2011

Jan

02

Facing the WikiLeaks threat Bank of America reviews its documents

In order to combat the WikiLeaks threat of disclosing corruption by various higher executive of major US banks, the Bank of America has been reviewing the banks documents. A group of almost 20 bank executives led by Bruce R. Thompson, the Chief Risk

2011

Jan

03

US corporate spread drop below global corporate debt

The US investors for the first time are more inclined towards US corporate bonds by demanding smaller premiums than company debt elsewhere in the world. During global financial crisis the US companies attracted US investors by paying them more as com

2011

Jan

02

Commodities top amongst other asset classes in 2010

The economic recovery has led commodity gains beat stocks bonds and dollar in 2010. China's fastest growing economy is due to an increasing record demand for sugar soybeans and copper. The CRB Index monitoring 19 raw materials gained almost 15 percen

2011

Jan

03

Banks in Singapore facing competition in Credit Card market

Banks in Singapore are facing competition in credit card market with the growth in economy by 14.7 percent last year. The recovering economy which has led to increase in income of consumers has forced Credit card issuing firms to compete for customer

2011

Jan

03

Bank of America agrees to pay USD 2.6 Billion to Fannie Mae and Freddie Mac

Bank of America has agreed to pay USD 2.6 Billion to US mortgage giant Fannie Mae and Freddie Mac in order to settle the claims that they sold them bad loans issued by banks Countrywide Financials. The two mortgage giants also named as Government Spo

2011

Jan

03

Inflation, spending cut and euro debt crisis would be the biggest challenge this year

According to the Economists in the coming year inflation, euro debt crisis and public sector spending cut would be the biggest threat for the economy. According to a survey conducted almost half of the respondents were of the view that inflation will

2011

Jan

04

US Regulators may scrutinize Goldman Sachs move of additional investment in Facebook

Goldman Sachs Group Inc is offering their customers a stake in world famous social networking site Facebook of worth USD 1.5 Billion. This initiative might stimulate Security Exchange Commission (SEC) to scrutinize that whether this move is violating

2011

Jan

04

Iowa Attorney General to commence foreclosures with leading banks

The 50 state attorneys general investigating the foreclosure practices have decided to first resolve with the nation's five largest loan servicers including Bank of America Corp. and JP Morgan Chase & Co. although no settlement have been reached yet.

2011

Jan

06

Barclays relieved from Subprime Assets lawsuit

Barclays has sought a sign of relief after the Manhattan District Judge stated of the bank not misleading the investors in reference to subprime assets. The US judge mentioned that due to inaccurate evidence in tracking the banks proceeding s lead to

2011

Jan

06

Goldman Sachs to be examined by SEC

Goldman Sachs investment in social networking giant, Facebook has led Securities and Exchange Commission into a probe over the financial institution's proceedings. SEC will investigate into the investment activity carried out by Goldman Sachs as its