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Stock Market & Financial Investment News

News For C;BIDU From The Last 14 Days
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July 22, 2015
12:58 EDTCCiti says to wind down banking operations at Banamex USA
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12:53 EDTCFDIC announces $140M civil penalty against Citi's Banamex USA unit
The FDIC announced the assessment of a civil money penalty of $140M against Banamex USA, Century City, California, for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. In a concurrent action, the California Department of Business Oversight assessed a civil money penalty of $40M. The FDIC's penalty of $140M will be satisfied in part by the CDBO's penalty. The FDIC's penalty will be paid to the United States Department of the Treasury. In taking this action, the FDIC determined that the bank failed to implement an effective BSA/AML Compliance Program over an extended period of time. The institution failed to retain a qualified and knowledgeable BSA officer and sufficient staff, maintain adequate internal controls reasonably designed to detect and report illicit financial transactions and other suspicious activities, provide sufficient BSA training, and conduct effective independent testing.
06:15 EDTBIDUBaidu should be bought ahead of earnings, says Summit Research
Summit Research analyst Henry Guo recommends buying shares of Baidu ahead of the company's Q2 results on July 27. Baidu's revenue should top consensus and strength in both the iQiyi and Nuomi businesses should lead the Q3 outlook above street expectations, the analyst tells investors in a research note. He keeps a Buy rating on the stock with a $256 price target.
July 21, 2015
10:58 EDTCCiti fined $70M, ordered by CFPB to provide $700M in relief
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