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Stock Market & Financial Investment News

News Breaks
November 16, 2012
06:10 EDTC, MS, WFC, USB, BAC, JPM, GSMajor banks have cut 160,000 jobs as many leave the industry, Reuters reports
Big banks have announced some 160,000 job cuts since early last year, with more layoffs coming as the industry restructures, reports Reuters. Many will leave the shrinking sector for good as redundancies outpace new hires by roughly two-to-one. A Reuters analysis of job cuts announced by 29 major banks showed the lay-offs were much bigger in Europe than in Asia or the U.S. Reference Link
News For GS;JPM;USB;MS;BAC;WFC;C From The Last 14 Days
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April 10, 2015
14:18 EDTJPMJP Morgan April volatility elevated into Q1 and outlook
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13:31 EDTWFCWells Fargo April volatility elevated into Q1 and outlook
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12:46 EDTWFCOn The Fly: Midday Wrap
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09:57 EDTBACBank of America April volatility elevated into Q1 and outlook
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06:38 EDTWFCBlackstone and Wells Fargo confirm acquisition of GE real estate assets
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06:35 EDTWFCGE releases financial details of GE Capital assets sale
Approximately $16B of after-tax charges are expected to be recorded in the first quarter of 2015 in connection with the plan – of which about $12B are non-cash. The charges include taxes on repatriated earnings, asset impairments due to shortened hold periods, and charges on businesses held for sale, including goodwill allocation. GE expects that the earnings impact of the GE Capital exits will be offset by the buyback over the exit period. GE has amended its income maintenance agreement to guarantee all tradable senior and subordinated debt securities and all commercial paper issued or guaranteed by GECC. The guarantee will replace the current income maintenance covenant. GE will maintain substantial liquidity and capital through the transition and does not expect to issue incremental GE Capital long-term debt for at least five years. Commercial paper will be further reduced to approximately $5 billion by the end of 2015.
06:34 EDTWFCGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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06:34 EDTWFCBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
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06:34 EDTWFCBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
06:31 EDTWFCGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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06:21 EDTJPM, BACBofA Merrill poaches JP Morgan's Brabazon for M&A group, Reuters reports
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06:11 EDTCCiti's head of franchise risk and strategy to retire, WSJ reports
Citigroup's head of franchise risk and strategy, Brian Leach, will retire as of April 30, The Wall Street Journal reports, citing memos from Leach and Citigroup CEO Michael Corbat. Mark Carawan, the bank's audit head, John Davidson, the bank's compliance head, and Chef Risk Offiver Brad Hu, will now report directly to Corbat. Reference Link
April 9, 2015
19:39 EDTCCiti weighs return to Cuba, Reuters says
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17:08 EDTCCiti head of Franchise Risk and Strategy, Brian Leach, to retire on April 30
Brian Leach, Citi’s Head of Franchise Risk and Strategy, has submitted a notice of retirement to Citi. The effective date of the retirement is April 30.
16:17 EDTWFCOn The Fly: Closing Wrap
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13:38 EDTWFCGE close to selling real estate holdings, WSJ reports
General Electric (GE) is close to selling its real estate holdings to Blackstone (BX) and Wells Fargo (WFC), Wall Street Journal reports, citing people familiar with the matter. The portfolio has $30B in holdings, the Journal adds. Shares of GE moved up 25c to $25.26 following the report. Reference Link
07:35 EDTCFitch Ratings to hold a webcast
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07:17 EDTGSGoldman Sachs April volatility elevated into Q1 and outlook
Goldman Sachs April call option implied volatility is at 24, May is at 19, July is at 18; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 16.
07:13 EDTJPMJPMorgan CEO sees legal cost normalizing next year, WSJ reports
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06:57 EDTCCitibank sued by Argentina over deal with creditors, Reuters reports
Citibank Argentina has been sued by Argentina over what it says is an illegal deal with a group of creditors in conflict with the government over unpaid debt, Reuters reports. Citigroup says it is "disappointed" by Argentina's legal actions and has denied violating laws. Reference Link
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