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Hewlett-Packard Company (NYSE:HPQ) Looks Forward To Axe 800 people in Bangalore

Boston, MA 08/29/2014 (wallstreetpr) – According to reports, Hewlett-Packard Company (NYSE:HPQ) has decided to axe as many as 800 people from its Bangalore office. The news was spread by one of the people close to this matter who denied telling his name as the matter was very private. The main reason behind this mass job cutting […]

Is JPMorgan Chase & Co. (NYSE:JPM) A Victim Of Cyber Attack?

Boston, MA 08/29/2014 (wallstreetpr) – Diversified financial services provider JPMorgan Chase & Co. (NYSE:JPM) has been cooperating with the investigating officials of the Government of a potential cyber attack though the company is not witnessing any abnormal activities. Investigation On Banks The law enforcement officials from the FBI were enquiring with the JPMorgan, AP reported […]

Wells Fargo &Co (NYSE:WFC) CEO Swipes Government Backed Agencies Over Unfair Treatment

Boston, MA 08/27/2014 (wallstreetpr) – Wells Fargo & Co (NYSE:WFC) push to protect itself from federal authorities has seen it issue a stunning warning stating it would block the issuance of home loans to people with low credit scores. The move is aimed’ at protecting the bank from unnecessary costs that come with soured loans […]

Bank of America Corp (NYSE:BAC) Finalizes A Settlement At $16.7 Billion, Pulls Up Its Share Value

Boston, MA 08/22/2214 (wallstreetpr) – Bank of America Corp (NYSE:BAC) finally took a call to pay $16.7 billion in order to settle the budding charges emanating from the sale of a myriad of mortgages backed by sumptuous securities. Analysts are of the opinion that this move is expected to help BAC put the existing or […]

Bank Of America Corp (NYSE:BAC) Elevates Thomas Montag As Sole Chief Operating Officer And David Darnell as Vice Chairman

Boston, MA 08/20/2014 (wallstreetpr) – A financial holding company, Bank of America Corp (NYSE:BAC) had promoted two of its co-Chief Operating Officer. One of them Thomas Montag was elevated as its sole Chief Operating Officer from the current position of co-Chief Operating Officer. He was credited for helping the bank to build its investment banking […]

Bank Of America Corp (NYSE:BAC) And Others Get Enforcement Letters From Regulators In Foreign Exchange Markets Manipulation Probe

Boston, MA 08/14/2014 (wallstreetpr) – Various banks including JPMorgan Chase & Co. (NYSE:JPM), Morgan Stanley (NYSE:MS) and Bank of America Corp (NYSE:BAC) have been issued notification from the regulators in context with the alleged currency rigging. The regulators are in process of preparing enforcement actions on activities associated with currency rigging.  It has been alleged that […]

Wells Fargo & Co (NYSE:WFC) Reportedly Offering $1.3 Billion Whooping Amount In Bad Debt Of Bank

Boston, MA 08/12/2014 (wallstreetpr) – Wells Fargo & Co (NYSE:WFC) announced recently that it agreed to sell approximately $1.3 billion in the troubled mortgage debt. The sale shall be made in support of and on behalf of the regional bank-associated clients. Marketing of Two Pools In an interview with Bloomberg, a person close to the matter […]

UBS AG (NYSE:UBS) Takes #1 Position As The World’s Largest Private Bank After Displacing The Bank Of America Corp (NYSE:BAC)

Boston, MA 07/17/2014 (wallstreetpr) – UBS AG (NYSE:UBS) reinforced its position as a leader in the market over Bank of America Corp (NYSE:BAC) as the world’s leading private bank. It is also worth noticing that this is just within the distance of whooping $2 trillion, according to a study conducted by Scorpio Partnership. Interesting Findings […]

2Q Profit Climbs At Wells Fargo & Co (NYSE:WFC)

Boston, MA 07/11/2014 (wallstreetpr) – Wells Fargo & Co (NYSE:WFC), the most valuable bank in the world, reported an increase in 2Q profit amid heightened cost-cutting in the company. Although profit is up in 2Q, the bank failed to extend its record of 17consecutive quarters of profit increase. Earnings meet expectation Wells Fargo & Co […]

Possible Surprise In Citigroup Inc (NYSE:C)’s 2Q Report

Boston, MA 07/11/2014 (wallstreetpr) – Citigroup Inc (NYSE:C) reports 2Q2014 next week July 14. That will be ahead of rival JPMorgan Chase & Co. (NYSE:JPM) that reports on July 15. A lot has improved for banks in the U.S. since the end of the financial meltdown about five years ago. However, there are also new […]

Citigroup Inc (NYSE:C) To Pay $7 Billion In Mortgage settlement

Boston, MA 07/09/2014 (wallstreetpr) – Citigroup Inc (NYSE:C), one of the largest banks in the U.S. with more than $144 billion market cap, will likely pay more than was expected to settle a probe into the company’s mortgage deals in the run-up to the 2008 and 2009 financial crises. Several Wall Street banks have already […]

Wells Fargo & Co (NYSE:WFC) Aims To Grow and Lessen Confusion In Its Loan Business

Boston, MA 07/03/2014 (wallstreetpr) – Wells Fargo & Co (NYSE:WFC) recently announced the merger of two of its corporate asset-based lending units in an apparent effort by the bank to position itself well for the anticipated growth in the segment. The bank, which is considered the fourth largest lender in the U.S., aims to erase […]

Arista Networks Inc (NYSE:ANET) Ends ‘Quiet Period’ On Positive Note

Boston, MA 07/02/2014 (wallstreetpr) – Arista Networks Inc (NYSE:ANET) has ended its 25-day post-Initial Public Offering “Quiet Period” imposed by the Securities and Exchange Commission (SEC). The development allows underwriters to exercise their options on the stock. The development was greeted with an impressive rally on the stock as it surged nearly 22 percent in the […]

Bank of America Corp (NYSE:BAC) Eliminating Jobs At Loss-Making Business

Boston, MA 06/30/2014 (wallstreetpr) – Bank of America Corp (NYSE:BAC) intends to further reduce its financial burden, but this time around eliminating more jobs at its loss-making Legacy Assets and Servicing business in Charlotte, North Carolina. The company has informed 540 employees at the delinquent mortgage loans handling unit about their impending layoff. The employees have […]

J.C. Penney Company, Inc. (NYSE:JCP) Solves On Big Problem – Money

Boston, MA 06/25/2014 (wallstreetpr) – J.C. Penney Company, Inc. (NYSE:JCP), which is struggling to make itself relevant to customers and shareholders after years of missteps, needs money to manage its turnaround. Fortunately, the company recently closed a credit facility that will bolster its cash position. The company closed almost $2.4 billion in senior secured credit […]

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