $1.07 to $53.49.
05:37 EDTCSpringleaf close to buying Citi's OneMain for $4.25B, WSJ reports
Springleaf (LEAF) could announce as early as today a deal to acquire Citi's (C) OneMain Financial for about $4.25B, Wall Street Journal reports, citing people familiar with the matter. Reference Link
March 2, 2015
16:02 EDTCOptions Update; March 2, 2015
iPath S&P 500 VIX Short-Term Futures down 91c to 26.70. Option volume leaders: AAPL TSLA TWTR MBI MCD NFLX AMZN GOOG BAC C according to Track Data.
11:24 EDTCCiti CFO sees Q1 fixed-income, equity markets revenue declining, Reuters says
Citi CFO John Gerspach sees revenue from fixed-income and equity markets declining by mid-to-high single-digits in Q1 y/y due to the Swiss currency reevaluation and a "slow start" in spread products, reports Reuters, citing an investor conference. Reference Link
10:02 EDTCSantander names Scott Powell CEO of Santander Holdings USA
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08:11 EDTCCapital One slips after Costco enters co-brand card pact with Visa, Citi
Shares of Capital One (COF) are slipping in pre-market trading after Costco Wholesale (COST) announced it has entered into a new co-brand credit card program agreement with Citi (C) and an acceptance and co-brand incentive agreement with Visa (V). The Fly notes that on February 12 American Express (AXP) announced that its U.S. co-brand and merchant acceptance agreements with Costco are set to end on March 31, 2016. On October 1 of last year, MasterCard Canada (MA) entered into an agreement with Costco Canada to open credit card acceptance to MasterCard cardholders. In addition, Capital One rolled out a new cobranded MasterCard credit card with Costco Canada at that time, which may have led some to speculate that Capital One and MasterCard could have the inside track for a U.S. deal with Costco. In pre-market trading, Capital One shares slid 0.56% to $78.27 and MasterCard shares slipped fractionally lower to $90.
08:06 EDTCCostco enters long-term co-brand credit card agreement with Citi, Visa
Costco Wholesale (COST) announced it has entered into a new co-brand credit card program agreement with Citi (C) and an acceptance and co-brand incentive agreement with Visa (V). The implementation of these agreements is subject to the purchase of the existing co-brand credit card portfolio by Citi. Under the terms of the agreements, Citi, the world's largest issuer of consumer credit cards, would become the exclusive issuer of Costco's co-brand credit cards and Visa will replace American Express as the credit card network for Costco in the United States and Puerto Rico beginning April 1, 2016. Once issued, Costco's co-brand Visa credit card would provide generous rewards to Costco members, serve as the Costco membership card, and would be accepted at Costco locations in the United States and Puerto Rico, as well as all merchants worldwide that accept Visa credit cards. Costco will provide its members with additional information in the coming months regarding the anticipated transition from its existing co-brand credit card program.
08:06 EDTCCostco enters long-term co-brand credit card agreement with Citi, Visa
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07:50 EDTCCitigroup volatility elevated into stress test results
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06:16 EDTCCiti CEO, CFO may be pressured to leave if bank fails stress test, FT says
Citi is preparing for the results of the Federal Reserve's capital distribution stress test and if the bank were to fail, CEO Mike Corbat, CFO John Gerspach, and head of risk Brian Leach will be pressured by investors to step down, reports the Financial Times, citing two anonymous Citi executives. Reference Link
February 27, 2015
16:06 EDTCOptions Update; February 27, 2015
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10:45 EDTCBank of America falls after analyst warns of potential Fed test failure
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08:37 EDTCCiti likely to return 44% of 2015 earnings to shareholders, says Bernstein
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February 26, 2015
16:00 EDTCOptions Update; February 26, 2015
iPath S&P 500 VIX Short-Term Futures down 33c to 27.78. Option volume leaders: AAPL TSLA TWTR C ZNGA MCD RIG NFLX according to Track Data.
15:02 EDTCFed extends capital surcharge for SiFi banks comment period to April 3
The Federal Reserve extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies. The Fed extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 2. The proposed rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm's risk-based capital surcharge. The proposal is designed to further strengthen the capital positions of these institutions. Large U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
14:01 EDTCBarclays to double provision for forex rigging fines, Sky News says
Barclays (BCS), which previously excluded itself from a broader settlement between several banking peers and regulators over alleged manipulation of foreign exchange rates as it worked to secure a binding agreement with all relevant authorities, will more than double its existing provision for forex fines next week, which may indicate that a settlement deal could be announced soon, said Sky News. Barclay took a GBP500M charge during the course of last year in advance of expected forex issue costs, the report noted. Other banks that previously agreed to a settlement included Bank of America (BAC), Citibank (C), HSBC (HSBC), JPMorgan Chase (JPM), RBS (RBS) and UBS (UBS). The report indicates that U.S. regulators have stepped up talks with banks including Barclays and the others involved. Reference Link
10:50 EDTCNew York regulator considering cybersecurity, cash laundering controls, WSJ says
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February 25, 2015
17:36 EDTCCiti discloses money laundering inquiries, says fully cooperating
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