DealBook (Free subscription) | yesterday
JPMorgan Chase has held talks with potential partners about forming a consortium to break up British bank HBOS, The Telegraph reported. JPMorgan has reportedly spoken with National Australia Bank, named by the Telegraph as a potentially interested party. The Australian lender played down the report, however, while an industry source in the United Kingdom told Reuters [...]
Curbed (Free subscription) | 07/24/2008
The owners of Starrett City have picked four "finalists" from eight bidders to buy the huge housing complex. They include A.M.E. Cathedral of New York teamed with J.P. Morgan Chase, NHP Foundation teamed with the Related Companies and two other...
DealBook (Free subscription) | 07/24/2008
European banks will write down a further 17.6 billion euros, or $27.7 billion, this year and cut dividends in 2009 as they catch up with United States rivals in marking down leveraged loans and subprime assets, JPMorgan Chase analysts said Wednesday. Write-downs after the first quarter will be larger than their initial estimate of 13 billion [...]
Financial Services (Free subscription) | 07/24/2008
BBC News Overdue credit card bills show rise in JuneBoston Globe, United States - 1 hour ago… according to reports filed by American Express, Bank of America, Capital One Financial, JPMorgan Chase, Citigroup, and Discover Financial Services. …Sanjay Sakhrani – Keefe, Bruyette & Woods Seeking AlphaAmerican Express feels consumers' pain CNNMoney.comAmex profit falls on rising defaulters The AgeBloomberg...
Jim Cramer's Mad Money (Free subscription) | 07/23/2008
Jim Cramer’s Mad Money Stock Picks for Tuesday July 22 2008. These are all of Jim Cramer’s stock picks that are a Buy! I bold my picks. Buy: Bank of America (BAC) Chesapeake Energy (CHK) Campbell Soup (CPB) Walt Disney (DIS) Google (GOOG) JPMorgan Chase (JPM) Staples (SPLS) US Bancorp (USB) Sell: Peabody Energy (BTU) Colonial Bancgroup (CNB) Kraft Foods (KFT) Annaly Mortgage (NLY) Office Depot (ODP)...
The Big Picture (Free subscription) | 6 hours ago
Nicely structured reasoning via Barron's Randall Forsyth: Borrowings at the Federal Reserve's discount window averaged a record $16.4 billion in the week ended Wednesday, up $2.5 billion from a week earlier. A spokesman for the New York Fed had no explanation for the jump. That, by the way, doesn't include any of the new-fangled lending to securities dealers, which were nil in the latest week. (The...
Risk Moment RES (Free subscription) | yesterday
Wall Street Shrinks From Competing With Fannie Mae, Freddie Mac By Kathleen M. Howley and Bryan Keogh July 24 (Bloomberg) — Bobby Joe Cooper says she “kicks herself every day” for not using a Fannie Mae or Freddie Mac mortgage when she refinanced her Terre Haute, Indiana, home three years ago. Instead, the 29-year-old [...]
MarketBeat (Free subscription) | yesterday
The financial-sector euphoria has been washed away. After several days of frenzied scarfing down of bank stocks, investors are pulling away from the shares again amid a series of mixed earnings results, poor economic data, and firm-specific news. But mostly, the turnaround represents the anticipated decline from the massive run-up the shares enjoyed in a [...]
PR News Wire (Free subscription) | 07/24/2008
NEW YORK, July 24 /PRNewswire/ -- Austin Adams, former CIO for JPMorgan Chase, spent most of his 35-year career in banking overseeing technology and operations. In a period of dramatic consolidation, he was involved in more than 90 mergers and responsible for almost 28,000 employees and a multi-billion dollar budget. On Wednesday 20 August, the man Business 2.0 magazine called "one of the 16 most...
Real Time Economics (Free subscription) | 07/24/2008
The fight for custody of Wall Street firms is underway. Congress will make the call between two regulatory parents: the Securities and Exchange Commission, which oversees brokerage activities and markets, and the Federal Reserve, which oversees commercial bank holding companies and overall financial safety and soundness. SEC Chairman Christopher Cox made a clear pitch Thursday for custody, [...]
Risk Moment RES (Free subscription) | 07/24/2008
http://blogs.wsj.com/deals/2008/07/24/what-80-cents-buys-you-a-candy-bar-or-a-leveraged-loan/print/What 80 Cents Buys You: A Candy Bar or a Leveraged LoanPosted By Heidi N. Moore On July 24, 2008 @ 11:00 am In Investment Banks, Funding, Private Equity | No CommentsCars, plasma TVs, fancy new clothes. They are all assets that start falling in value the minute you buy them. Add to that list old leveraged...
MarketBeat (Free subscription) | 07/24/2008
A standard polished silicon wafer. (Source: MEMC) Shares of MEMC Electronic Materials, a maker of silicon wafers and raw polysilicon used in the solar and semiconductor industries, were hit hard in premarket action after the company’s post-close earnings report. The company detailed a number of problems at various facilities and reduced its full-year outlook. Barron’s Tech [...]
Vietnam Business Finance (Free subscription) | 07/24/2008
Vietnam's consumer prices rose in July at the slowest pace since October as global food and energy prices declined. The consumer prices index gained 1.1% after a 2.1% increase in June, the General Statistics Office reported today in Hanoi. Annual inflation quickened to 27% from 26.8% last month, the fastest pace since at least 1992. Global food prices have been declining on increased supplies,
MarketBeat (Free subscription) | 07/23/2008
Costco televisions. Costco Wholesale Corp. and its warehouse-club brethren had been a refuge for investors sick of watching retailer shares struggle. That ended Wednesday. Sure, Costco reported lousy numbers — expenses pinched the company’s bottom line, and its effort to maintain low prices on certain products (such as gasoline) reduced its profit margin. But the 11% decline [...]
The Power of Choice (Free subscription) | 07/23/2008
Here is a list of 50 things I’ve achieved, which writing in itself, is an achievement! (Which is why that is point 50 on my list!) I came up with the idea of writing this list not to satisfy my ego and show to people “oooh look what I’ve done” but more as an [...]
