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Stock Market & Financial Investment News

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February 18, 2014
05:35 EDTWFC, GS, JPMWall Street bankers cashing in, WSJ reports
Insiders at the six major Wall Street banks sold $26M of stock last month, the busiest start to a year since 2007, according to data compiled for the Wall Street Journal by Equilar, an executive compensation research firm, reports the Journal. For example, J.P. Morgan Chase (JPM) COO Matt Zames sold $4.2M of shares. Goldman Sachs Group's (GS) controller and chief accounting officer, Sarah Smith, also sold, as did Wells Fargo (WFC) CFO Timothy Sloan. Reference Link
News For JPM;GS;WFC From The Last 14 Days
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June 18, 2015
15:46 EDTWFCWells Fargo names Hope Hardison as Chief Administrative Officer
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06:36 EDTGSGoldman tells interns not to stay in office overnight, Reuters reports
Goldman Sachs (GS), which has been looking to improve working conditions for its investment-banking interns, has set new guidelines, under which interns are expected to stay away from the office between midnight and 7 a.m. during weekdays, Reuters reports, citing company sources and confirmed by a Goldman spokesperson. Following the 2013 death of a Bank of America (BAC) intern in London, Goldman and other banks have taken steps to encourage its junior employees to take time off. Reference Link
06:21 EDTGSFour banks to pay nearly $1B to settle forex rigging suit, AFP reports
Goldman Sachs (GS), BNP Paribas (BNPQY), Barclays (BCS), and HSBC (HSBC) have all reached separate agreements to settle a U.S. civil lawsuit over alleged foreign exchange rigging in deals totaling approximately $1B, AFP reports, citing sources close to the situation. The agreements are preliminary and are subject to change, the sources told AFP, confirming an earlier report on the settlements from the Wall Street Journal. Barclays is expected to pay $375M, HSBC $285M, BNP Paribas roughly $200M, and Goldman Sachs about $130M, the report says.The four banks' pending agreements would settle the civil lawsuit filed by Scott & Scott and Hausfeld that claims their traders manipulated the forex market to boost the banks' profits, AFP reports. Reference Link
06:01 EDTGSBanks to settle civil forex lawsuit for nearly $2B, WSJ reports
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June 17, 2015
17:37 EDTGSGM hires advisers as Fiat Chrysler tries to force merger talks, Reuters says
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15:04 EDTWFCGE Capital Real Estate closes nearly $10B in deals towards exit
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14:55 EDTJPMJPMorgan announces unexpected death of Vice Chairman Jimmy Lee
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11:16 EDTJPM, WFCOCC restricts some banks from certain mortgage related business activity
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11:07 EDTWFCWells Fargo issues statement on amended OCC Consent Order
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06:48 EDTWFC, JPM, GSMore big banks waiving overdraft fees, WSJ reports
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June 16, 2015
18:33 EDTJPMJPMorgan shareholder suit over 'London Whale' dismissed, Reuters reports
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16:01 EDTGSApple Twitter Facebook Bank of America Yahoo Netflix Alibaba WisdomTree Coca-Cola Goldman Sachs Micron General Electric
iPath S&P 500 VIX Short-Term Futures down 33c to 18.68. Option volume leaders: AAPL TWTR FB BAC YHOO NFLX BABA WETF KO GS MU GE.
08:21 EDTGSJetBlue enters into agreement with Goldman to implement ASR program
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07:11 EDTGS, WFC, JPMSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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06:19 EDTJPMJPMorgan, HSBC could move parts of businesses to Luxembourg, U.K. Times reports
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June 15, 2015
16:00 EDTJPMOptions Update; June 15, 2015
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14:54 EDTGSGoldman Sachs to launch online consumer lending unit, NY Times says
Goldman Sachs (GS) plans to move into online consumer lending and hopes to launch a website and app next year, reports the New York Times, citing people briefed on the plans. Sources said the bank approached multiple top financial executives with offers to lead the project, which could have as many as 100 employees by year's end. The report notes that the lending business is "facing a shake-up," with small loans already being offered by LendingClub (LC), On Deck Capital (ONDK), and PayPal (PYPL) . Reference Link
08:07 EDTJPMFINRA calls in banks, asset managers for meetings on bond markets, FT says
FINRA has called in several senior executives from banks and asset managers for two meetings to “explore potential solutions” to a liquidity crunch confronting bond markets, the Financial Times reports, citing people familiar with the matter. Some of the representatives summoned to the meetings include Blackstone’s (BX) Stephen Schwarzman, JP Morgan’s (JPM) Jamie Dimon, and economist Nouriel Roubini, the report says. The first meeting will commence on June 18 and will be devoted to discussing “the extent and severity of the liquidity downturn,” the Financial Times reports. The financial industry will propose to FINRA introducing delayed reporting requirements when trading big blocks of debt, the report says. Reference Link
07:33 EDTGS, WFC, JPMBig banks may target fee-generating firms for acquisitions, WSJ says
Large U.S. banks may begin targeting fee-generating businesses as possible takeover targets, the Wall Street Journal reports. Big banks may start looking at businesses that don’t require too much capital for acquisitions, such as advisory businesses, payment processing, treasury services, and financial tech, the report says. Even though heightened capital and liquidity requirements make many types of acquisitions “unappealing” to big banks, the idea of banks even as big as JP Morgan (JPM) pursuing a multi-billion dollar deal is “no longer out of the realm of possibility,” the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:12 EDTJPMJPMorgan reports May net credit losses 2.59% vs. 2.34% last month
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