national-global

Citi CEO Basks in Glowing Coverage; Yes, There Really Is a Dollar-Sniffing Dog

04/16/13

Breaking News This Morning ...

Earnings: U.S. Bancorp, Comerica, Goldman Sachs, Northern Trust Receiving Wide Coverage ...

Tragedy: The nation remains transfixed and saddened by the events in Boston. Boston Globe, Boston Herald, New York Times

Shining Citi: Citigroup CEO Michael Corbat is basking in flattering coverage this morning after posting a 30% profit jump for the first quarter, a period when rivals' results suffered from refi droop. News accounts chalk it up to Corbat's cost cuts; the bank's...

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Refi Party Is Over, Mobile Money Party Is Just Beginning

04/15/13

Breaking News This Morning ...

Earnings: Citigroup, M&T, First Republic, Webster Receiving Wide Coverage ...

Refi Party's Over: That seems to be the big takeaway from the JPMorgan and Wells Fargo first-quarter reports that came out Friday, which showed declines in mortgage banking income. Wall Street Journal, Financial Times, New York Times, Washington Post ...

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JPM, Wells Earnings; European Banking Update; Bitcoin's Big Investors

04/12/13

Breaking News This Morning ...

JPM Earnings: JPMorgan Chase kicked off earnings season today by announcing a 33% rise in net income in the first quarter. The bank reported a profit $6.53 billion, or $1.59 a share, besting analyst expectations of about $5.4 billion in net income. Per the Journal, "strong investment-banking results offset declining mortgage revenue." Per some live-tweeting, JPM CEO Jamie Dimon dodged questions regarding the shareholder proposal to break up his role as...

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Goldman Strikes Deal on Blankfein's Dual Role; Dimon Writes Shareholders; Is an FHA Bailout on the Way?

04/11/13

Receiving Wide Coverage ...

Chairman and CEO?: Goldman Sachs' Lloyd Blankfein has successfully skirted a vote that could have split up his role as CEO and chairman after striking a deal with the investment group putting forth the proposal. The deal beefs up the role of lead director James Schiro, who will, moving forward, "set the agenda for the board, instead of merely approving it" and "write his own letter to shareholders in the proxy statement,"...

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Mortgage Settlement Check Assessment; Small Biz Aid Gets TARP-ed; KPMG Rogue Auditor Update

04/10/13

Receiving Wide Coverage ...

Mortgage Settlement Checks to Be Mailed: Regulators announced yesterday that the first round of checks related to their $8.5 billion settlement with banks over alleged foreclosure processing mistakes will soon be in the mail. Many news outlets led with the stats. The Fed and the OCC "are set to dole out roughly $1.2 billion in the first batch of payments," Dealbook reports. "By April 12, the regulators expect to mail 1.4 million...

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Mary Jo White's To-Do List; Jack Lew Goes to Europe; KPMG Fires Senior Partner for 'Rogue Actions'

04/09/13

Receiving Wide Coverage ...

Confirmed: As expected, the Senate confirmed former federal prosecutor turned corporate defender Mary Jo White as chairman of the Securities and Exchange Commission on Monday. She's set to start at the SEC any day now, but already has her hands full. On the SEC's (and as such White's) to-do list, per Dealbook: "complete new rules for Wall Street," "take aim at financial fraud," "confront the growing world of high-frequency trading … and...

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JPM Board Lobbies for Dimon's Dual Role; Fed Policy Side Effects

04/08/13

Receiving Wide Coverage ...

Lobbying for Dimon's Dual Role: JPMorgan Chase board members certainly support Jamie Dimon as bank CEO and chairman. Now, they're working hard to ensure shareholders feel the same way ahead of a vote on a nonbinding proposal to take away Dimon's chairman title. The proposal, which has been voted on by shareholders before, is expected to get more support this year due to the continued fallout from the London Whale trading debacle...

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BOJ Goes Big; Fed Mulls Change; Corzine Gets Slapped

04/05/13

Receiving Wide Coverage ...

BOJ Goes for Broke: ...Or, perhaps, will go broke trying. Haruhiko Kuroda, the newly installed Bank of Japan governor, unveiled a package of easy-money policies Thursday that might make even Ben Bernanke blush. "This is an entirely new dimension of monetary easing, both in terms of quantity and quality," Kuroda said. "Our stance is to take all the policy measures imaginable at this point to achieve the 2% [inflation] target in two...

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Why Bitcoin Matters: It's the Payment System, Stupid!

04/04/13

Receiving Wide Coverage ...

TD Bank: CEO Ed Clark will retire next year and hand the reins to Bharat Masrani, who has overseen the Canadian bank's expansion in the U.S. over the last six years — a hint of where TD's growth ambitions lie. The story in today's Journal leads with an anecdote suggesting customer service has worsened at the former Commerce Bank operations since the Canucks took over "America's Most Convenient Bank." Somewhere, Vernon Hill...

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SEC Unveils Its Stance on Social Media; Cyprus Update; The Great Housing Debates

04/03/13

Receiving Wide Coverage ...

SEC Unveils Social Media Rules: The Securities and Exchange Commission has decided that companies can use Facebook, Twitter and other social media outlets to disclose key information about operations. But there's one catch: investors must be told what handles, Facebook pages, etc. these updates will be posted to. According to the Post, this disclosure rule essentially mimics the guidance issued by the SEC regarding company websites in 2008. Regarding the new social...

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