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Huntington Bancshares To Merge With TCF Financial, Creating A $22B Entity
Sunday, December 13, 2020 - 10:31pm | 664Read More...Huntington Bancshares Inc (NASDAQ: HBAN) and TCF Financial Corporation (NASDAQ: TCF) announced late Sunday the two banks have agreed to merge in an all-stock deal. What Happened: The combined company will have a market valuation of $22 billion and continue to operate under the Huntington ...
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HSBC Mulls Exiting US Retail Banking Operations: Report
Monday, November 30, 2020 - 1:29am | 375Read More...HSBC Holdings plc (NYSE: HSBC) is considering a complete exit from retail banking operations in the U.S., the Financial Times reports. Senior management is expected to present a plan to the board in the coming weeks. What Happened: London-based HSBC has been a full-service...
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Goldman Plans Second Round Of Job Cuts In 3 Months: Report
Wednesday, November 18, 2020 - 2:17am | 363Read More...Goldman Sachs Group Inc (NYSE: GS) is planning another round of layoffs, people familiar with the matter told Bloomberg. The bank has been letting employees go as are part of its plan for $1.3 billion cost control measures within a three-year period, as announced in January this...
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PNC To Buy Spanish Bank BBVA's US Unit In $11B Deal
Monday, November 16, 2020 - 1:44am | 338Read More...PNC Financial Services Group Inc (NYSE: PNC) announced late Sunday it has agreed to absorb Spanish bank Banco Bilbao Vizcaya Argentaria SA’s (NYSE: BBVA) U.S. business in an $11 billion all-cash deal. What Happened: BBVA USA's operations amount to $104 billion in assets and the...
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JPMorgan One Step Closer To Fully Owning China Securities Venture
Monday, November 2, 2020 - 12:45am | 372Read More...JPMorgan Chase & Co (NYSE: JPM) now controls 71% of its Chinese securities joint venture after it bought a 20% stake from a local partner, Reuters reported Sunday. What Happened: The stake in the securities JV was put on sale by state-owned Shanghai Waigaoqiao FTZ, according to a filing made...
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Why HSBC Shares Are Trading Higher In Tuesday's Pre-Market Session
Tuesday, October 27, 2020 - 3:34am | 422Read More...HSBC Holdings Plc (NYSE: HSBC) shares surged in the pre-market session Tuesday as the bank beat analyst estimates for the third-quarter earnings. Q3 revenue dropped to $11.9 billion marking an 11% decrease year-over-year. Cumulative revenues for the first three quarters were 9.5% lower...
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Wells Fargo Considers Sale Of Corporate-Trust Unit, Student-Loan Portfolio: Report
Tuesday, October 27, 2020 - 1:19am | 354Read More...Wells Fargo & Co (NYSE: WFC) has been reportedly planning to offload some of its units which are not part of its core U.S. banking franchise. The latest ones to be put up for sale may include its corporate trust unit for proceeds of $1 billion or more as well as its portfolio of...
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Wells Fargo Looks To Shed Asset Management Unit: Report
Friday, October 23, 2020 - 12:58am | 443Read More...Wells Fargo & Co (NYSE: WFC) is in plans to delink its asset management business and is currently holding talks with private equity firms and peers in the asset management space, according to Reuters. Based on initial estimates, the deal could be valued at over $3 billion. In the third-quarter...
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HSBC Shares Rebound From Historic Lows In Hong Kong As Ping An Increases Stake
Monday, September 28, 2020 - 3:33am | 408Read More...HSBC Holdings Plc (NYSE: HSBC) shares recovered from the historic low hit last week in Hong Kong on Monday, surging as much as 10% in intraday trading. What Happened: The surge came following China's largest insurer Ping An Insurance Company of China Ltd (OTC: PNGAY) increasing its...
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What FinCen Files Leak Is All About
Sunday, September 20, 2020 - 10:55pm | 436Read More...Scrutiny of leaked Suspicious Activity Reports (SARs) filed with the United States Department of Treasury revealed that many financial entities could have aided money launderers and criminals. The report unearthed and published by BuzzFeed claims that in almost two decades between 1999 to 2017...
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What Oppenheimer Learned From Banks' Earnings Season
Wednesday, August 17, 2016 - 1:55pm | 349Read More...Earnings season for the financial institution space has come and gone. According to Oppenheimer's Ben Chittenden, the "fundamental backdrop for profitability remains under pressure," and a sustained rate hike cycle is needed to "truly change the direction of profitability." Chittenden noted that...
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Jim Cramer On Financials: 'This Is Day One Of The Rally'
Wednesday, May 25, 2016 - 1:30pm | 314Read More...Financial stocks were trading mostly higher on Wednesday with the Financial Select Sector SPDR Fund (NYSE: XLF) outperforming the broader indices. According to CNBC's Jim Cramer, investors are banking on the likelihood that the Federal Reserve will hike interest rates at least twice throughout the...
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Jamie Dimon Talks Politics, Says 'Scapegoating, Finger-Pointing And Yelling Doesn't Work'
Wednesday, May 11, 2016 - 10:27am | 208Read More...JPMorgan Chase & Co. (NYSE: JPM)'s Chairman and CEO Jamie Dimon was a guest on Wednesday's edition of CNBC's "Squawk Box" to discuss the U.S. election and what a potential President DOnald Trump or Hillary Clinton would mean for the economy. According to Dimon, the...
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Government $117B Tax Should Not Discourage Investments Into Banking Stocks
Friday, January 15, 2010 - 8:29am | 170Read More...Analysts at RBC Capital Markets believe that “investors should not be distracted” by the Obama Administration’s plans to levy a $117 billion tax on the 50 biggest financial companies. The Obama Administration called this the "financial crisis responsibility fee," which will total $90 billion over...
