Reuters: California raced to approve a state budget its cutting deficit. Reuters: Ten more people may face charges in Madoff case. Reuters: Gannett (GCI) is laying off 1,000 more people. Reuters: China…
Short sellers jumped out of major financial shares but piled into the stocks for major industrial firms based on data as of June 15. Shorts clearly think the restructuring of the bank…
Reuters: Political battles are likely to make this a tough year for the Fed. Reuters: The head of Toyota (TM) warned of two more tough years. Reuters: Lawmakers accused Fed of a…
John Mack of Morgan Stanley (MS) made sure that he had a large base salary for this year, even though his firm nearly fell apart last year. The management of Citigroup (C)…
The federal government has set up a number of systems to effectively control the financial and credit systems along with most of the major firms that operate in the sector. The most…
Reuters: The head of a Congressional watchdog committee is pushing for a consumer protection agency. Reuters: China defended its export policies against a WTO complaint. Reuters: Citigroup (C) intends to raise the…
Deutsche Bank says that the commercial real estate market in America will not recover until 2017. Richard Parkus, Deutsche Bank head of Commercial Mortgage-backed Securities and Asset-Backed Securities Synthetics Research, told Reuters…
Reuters: Airlines are cutting back on first class seating. Reuters: Xstrata wants merger talks with mining rival Anglo American. Reuters: Employers are cutting 401 (K) plans. Reuters: Brand loyalty is being hurt by…
Citigroup, inc. (NYSE: C) is back under focus by an old bull in the stock. Dick Bove of Rochdale Securities has started coverage of the troubled bank with a BUY rating and…
Douglas A. McIntyre The Wall Street Journal, in a bit of investigative reporting, found that the CEOs of companies that have received federal bailout funds are still having fun using their firms’ private jets. Or,…
Bank of America’s (BAC) addiction to giving its senior employees huge bonuses has not ended. These used to be based on “performance.” A banker who created toxic asset products that could be…
Reuters: The US outlined new financial market reforms. Reuters: Obama lobbied MDs on his new healthcare package. Reuters: Russia hosted the first BRIC summit. Reuters: B of A’s (BAC) BlackRock (BLK) stake…
Reuters: The heads of the emerging markets, the so-called BRICs, held their first global summit. Reuters: Obama will be tested this week on financial reforms. Reuters: Rich nations are working on an…
Reuters: Fiat closed its deal for control of Chrysler. Reuters: California may be hit by an economic “meltdown.” Reuters: May foreclosures were third highest month ever recorded. Reuters: The US named a…
The House Oversight Committee has subpoenaed the Fed to get information relating to the Bank of America (BAC) buyout of Merrill Lynch. Ken Lewis, the bank’s CEO, claims that former Treasury Secretary…