Bank of America Corp (NYSE:BAC) is expected to pay $16.5 billion in a record settlement concerning the mortgage bond sales processed during the financial crisis of 2008. Bank of America Corp (NYSE:BAC) has been working with the U.S. Department of Justice to cut out a deal and the bank is planning to pay $9 billion…
PwC To Pay $25 Million Fine For Submitting Sanitized Report For Japanese Bank
In the latest hearing of PricewaterhouseCoopers LLP (PwC) report sanitizing issue for Bank of Tokyo-Mitsubishi UFJ, New York Department of Financial Services issued a fine of $25 million and a 2-year ban on PwC. According to the New York Department of Financial Services, PwC was accused of thinning out on an anti-money-laundering report, which it…
Cramer’s Favorite Financial Stock Picks in last week: American International Group (AIG) and Washington Prime Group (WPG)
Jim Cramer told Mad Money viewers last week that good things that are quite uncommon in routine life occur daily in the stock market. In the Lighting Round of the show, Cramer listed Washington Prime Group (NYSE:WPG) and American International Group (NYSE:AIG) as his favorite stocks for the week. Washington Prime Group (NYSE:WPG) is a…
Cramer’s Favorites: Apple Inc. (AAPL), Celgene Corporation (CELG) and Chipotle Mexican Grill, Inc. (CMG)
Jim Cramer, is one of the best financial analysts and investing advisors from ‘The Street’ has repeatedly recommended three companies and that too as recently as within the month gone by. What is it that has brought these companies into limelight? Each one of them is renowned in its niche, courtesy of innovations and good returns…
Airbus Group NV (AIR) Plays $15 billion A350 Card To Get Ahead Of The Boeing Company (BA)
Airbus Group NV (EPA:AIR)’s newest development, the A350, has finished its testing. The $15 billion investment to achieve the twin-engine A350-900, capable of carrying 315 passengers with a range of 7,750 nautical miles; and a later version the A350-1000 with 369 seats, that will enter service in 2017. The recently developed Airbus should, as mentioned…
JPMorgan Chase & Co. (JPM) Selling 50% Of Its Private Equity Business
After a long waiting period, JPMorgan Chase & Co. (NYSE:JPM) has finally decided to sell out 50% stake in its private equity business, One Equity Partners. JPM has current equity holdings of $4.5 billion and the bargain for this sale is struck at $2 billion. The two companies purchasing One Equity’s half of the current…
Amazon.Com, Inc (AMZN) Employs the Same Tactic for Pre-Orders of The Walt Disney Company (DIS), Time Warner Inc (TWX) and Hachette
According to Home Media Magazine, a weekly home entertainment business publication, reportedly as a negotiation tactic, Amazon.com, Inc. (NASDAQ:AMZN) blocked the pre-order option for The Walt Disney Company (NYSE:DIS)’s most major disc releases including Muppets Most Wanted (Aug. 12), Captain America: The Winter Soldier (Sept. 9), Million Dollar Arm (Oct. 7) and Maleficent (Nov. 4).…
Amazon.com, Inc. (AMZN) and Hachette War of Words Seeks Mass Involvement
For authors and book lovers all over the world, the news pertaining to the on-going dispute between a publishing company Hachette and the global online retailer Amazon.com, Inc. (NASDAQ:AMZN) might have been surprising. However, it might as well be revealed that this is not the beginning of the dispute but a culmination of stand-off between…
Cobalt International (CIE), Lumber Liquidators (LL) and Ocwen (OCN) Are Trading Near To Their 52-Week Lows
Cobalt International Energy, Inc. (NYSE:CIE) reported a loss in its second quarter financials and the company’s shares lost 2.5 percent on Thursday and fell down to its 52-week low of $13.54. Cobalt International Energy, Inc. (NYSE:CIE) reported a loss of $95 million for the second quarter of 2014 ($0.23 per share) which is slightly higher than…
The Ryland Group, Inc. (RYL): Hedge Fund Manager Crispin Odey Is Bailing Out
Crispin Odey’s hedge fund filed an amended 13G filing revealing that it is disposing a big chunk of its holdings in The Ryland Group, Inc. (NYSE:RYL). The London-based hedge fund had 4.74 million shares of the stock at the end of February. Crispin Odey’s fund cut its position slightly to 4.64 million shares by the…