Archive for 'Companies'
American bank Lehman Brothers is bankrupt
15 September 2008American bank Lehman Brothers Holdings Inc. (LBHI) has declared about the intention to submit the application on bankruptcy to the American court on bankruptcies according to reference 11 of United States Bankruptcy Code.
According to the application, such decision was accepted for protection of bank’s actives and maximization of its cost for shareholders.
Thus the application for [...]
MasterCard and Citibank introduce PayPass
10 September 2008In the beginning of October international payment system MasterCard and Citibank are going to introduce the project on use of technology of contact-free payments - PayPass in the Moscow transport.
PayPass technology is widely used for payment of the goods - it is simply enough to put a card with the special built in microprocessor to [...]
Sale of Postbank is still under the question
4 September 2008Situation with sale Postbank remains not clear within several months. Now the main problem of the transaction relies in question of the price. Financial crisis has destroyed all plans of parent concern Deutsche Post, which hoped to receive about 10 billion euro for the bank. Times, when the rate of Postbank’s shares exceeded 60 and [...]
RBS can sell credits for 8 billion dollars
25 August 2008Yesterday Financial Times (FT) has informed that the second-largest bank of Great Britain Royal Bank of Scotland (RBS) sells to funds of direct investments Apollo, TPG and Blackstone credits for 8 billion dollars. Bank’s mass-media representatives do not make comments on this information. Analysts mark, that the transaction can be a part of strategy of [...]
SocGen and Northern Rock have disclosed their losses
10 August 2008Net profit of French bank Societe Generale (SocGen), which in the beginning of the year has become a victim of the swindle largest in history from the trader, in the second quarter, has reduced more than twice - up to 644 million euro.
Yesterday the victim of credit crisis, largest in the Great Britain bank, Northern [...]
European banks disclose credit losses
5 August 2008Yesterday The largest bank of Europe HSBC has informed on decrease in semi-annual profit almost on third, up to 10,2 billion dollars, on a background of write-offs in the American hypothec business. HSBC became the first of European banks, which this week would open the losses before investors.
Nevertheless analysts mark, that the bank copes with [...]
Bank of America has finished purchase of hypothec broker Countrywide
12 July 2008Bank of America (BoA) has finished purchase of hypothec broker Countrywide Financial for 2,5 billion dollars. The sum of the transaction was on 37 % below initial 4 billion dollars because of decrease in BoA’s quotations. Opponents of merge prove, that together with Countrywide BoA has got billions dollars of write-offs and a legal cost [...]
Bank of America will fire 7,5 thousand of “hypothec” employees
30 June 2008Within two years after purchase of largest in the USA hypothec company Countrywide Bank of America is going to reduce nearby7,5 thousand workplaces.
To reduction will cover about 3 % of all labor of the united companies. In the end of March nearby 209,1 thousand person worked in Bank of America and nearby 50,4 thousand employees [...]
International conference Private Banking and Wealth Management in Russia
18 June 2008Company Infor-media Russia invites you to take part in 2nd International conferences «Private Banking and Wealth Management in Russia: prospects, strategy, practice», which will pass on June, 23rd and 24, 2008 in hotel «Marriott Royal Aurora», Moscow, Russia.
Conference «Private Banking and Wealth Management in Russia: prospects, strategy, practice» will touch upon such questions as:
- Foreign [...]
UBS, Citigroup and Merrill Lynch can lose 10 billion dollars more
15 June 2008American banks Merrill Lynch and Citigroup, and also European UBS can suffer losses at the rate of 10 billion dollars because bonds insurers have lost the maximum ratings in the USA. Earlier because of securities insurers problems three banks have already lost the similar sum, however, analysts consider, that in a context of the general [...]
