Small Call from Fed Branches to Change Discount Rate
The minutes from the meeting over the Discount Rate are out. They will not move the broad market in any meaningful way but it may ultimately matter to the large commercial banks. What the…
Banking, finance, and taxes
All Banking, finance, and taxes Articles
Newest first · Page 137Banks Charge Negative Interest to Hold Swiss, Danish Currency (STT, BK)
Jon OggState Street Corp. (NYSE: STT) and Bank of New York Mellon Corp. (NYSE: BK) will begin charging depositors to hold Danish kroner and Swiss francs. The two custody banks will charge money managers,…
Fitch: European Stability Mechanism ‘AAA’
Fitch Ratings today bestowed a ‘AAA’ rating on the European Stability Mechanism (ESM) that began its operations today and replaced the temporary European Financial Stability Fund (EFSF). Fitch’s rating is based on the following…
Focus on Bank Book Value Per Share Ahead of Q3 Earnings Season
The big banks are going to be rather important to watch this earnings season for the third quarter of 2012 as shares have risen handily from their lows. While banks almost never offer guidance…
Green Dot Slammed on Walmart-American Express Deal (GDOT, WMT, AXP)
Wal-Mart Stores Inc. (NYSE: WMT) this morning announced an agreement with American Express Co. (NYSE: AXP) on a prepaid credit card called Bluebird that the two companies ran as a pilot program last year…
Bank of Google — Open for Business
Google Inc. (NASDAQ: GOOG), the second most valuable tech company in the world, today launches a program in the United Kingdom that will help its customers finance online advertising purchases. The service is expected…
Week Ahead Earnings Calendar: Earnings Season Kicks Off! Banks, Alcoa, Retail
We have already seen waves of tempered guidance from many of America’s largest companies. Other companies have not said a word about their outlooks. What matters is that this coming week marks the official…
A Big Bank Merger in Greece?
National Bank of Greece S.A. (NYSE: NBG) is currently halted for trading, even the ADRs trading in New York. Shares were up about 4.5% in Athens before even the Greeks halted trading. The driving…
Private Company Engine Slows
True or not, conventional wisdom says that private companies, particularly small ones, are the engine of the economy and job creation. Even if these firms only add one or two employees each, small companies…
September FOMC Minutes Focus On Asset Purchases, Warning of the Fiscal Cliff
The FOMC Minutes from the September 12 to 13 meeting have been released. The one objection was from Lacker as you would have guessed. Most FOMC participants believed that the negative effects of QE3 could…
ECB Leaves Rates Alone, Touts Bond-Buying Plan
The European Central Bank (ECB) this morning announced that it would leave its benchmark interest rate at 0.75%. ECB President Mario Draghi also said in his monthly press conference that the proposed bond-buying program…
Bank of England Punts
The Monetary Policy Committee of the Bank of England this morning announced that it will leave its policy lending rate at 0.5% and that it will continue its asset purchase program at the current…
Analyst Suggests Banks Abandon New York
Infamous bank analyst Dick Bove believes that banks are treated so badly by the State of New York that they should abandon the location and move to alternate places. After the New York Attorney General filed…
Value Investing Congress: AIG Worth 50% More… Or More
The Value Investing Congress has many value fund managers and market pundits out with their respective stock tips this week. Glenn Tongue of T2 Partners talked up shares of American International Group Inc. (NYSE:…
Thumbs Up on U.S. Banks (CS, WFC, JPM, HBAN)
Calling U.S. banks a leveraged play on interest rates supported by declining spreads on investment grade debt, Credit Suisse Group (NYSE: CS) today upgraded its view of U.S. banks. The bank’s analysts believe that…