A different look at what's hot
Bank of America raised the ire of its customers on Friday by announcing it would begin charging a $5 monthly fee for anybody who uses their debit card to make purchases. The fee will be assessed regardless of how many purchases the users make, and it does not matter if they choose debit or credit [...]
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A rogue trader caused a $2 billion loss for UBS on Thursday, causing the Swiss banking giant's shares dropping 8.7 percent. The plummeting shares could cause the bank to report a loss for the entire third quarter, inflicting more damage on an already fragile banking industry, the Associated Press reports.Authorities are withholding most pertinent information, [...]
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In a sudden, but not surprising, move, Yahoo Inc's board fired Cheif Executive Carol Bartz over the phone on Tuesday after it failed to see turnaround during her 32 months on the job. The firing of Bartz comes after an independent study found the company was not doing as well as it could, prompting the [...]
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The latest figures from the Department of Labor are not encouraging for those fearing a double-dip recession. The U.S. economy added no jobs in August, marking the first time in 11 months that the country saw no job growth, The New York Times reports.The cause of the stagnant market is due to a number of factors. [...]
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After the Dow dropped more than 500 points on Thursday, things did not get much better for the U.S. Markets on Monday. Amid concerns of Standard and Poor's downgrading of America's credit rating, the Dow dropped once again, dipping almost 200 points at the start of trading, MSNBC reports.The week on Wall Street was one [...]
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The investment bank Deutsche Bank is being sued by the federal government for more than $1 billion. The charges are related to the subprime mortgage deals which were part of the financial crisis in 2008.Deutsche Bank is a German bank but its mortgage lending branch, called MortgageIT, was based in New York City until 2009 [...]
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Lloyd Blankfein, the CEO of Goldman Sachs, and other employees of the bank may face charges of perjury concerning statements that they gave while under oath about the bank's involvement in the mortgage market crisis.Banks such as JPMorgan Chase, Bank of America Merrill Lynch, Morgan Stanley, Citigroup and UBS will also likely pay individual settlements [...]
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Oil futures fell by about 0.6 percent on March 24, marking a decline from a 30-month long high, according to Bloomberg.Fears about political instability in Saudi Arabia, the largest exporter of crude oil in the Middle East, is not as pressing as previously anticipated, according to financial analysts.“At least for the moment, there doesn’t seem [...]
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In a deal that would make AT&T the undisputed number one wireless company in the U.S., overtaking Verizon Wireless in numbers of customers, the company has announced a $39 billion deal to buy T-Mobile USA, currently owned by Deutsche Telekom AG, according to Bloomberg.Stocks for AT&T have surged with the announcement which is still subject [...]
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