Alibaba Group Holding Ltd’s IPO is the biggest initial public offering in the U.S. with an evaluation of at least $160 billion. Bank of America Corp (NYSE:BAC) is among one of the few large banks who are not a part of this deal; however, Bank of America Corp (NYSE:BAC) has devised a secondary financial product…
MasterCard Inc (MA) Believes That Apple Inc (AAPL)’s Apple Pay Is Safe
With the unveiling of Apple Inc (NASDAQ:AAPL)’s latest products, namely iPhone 6 and iPhone 6 Plus, the new era of being able to make payments via mobile devices has become a reality and is here to stay courtesy of support offered by entities like MasterCard Inc (NYSE:MA). If Apple Inc (NASDAQ:AAPL) is a leader in…
Mastercard Inc (MA) Lost Cross-border Fee Claim Against European Commission in EU Court
In one of the latest developments over interchange card fees, Mastercard Inc (NYSE:MA) lost against the European Commission, as the European Court of Justice backed European Commission over their proposed ban on cross-border fee charged by Mastercard. In 2007, the European Commission stated that the interchange fees charged by Mastercard Inc (NYSE:MA) for cross-border transactions…
Burger King Worldwide Inc (BKW) Advised By Senators to Avoid Plan to Move to Canada
The proposed deal by Burger King Worldwide Inc (NYSE:BKW) to acquire Tim Hortons, a Canadian coffee and donut chain for $11.5 billion involves Burger King changing its tax base to Canada. However, a group of U.S. Senators opposed to the move has urged the food chain to shelve such plans. From corporate tax point of…
Bank of America Corp (BAC) Transforming into a Bullish Options Trade
Goldman Sachs Group Inc (NYSE:GS) upgraded the stock rating of Bank of America Corp (NYSE:BAC) on Monday to “Buy” against the previous “Neutral” rating. It makes one of the most interesting transformations of the stock market post the financial crisis. The shares of Bank of America Corp (NYSE:BAC) witnessed an upward rally after the announcement…
Visa Inc (V), Mastercard Inc (MA) and American Express Company (AXP) Might Benefit From Apple Pay
The release of Apple Inc’s iPhone 6 variations on September 9th is expected to drastically change how people shop. This is because Apple Inc. released a new payment method called Apple Pay, which is expected to substantially reduce the use of plastic cards issued by Visa Inc (NYSE:V), Mastercard Inc (NYSE:MA), American Express Company (NYSE:AXP),…
Cramer Supports Bank of America Corp (BAC)’s Upgrade by Goldman Sachs Group Inc (GS)
Jim Cramer supported Goldman Sachs Group Inc (NYSE:GS)’s decision to upgrade the rating of Bank of America Corp (NYSE:BAC) in his CNBC show. Cramer agreed with Goldman Sachs’s assessment that the bank is finally over with its problems and it can certainly focus on its business. In his show, “Squawk on the Street”, Cramer said,…
Goldman Sachs Group Inc (GS) Ahead of Bank of America Corp (BAC) and Citigroup Inc (C) at Legal Fronts
Goldman Sachs Group Inc (NYSE:GS) is having an excellent year in terms of its legal battle wins. With other financial crisis accusers including Bank of America Corp (NYSE:BAC) and Citigroup Inc (NYSE:C) paying $16 billion and $7 billion in settlements, Goldman Sachs Group Inc (NYSE:GS) settled its lawsuits for $1.2 billion. Goldman Sachs Group Inc…
Cramer’s Overview on Bank of America Corp (BAC)
After years of fighting law-suits in court with Department of Justice, Bank of America Corp (NYSE:BAC) finally got rid of its long-standing burden by agreeing to pay almost $17 billion to federal authorities. The exact figure being $16.65 billion, it is the largest amount to be paid towards settlement of dispute by any single organization.…
Fannie Mae (FNMA) And Freddie Mac (FMCC): Pershing Square Capital Management LLC Files Case Against The US Government
William Ackman of Pershing Square Capital Management LLC has filed a case against the U.S. Government accusing them of taking away all the profits of Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Federal Home Loan Mortgage Corp (OTCBB:FMCC) illegally. Pershing has filed this case in the U.S. Court of Federal Claims (Washington, D.C.) and…