Tag Archive | "financial institutions group"

Early Market News: Google Inc. (NASDAQ:GOOG), Citigroup Inc. (NYSE:C), Valero Energy (NYSE:VLO)

Early Market News: Google Inc. (NASDAQ:GOOG), Citigroup Inc. (NYSE:C), Valero Energy (NYSE:VLO)

Here are more news stories which could affect stocks on world markets in trading later today.

The following companies should see some movement: Google Inc. (NASDAQ:GOOG), Citigroup Inc. (NYSE:C), Valero Energy (NYSE:VLO).

Here is a more detailed look at the news that will affect each company when trading continues.

Google Inc. (NASDAQ:GOOG)

Google Inc. (NASDAQ:GOOG)

Google Inc. (NASDAQ:GOOG) has planned to launch a new e-book venture.

Google Inc. (NASDAQ:GOOG) is in the final stages of launching its long-awaited e-book retailing venture. The e-books store is an extension of Google Inc.

(NASDAQ:GOOG)’s ambitious and sometimes controversial plan to scan the world’s 150 million or so books and make them accessible to users of Google Inc. (NASDAQ:GOOG)’s Web-search engine.

Scott Dougall, a Google Inc. (NASDAQ:GOOG) product management director said that, “Because of the complexity of this project, we didn’t want to come out with something that wasn’t thorough.”

Citigroup Inc. (NYSE:C)

Citigroup Inc. (NYSE:C)

Citigroup Inc. (NYSE:C) has appointed Gene Fang to its Asia-Pacific financial institutions group.

Citigroup Inc. (NYSE:C) said on Wednesday that it has appointed Gene Fang to its Asia-Pacific financial institutions group, focusing on executing and originating deals in the sector. Gene Fang, who will continue to be based in Hong Kong, joins from BNP Paribas SA (BNPQY), where he has worked in the corporate finance and financial institutions group since last year. Before that, he was in J.P. Morgan Chase & Co.’s financial institutions group in Singapore and Hong Kong from 2003.

According to data from Dealogic, Citigroup Inc. (NYSE:C) has been involved in more than US$50 billion worth of fundraising by Asia-Pacific financial institutions this year, including AIA Group Ltd.’s US$20.5 billion Hong Kong initial public offering in October.

Valero Energy (NYSE:VLO)

Valero Energy (NYSE:VLO)

Valero Energy (NYSE:VLO) has shut down the fluid catalytic cracker at its refinery in Memphis.

A spokesman of the Valero Energy (NYSE:VLO) company said that, Valero Energy (NYSE:VLO) has shut the fluid catalytic cracker at its refinery in Memphis, Tennessee, to repair a wet gas compressor. According to the reports, the refinery has a daily crude oil processing capacity of 195,000 barrels.

Bill Day said in an interview that, “We have not come up with a timetable for repairs, and we won’t know the impact until we know how long the unit will be shut down. The catalytic cracker can process 70,000 barrels per day.”

We could possibly see more movement when trading continues for Google Inc. (NASDAQ:GOOG), Citigroup Inc. (NYSE:C) and Valero Energy (NYSE:VLO).

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Weekly News Roundup: Bank of America Corporation (NYSE:BAC)

Here are this week’s news briefs for Bank of America Corp. (NYSE:BAC). Bank of America Corp. (NYSE:BAC) stocks ended the week at 13.4 (as of 9/17/2010).

Weekly News Roundup: Bank of America Corporation (NYSE:BAC)

Tuesday 14 September

A Bank of America (NYSE:BAC) Merrill Lynch survey has reported surprising results on China. According to the BofA Merrill Lynch Survey of Fund Managers in September, investor sentiment has shifted drastically from very bearish to very bullish in just one month. 11 percent of respondents in the study expect the Chinese economy to strengthen over the next 12 months.

But in August, opinions were starkly different, with 19 percent saying that China’s economy would weaken, and in July 39 percent of respondents were bearish on China.

Wednesday 15 September

Bank of America Corp. (NYSE:BAC) has hired new talent for its operations in Europe. Bank of America Corp. (NYSE:BAC) said Tuesday that it had hired four new bankers for its financial institutions group in Europe as it changed its team structure in Europe to mirror that of the United States.

The four bankers are coming to Bank of America Corp. (NYSE:BAC) from Citigroup, HSBC, Natixis and Royal Bank of Scotland.

They will be based in London and Paris, performing tasks such as advising banks, insurers and other financial services firms.

Thursday 16 September

Bank of America Corp. (NYSE:BAC) and its peers have come under scrutiny recently as the practice of “window-dressing” the company balance sheet comes into focus. Bank of America Corp. (NYSE:BAC) take warning: Federal regulators are said to be preparing new disclosure rules targeting banks’ practices of “window dressing,” a practice by some banks to hide true debt levels temporarily before reporting finances to the public.

The SEC is scheduled to take up the matter at a meeting Friday following a Wall Street Journal first-mover investigation into the deceptive practice.

Friday 17 September

Bank of America Corp. (NYSE:BAC) has announced growth figures for its ePayables payment processing system. Bank of America Merrill Lynch announced today that its ePayables payment processing system continues to post significant revenues growth, with a compound growth of 43 percent annually over the last two years.

In 2009 alone, more than $6.1 billion in payments was processed using ePayables in 2009, demonstrating that clients place a lot of trust in BofA Merrill as a provider of end-to-end payments services.

We will be monitoring the Bank of America Corp. (NYSE:BAC) stock price for developments over the next few weeks.

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